July 2, 2008 JOB FAIR - NRI Distribution
June 25, 2008 VK sells Tool Kits to Province
June 2, 2008 China Mission 2008
May 21, 2008 Red Carpet program to roll out to attract doctors
May 5, 2008 1st Quarter nets 230 jobs in Kamloops
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Forestry, mining, ranching and agriculture have always anchored the economy of Kamloops. Now the emerging areas of technology, tourism, and manufacturing are strengthening this business base and contributing to the city's dynamic growth.
With its well established transportation and communication infrastructure and university, Kamloops is attracting and supporting an ever increasing number of large businesses and major corporations in every sector. The accessibility to markets, the unparallel natural environment, the cosmopolitan urban areas and unique lifestyle all play a factor with doing business in Kamloops.
Kamloops was ranked second as the most cost effective place to do business in the Pacific North American region. In 2002, KPMG issued a report titled, "The Competitive Alternatives, A Comparison of Business Costs in North America, Europe and Japan." Overall Kamloops and Canada represented nearly a 15% advantage over the U.S. and 32.5% over Japan.
Industrial land prices and commercial leasing rates are among the most competitive in the province. BC itself has the lowest operating costs of all G8 nations, with no payroll taxes, property exemptions and numerous tax credits.
Kamloops is fortunate to have many local organizations that support business development such as Venture Kamloops, the Kamloops Chamber of Commerce, the Business Development Bank of Canada, Community Futures Development Corporation of Thompson Country, the Advanced Technology Centre and a variety of local business improvement associations and groups.
Kamloops also has the infrastructure needed to support large and small businesses. Skilled professionals, major financial institutions and educational institutions, such as Thompson Rivers University, enable businesses to obtain the services they need at the local level. Weyerhaeuser Canada, Convergys, BC Lottery Corporation, Pollard Banknote, Tolko Industries and Lafarge Canada are just a few of the larger corporations based in Kamloops. Many provincial and regional organizations have also located in Kamloops including the B.C. Cattleman's Association and the B.C. Fishing Resort and Outfitters Association.
Kamloops is the regional geographic centre of commercial trade and services for the Thompson Nicola Regional District. Local retailers have access to a trading area of more than 127,000 people. The retail trade sector is the largest sector. It makes up 12.8 % of the economic structure by number of companies for the Kamloops region.
Major retail chains with stores in Kamloops include Wal-Mart, Home Depot, Winners, Safeway, Save on Foods, The Bay, Sears, Canadian Tire, the Real Canadian Superstore, Chapters, Starbucks, Rona, Home Centre, London Drugs, Mark's Work Warehouse, Staples, Moore's Clothing for Men, Zellers, Costco, Toys R Us, Pier 1 Imports, Office Depot and the Brick.
The downtown is a vibrant shopping area. It recently underwent a $35 million revitalization with the new addition of Lansdowne Village Shopping plaza and outdoor restaurant patio and lounges. Public amenities include the Kamloops Art Gallery, Kamloops Museum, TNRD public library, Thompson Nicola Regional District Office and Front Counter BC.
Kamloops is situated at the hub of the Kamloops Forest District, which encompasses an area of 13,121 sq. kilometers and includes the communities of Ashcroft, Cache Creek, Savona, Logan Lake, Chase, Barriere and Little Fort. The Kamloops Forest District is one of seven districts located within the Kamloops Forest Region.
Many companies, agencies, and services related to the forest industry are headquartered in Kamloops. Weyerhaeuser Canada, Tolko Industries and Compwood Products are just some of the major forest companies located in Kamloops. The local forest industry provides approximately 3000 jobs including jobs in forest companies, contract loggers, truckers and silviculture workers. Wood processing facilities in the Kamloops Forest District include: one pulp mill, four large sawmills, one chip plant, one plywood plant, four special products mills, six veneer plants and 119 value added wood manufacturers.
Job opportunities in the value-added wood sector have improved over the last year. The number of value-added wood products manufactured in Kamloops continues to grow and ranges from plywood and veneer products to finger jointed lamina and prefabricated housing units.
Kamloops enjoys the second lowest cost of living of Canadian cities in the 2004 American Chamber of Commerce Research Association's (ACCRA) Cost of Living Index. Houses cost over $200,000 less than the Greater Vancouver area making it a highly attractive option for families and young people starting out.
