Canmore Economic Development Authority Overview

Overview

Population*
12,226 Permanent Residents
5,744 Non-Permanent (vacation and weekend homeowners with a permanent address elsewhere)
17,970 Total
(*from Canmore Census 2009)

Located just outside the boundary of Banff National Park on the Trans Canada Highway, at an altitude 4300 ft. (1380 m) the Town of Canmore is in an ideal location for servicing a dynamic tourism sector year-round. A growing population investing in their own vacation getaways, often with the intention of eventually retiring to these homes is fuelling a substantial trade independent of leisure tourism.

Canmore is a community proud of its spectacular mountain surroundings and of the need to protect the environment so that residents and travelers can enjoy this awe-inspiring area for many years to come. The town has a development-friendly attitude provided it is done in a manner that matches the surrounding environment. Some of the key advantages of living and doing business in Canmore include: excellent location, mountain lifestyle which provides a superior quality of life and sense of community, environmental protection and sensitivity, tremendous growth opportunities and ease of doing business.

Partners in Economic Development

Town of Canmore
Tourism Canmore
The Biosphere Institute
BOWDA
Mountain Arts Foundation
Canmore Community Housing Corporation
Downtown Canmore Business Revitalization Zone (BRZ)

Associate Membership
Canmore Business Registry

Location

Canmore is nestled in the spectacular Bow Valley, between the shores of the Bow River and Cougar Creek. Towering over this mountain community are the magnificent buttresses of the Rundle mountain range, Mount Lady MacDonald, Ha Ling peak and Three Sisters mountain peaks. We're flanked by two of Alberta's most well-protected and best-known wilderness areas: Banff National Park to the west and Kananaskis Country to the south and east. We're a prime tourist destination - and a beautiful place to live.

Canmore is just five minutes outside of Banff National Park’s gates, through which close to three million tourists pass every year. There are four entrances to Canmore off the four-lane TransCanada Highway, so we're always easy to access. And with an array of restaurants, hotels, gas stations, gift shops and other fantastic tourist amenities, many visitors to Banff are now making Canmore its own destination. Visitors have said they’re not only sidetracked by Canmore's conveniences, but pleasantly surprised by its charm. The 1996 Banff-Bow Valley Report prompted the federal government to significantly curb further development in Banff, capping its population. This has meant even more spill over and growth opportunities in Canmore.

And at less than a one hour drive on the well-maintained TransCanada highway from Calgary, the economic centre of Alberta, Canmore is convenient too. The Calgary International Airport puts Canmore residents within hours of anywhere in North America.

Economic Base

In the past, Canmore was virtually a one-industry town, with an economy that depended almost entirely on coal mining. When the last mine closed down in 1979, some thought Canmore would become a ghost town. However, worldwide exposure from hosting the 1988 Nordic Olympic events has sparked a healthy economic environment for more than two decades.

The tourism industry continues to be the driving force behind our economy. Add to this the brewing adventure sector, a leading edge health and wellness industry and a unique openness for mountain resort development and Canmore is positioned as one of Canada’s most prospective gems.
Efforts towards a more diversified economy are underway focusing on the potential growth and expertise from our new residents. The Canmore Business Registry data shows there are just under 1,150 businesses operating in Canmore. Home-based businesses make up just over 1/2 of those businesses, about 280 from out-of-district, and the remainder are resident businesses to Canmore. Pairing these stats with the traffic to Canmore and there is no doubt of the room here for business to grow.

Though many businesses are tourism-related, we are seeing a host of diversity into new markets. These are driven by the expansion of our newest population growth – the semi-retired professionals, consultants and executives coming here for the unique mountain lifestyle while working globally. While Main Street bustles with funky cafes, sports stores, craft shops, art galleries, bookstores and health-food stores, we are seeing a new breed of operators looking to tap into this new market.

In particular, Canmore has seen growth in the health & wellness sector, with over 50 doctors privileged to operate out of the local medical facilities. Practitioners in the area are attracted to the outdoor mountain lifestyle and opportunities for their families or retirement. Along with this, Canmore is seeing a number of therapists focused on sport rehabilitation and recovery among their many talents. Canmore’s active, adventure lifestyle promotes more than just a creative and talented professional - it almost guarantees a stream of new patients looking to recover from their recreation pursuits or maximize their physical abilities when tackling their many adventures.

With a healthy construction climate, we have a number of enticing opportunities and developments occurring. A range of building permits continue moving ahead and there is incredible business potential in the areas of tourism, environmental technologies, software development and other technology related businesses. Canmore’s downtown core is vibrant and fresh with a range of unique retail and business services available. Add in Canmore’s business-friendly attitude and the formula is set for your success.

