The small town of Blackfalds, nestled between Red Deer City and Lacombe and sitting on the main Highway 2 in the Edmonton-Calgary corridor in Central Alberta, is known for its small town charm and vibrant young community.
With an immediate trading area encompassing some 270,000 people and over 2 million people in a 150km radius that takes in the major cities of Edmonton and Calgary and their international airports, both regional and global businesses are able to thrive in and around Blackfalds.
Offering more affordable housing options than nearby Red Deer, Blackfalds attracts many first time buyers, which has led to a bedroom community of young commuters to other towns and a gap for investment in Blackfalds itself, with a high amount of underdeveloped land with potential for industrial or commercial real estate use.
As one of the closest urban centers to the Joffre Petrochemical Plant, which employs over 700 people, Blackfalds is ideally located for working families to settle and prosper along with the progressive town they inhabit. It is a situation that Blackfalds and its residents are certainly taking advantage of.
The 2016 population being 9510, Blackfalds was names Canada’s 2nd fastest growing community with over 48% growth between 2011 – 2016. Despite this, the friendly community spirit remains among the young residents, half of whom are in the 18-45 age range. This particular statistic marks Blackfalds as one of the best markets in Central Alberta for investing in industrial or commercial real estate and recruiting a labor force.
It isn’t only the population that is expanding in Blackfalds, as the town has plans to become a self-sustained conurbation in the near future, with all amenities, services and necessary businesses looking to be established within easy reach of its residents, cutting down on commuting to nearby communities and helping the local economy.
With such a plan outlining the specific businesses the town is actively seeking, those with the relevant ideas for industrial or commercial real estate investment may already have an economic head start when compared to investing in neighboring towns.
Further enticing industrial and commercial real estate investment in Blackfalds are the provincial tax laws, which remain among the most competitive in North America. With Alberta being only province that does not have a provincial retail sales tax, provincial capital or payroll taxes, it has long thrived economically, and the location and population demographics of Blackfalds make it one of the most promising regional towns in which to invest.
2014 was the most active year in Blackfalds’ history for building permits issued, with the number rising 17% on the previous year to 609, and the total value reaching $124 million, up an impressive 64% on 2013’s figures, giving further confidence to those looking to invest in industrial or commercial real estate in the town.
The currently expanding retail and commercial services sector is backed up by the Downtown Revitalization Plan, which promises to help Blackfalds maintain and even improve upon its impressive recent growth.
A young and dynamic location with MLS commercial property available for both lease and purchase, investing in Blackfalds can help your business to grow as the town itself does.
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