The ACCRA Cost of Living Index measures differences between municipalities in the cost of consumer goods and services for professional and managerial households. The average composite index of all participating cities is equal to 100. Anything above 100 is interpreted as a higher than average cost of living, while a composite index below 100 is seen as lower.
Kamloops composite index rating was 82.5 for the forth Quarter of 2002. Business owners, site selectors and real estate consultants looking at expanding into new markets include this critical statistical information to prove their business-case for relocation.
In 2005, Kamloops residents realize a modest cost of living.
ACCRA Cost of Living Index
This sector is the second largest in the area with over 27,500 people working full-time throughout the year. The Thompson Okanagan is fortunate to have a large diversified manufacturing base that includes manufacturing in forestry, food, wine, boats, aerospace products communications equipment, modular homes and steel fabrications
More than 125 businesses have located their production facilities in Kamloops. Several of these businesses, such as Absorbent Marketing, Neville Log Homes, Sunmore HealthTech, Scorpion Technologies Ltd., and Weyerhaeuser export products around the world.
TNRD Manufacturing Principal Statistics
From a communications perspective, Kamloops is well positioned to support industry of all types. An extensive advanced network and distribution of super band width fiber optic system allowing for digital voice and data access. Kamloops is considered to be on par with major metropolitan areas in terms of communications infrastructure.
Since the 2010 funding announcement, BCNET has been working feverishly to design phase I of the network expansion plans for Kamloops. BCNET will be providing fiber ready capability in each new community; ensuring capacity upgrades for higher-performance networks can be easily achieved. By 2010, BCNET has mapped out gigabit light paths between cities, providing more bandwidth and speed than ever before.
More than 200 high-tech firms are located in the Thompson Shuswap Area. Most are small companies with less than 10 employees. Job opportunities are increasing with no labor shortages for entry level positions. There are four long distance and international telecommunications service providers in the area.
Call Centers' have created employment opportunities throughout the area. The first large call centre to relocate in Kamloops was the Ohio based Convergys Corp.
Convergys runs a $10 million call centre in town. At least 1,200 people are employed with the company and they are looking to expand to 1,700 employees. This makes Convergys the largest private employer in Kamloops. Convergys officials chose Kamloops as a call centre location because of the large number of skilled workers in Kamloops and low business costs.
Agriculture is an important component of the local economy and has been since the establishment of pioneer settlements during the Cariboo Gold Rush. Agriculture in the region has traditionally been fodder and livestock operations including beef, sheep, dairy, and horses.
The Thompson River Basin area can support a wide range of crops including fruits and vegetables. Large valleys with lakes and rivers provide fertile soil and a ready water supply. The diverse climate of the region supports major crops like alfalfa, hay, most vegetables, and hard fruit along with specialty crops such as herbs, berries, and Christmas trees.
Local crop production is consumed partly within the region, with about 50 per cent of production being shipped to the coast of British Columbia. The region has many producers that sell locally at Farmer's Markets and roadside stands.
Approximately 75 per cent of the total ginseng crop in B.C. is grown in the Kamloops region. Three major ginseng manufacturers have located in the region. They produce a variety of products including capsules and tea.
Beef production continues to be the primary agricultural activity in the region. The beef industry and accompanying crops (hay and fodder) account for 85C 90 per cent of total agricultural acres. Both the B.C. Cattlemen's Association and the B.C. Livestock Producers Co-op Association are headquartered in Kamloops. A small dairy industry serves the local market.
Many people in the region are involved in new ventures within the agriculture industry, including a fruit winery, sheep dairies, agro-forestry, and agric-tourism. An example of agro-forestry is a wood lot license whereby crown land adjacent to a farm operation is managed for sustainable development. Agric-tourism has gained a strong presence in the region as many farms and ranches diversify into tours and bed and breakfasts.
The agriculture industry is a major employer in the Kamloops region. Besides direct employment, a strong service industry including equipment, irrigation, and general supply firms, supports the agricultural sector. The following chart (5.21) provides an overview of the important role agriculture plays in the local economy.
Selected Agriculture Statistics for the TNRD, 1991 and 2001
