President's Message
- A.J. (Tony) Ryan

2018 represented the final full year of the Venture Kamloops 2014-2018 Strategic Plan and its five key pillars. The Board of Directors set an ambitious target of 20 result outcomes for the year and Staff did an excellent job in completing 17. Work continues on the 3 remaining outcomes, and they were integrated into the new Strategic Plan, setting the stage for a bright and productive future....

Read More
Venture Kamloops’ annual LinkUp Business Development Summit won the BCEDA Marketing Innovation Award.

Executive Director’s Message
- Jim Anderson

Each new year brings with it new challenges – and new opportunities. At Venture Kamloops it’s our mission to tackle the challenges faced by Kamloops businesses and turn them into opportunities. This year, we provided assistance for a record number of businesses to listen to them and to work with them to achieve success. And we did that in new and innovative ways...

Read More

The VK Team


The team at Venture Kamloops come from a variety of backgrounds working with various associations, organizations, and businesses. The team works to provide the most up-to-date information to those interested in starting their business in Kamloops or expanding operations into the city. Contact us for a confidential, non-obligation consultation to discover how we can work for you.

Meet Our Staff Meet Our Board

New Initiatives 2018

The VK Accelerate Program has more partners than any other previous Venture Kamloops initiative, totalling 17 business supporters and community partners.
Kamloops was identified as one of only four BC markets where homes for sale align with local earnings. View the Article

Ongoing Initiatives

VK Inside Track

Venture Kamloops is pleased to offer Kamloops real estate market orientations to developers who are interested in capitalizing on the opportunity in our growing City. The program is designed to provide developers with relevant investment information about our growing city, and Venture Kamloops is committed to targeting these efforts at outside developers while highlighting the financial prospects and resources needed to consider building in Kamloops.

LinkUp Business Development Summit

2018 marked the 3rd year for the LinkUp Business Development Summit, and it was the most successful thus far. The sold-out event presented a unique opportunity for Kamloops businesses to interact with representatives from all levels of government and business support organizations from across the province. The event featured panels of entrepreneurs in various stages of their business ventures, representatives from local, provincial and federal support services, and connections to help entrepreneurs with pressing issues, or just day-to-day support.

Labour Attraction Partnership

The purpose of the Labour Attraction Partnership Project is to provide strategies that employers can use to address challenges with hiring and keeping employees. The project includes five sector specific employee recruitment and retention strategies and a large resource document that has more detailed best practices that employers can implement.

VK Venture Advisors

Our award-winning program continues to provide an unmatchable resource for its participants. Each month, an entrepreneur is chosen to present their business to a panel of local business experts, all with a unique expertise. These experts provide the business with constructive feedback, insight and connections regarding the business idea.

Venture Kamloops Metrics


Venture Kamloops achieved a record 240 businesses assisted in 2018.

Business Assisted; Categorized by:

Business Size (Number of Employees)

More Tech! TRU’s new Bachelor in Software Engineering program was approved and aims to welcome 140 new spaces for undergrad students.
The new Patient Care Tower at Royal Inland Hospital began construction, and aims to be ready for occupancy by 2021. At $417 million, it is the largest single construction project in Kamloops’ history.

Business Sectors

Nature of Assistance

The Start Here 3.0 Initiative was started in November of 2018, in partnership with Open Door Group, Community Futures and Kamloops Innovation. The program aims to make resources easily accessible for entrepreneurs in Kamloops. Learn More

Performance Measures

Strategic Plan Implementation (Number of Goals Achieved)

Note: This number includes strategic items marked as ONGOING. This includes items where there is no intended completion date, but substantial progress has been made.

VK participated in the inaugural “Made in BC” Tradeshow, which was organized by Kamloops Chamber of Commerce and Open Door Group.

Educational Opportunities For Businesses

Venture Kamloops has added Instagram to the list of social media portals in order to reach a broader audience by utilizing visuals and real time stories.

Social Media Engagement

Venture Kamloops initiated a blog to deliver information in a more condensed and digestible manner. View the News Section

Website Analytics

Economic Snapshot 2018


Workforce Capacity! TRU’s new $32 million Industrial Training and Technology Centre (ITTC) officially open for learning.

Employment Growth

Source: statscan.gc.ca

Unemployment Rate

Source: statscan.gc.ca

As we grow, so does our airport service! In Spring 2018, Kamloops Airport (YKA) announced a new non-stop Air Canada flight service for Kamloops - Toronto.

Population (Thompson / Okanagan)

Source: www5.statcan.gc.ca/cansim/

Housing

All housing numbers obtained from www.kamloops.ca/building/pdfs/2016/december.pdf
MLS® Activity Reports - Average Price is for single-detached units in Kamloops only.

The City of Kamloops had a record-breaking year for building permits in 2018, with construction totaling $285.0 million.

Building Permits

Source: www.kamloops.ca/building/pdfs/2016/december.pdf

Kamloops was chosen as the first location in B.C. to operate a BC Cannabis Store, opening October 17, 2018.

Business Licenses

Source: www.kamloops.ca/development/pdfs/16-DES-AnnualReport.pdf

VK hosted an event in the Okanagan with Urban Development Institute for developer attraction to Kamloops. This marked the first time Venture Kamloops has sponsored a UDI event in Kelowna.

2018 Events

Quarter 1 Quarter 2 Quarter 3 Quarter 4
Date Event Location
January 16 Career Night in Canada – TRU Career Education Kamloops
January 17 CHBA Dinner Kamloops
February 5-7 Chinese Consulate Spring Festival Vancouver
February 5 KCBIA Annual General Meeting Kamloops
February 21 NSBIA Annual General Meeting Kamloops
February 27 KPMG Quarterly Update Luncheon Kamloops
March 8 KADREA Annual General Meeting Kamloops
March 15 KCBIA Business Development Meeting Kamloops
March 27 R.I.H. Patient Care Tower Project Meeting Kamloops
Date Event Location
April 11 Economic Development for Local Government Leaders Meeting Kamloops
April 23 Big Boot Inn Grand Opening Kamloops
April 26 UDI Okanagan Kelowna
May 2 DES Strategic Planning Workshop Kamloops
May 4 Republic Gallery Opening Reception Kamloops
May 14-16 BC Tech Summit Vancouver
May 16 B.C. – U.S. Trade and Investment Luncheon Vancouver
May 17 UDI Pacific Vancouver
May 31 UDI Okanagan Kelowna
June 10-13 BCEDA Annual Economic Development Summit Kelowna
June 14-15 Downtown Design Charrette Kamloops
June 15 NSBIA Summer Sizzler Kamloops
June 23 Far & Wide Grand Opening Kamloops
Date Event Location
July 11 NSBIA Member Breakfast Mixer Kamloops
July 25 BCLC Summer Social Kamloops
August 16 Marketing Kamloops Meeting Kamloops
August 21 Group Supercluster Meeting at Kamloops Innovation Kamloops
August 22 Downtown Plan Advisory Committee Meeting Kamloops
September 8-11 Economic Developers Association of Canada (EDAC) 2018 Conference Fredericton, N.B.
September 14 Kamloops Innovation Tech Fest Kamloops
September 15 Made in B.C. Trade Show Kamloops
September 17 Community Futures Thompson Country AGM Kamloops
September 18 US Tech Talent Attraction September Meeting Vancouver
September 20 UDI Pacific Kelowna
September 27 Trade Accelerator Program Alumni Event Vancouver
September 28 Chinese Consulate Dinner Vancouver
Date Event Location
October 3 Recreation Master Plan Stakeholders Meeting Kamloops
October 16 Kamloops Chamber Coffee Mob Kamloops
October 16 UDI Pacific Vancouver
October 17-19 IEDC Business Retention & Expansion Course Kamloops
October 19 Breakfast with the Minister of National Defence, The Honourable Harjit Sajjan Kamloops
October 25 UDI Okanagan Kelowna
October 27 Kamloops Chamber of Commerce Business Excellence Awards Kamloops
October 30 Clean Energy Luncheon with Fortis BC Kamloops
November 1 TRU Foundation Breakfast TRU Kamloops
November 7 Start Here 3.0 Launch Kamloops
November 15 Cannabis Talk with The Chamber of Commerce, presented by MNP LLP Kamloops
November 22 3rd Annual LinkUp Business Development Summit Kamloops
November 26 Venture Kamloops 2018 Economic Impact Study Presentation Kamloops
November 27 Venture Kamloops 2018 Economic Impact Study Council Delegation Kamloops
November 29 UDI Okanagan Kelowna
December 6 Meeting of the Downtown Plan Staff Technical Working Group Kamloops
December 7 Entrepreneurial Start Up Coffee at TRU TRU Kamloops
December 12 Tourism Kamloops Open House Kamloops
December 13 Kamloops Marketing Meeting Kamloops
December 13 CFTC Open House Kamloops
December 19 CFTC Investment Review Committee Meeting Kamloops

Excerpts from 2018 Financial Statements
Operating Results


For the Year Ended December 31 Budget 2018 2017
Revenue
City of Kamloops Economic development funding $620,979 $620,979 $608,803
Donations in kind - $34,700 $33,550
Government Grants
   Federal - $1,844 $3,615
   Provincial - - $29,212
   City of Kamloops developer attraction campaign - - $37,500
Other revenue - $3,796 $5,545
$620,979 $661,319 $718,225
Expenses
Administrative $303,978 $334,779 $298,985
Business Attraction $215,998 $232,277 $231,658
Business Retention and Expansion $95,897 $108,321 $108,232
$615,873 $675,377 $638,875
Annual Deficit $5,106 ($14,058) $79,350
Accumulated Surplus, beginning of year $183,648 $183,648 $104,298
Accumulated Surplus, end of year $188,754 $169,590 $183,648

Excerpts from 2018 Financial Statements
Financial Position


As at December 31 2018 2017
Financial Assets
Cash and cash equivalents $222,090 $231,844
Accounts Receivable $5,487 $2,183
$227,577 $234,027
Liabilities
Accounts payable $77,707 $62,155
Net Financial Assets $149,870 $171,872
Non-financial assets
Prepaid expenses $11,537 $4,988
Tangible capital assets $8,183 $6,788
$19,720 $11,776
Accumulated surplus $169,590 $183,648