Economic Facts

According to the most recent census, 2009 Canmore Census, the industries that employ the largest percentage of the Canmore population are:

1. Accommodation and Food – 17.6%
2. Construction – 12.9%
3. Personal Services - 12.7%

4. Retail-Wholesale Trade – 9.1%

5. Health & Wellness - 9%

6. Professional Services – 6.9%

7. Education – 5.2%
8. Government – 4.7%

8. Financial, Insurance, Real Estate – 4.5%
9. Transportation, Comm., Utilities – 3.7%
10. Manufacturing – 1.2%
11. Mining and Oil – 3.2%
12. Agriculture & Forestry – 0.9%

13. Professional Athlete - 0.7%
14. Other – 1.5%
15. Unknown – 12.7%

The largest employer reflecting the tourism industry, continues to be the service sector, particularly in accommodations, food & beverage and personal services. With a sound selection of industries, health and wellness and construction help mix the economic menu to ensure diversification.

Canmore Financial Institutions - all growing or adding services to meet the needs of a growing community:
Alberta Treasury Branch – branch office expanded in 2004
Bank of Montreal – renovated space and expanded hours to meet growing community needs
Bow Valley Credit Union – continues to service a homegrown attitude
Canadian Imperial Bank of Commerce – major renovations in 2001
Royal Bank – opened and growing since 1996

Bank of Nova Scotia - Canmore's newest bank, opened in July 2006

Overview	Search This Site
Population* 12,226 Permanent Residents 5,744 Non-Permanent (vacation and weekend homeowners with a permanent address elsewhere) 17,970 Total (*from Canmore Census 2009) Located just outside the boundary of Banff National Park on the Trans Canada Highway, at an altitude 4300 ft. (1380 m) the Town of Canmore is in an ideal location for servicing a dynamic tourism sector year-round. A growing population investing in their own vacation getaways, often with the intention of eventually retiring to these homes is fuelling a substantial trade independent of leisure tourism. Canmore is a community proud of its spectacular mountain surroundings and of the need to protect the environment so that residents and travelers can enjoy this awe-inspiring area for many years to come. The town has a development-friendly attitude provided it is done in a manner that matches the surrounding environment. Some of the key advantages of living and doing business in Canmore include: excellent location, mountain lifestyle which provides a superior quality of life and sense of community, environmental protection and sensitivity, tremendous growth opportunities and ease of doing business.	Partners in Economic Development Town of Canmore Tourism Canmore The Biosphere Institute BOWDA Mountain Arts Foundation Canmore Community Housing Corporation Downtown Canmore Business Revitalization Zone (BRZ) Associate Membership Canmore Business Registry
Location Canmore is nestled in the spectacular Bow Valley, between the shores of the Bow River and Cougar Creek. Towering over this mountain community are the magnificent buttresses of the Rundle mountain range, Mount Lady MacDonald, Ha Ling peak and Three Sisters mountain peaks. We're flanked by two of Alberta's most well-protected and best-known wilderness areas: Banff National Park to the west and Kananaskis Country to the south and east. We're a prime tourist destination - and a beautiful place to live. Canmore is just five minutes outside of Banff National Park’s gates, through which close to three million tourists pass every year. There are four entrances to Canmore off the four-lane TransCanada Highway, so we're always easy to access. And with an array of restaurants, hotels, gas stations, gift shops and other fantastic tourist amenities, many visitors to Banff are now making Canmore its own destination. Visitors have said they’re not only sidetracked by Canmore's conveniences, but pleasantly surprised by its charm. The 1996 Banff-Bow Valley Report prompted the federal government to significantly curb further development in Banff, capping its population. This has meant even more spill over and growth opportunities in Canmore. And at less than a one hour drive on the well-maintained TransCanada highway from Calgary, the economic centre of Alberta, Canmore is convenient too. The Calgary International Airport puts Canmore residents within hours of anywhere in North America.
Economic Base In the past, Canmore was virtually a one-industry town, with an economy that depended almost entirely on coal mining. When the last mine closed down in 1979, some thought Canmore would become a ghost town. However, worldwide exposure from hosting the 1988 Nordic Olympic events has sparked a healthy economic environment for more than two decades. The tourism industry continues to be the driving force behind our economy. Add to this the brewing adventure sector, a leading edge health and wellness industry and a unique openness for mountain resort development and Canmore is positioned as one of Canada’s most prospective gems. Efforts towards a more diversified economy are underway focusing on the potential growth and expertise from our new residents. The Canmore Business Registry data shows there are just under 1,150 businesses operating in Canmore. Home-based businesses make up just over 1/2 of those businesses, about 280 from out-of-district, and the remainder are resident businesses to Canmore. Pairing these stats with the traffic to Canmore and there is no doubt of the room here for business to grow. Though many businesses are tourism-related, we are seeing a host of diversity into new markets. These are driven by the expansion of our newest population growth – the semi-retired professionals, consultants and executives coming here for the unique mountain lifestyle while working globally. While Main Street bustles with funky cafes, sports stores, craft shops, art galleries, bookstores and health-food stores, we are seeing a new breed of operators looking to tap into this new market. In particular, Canmore has seen growth in the health & wellness sector, with over 50 doctors privileged to operate out of the local medical facilities. Practitioners in the area are attracted to the outdoor mountain lifestyle and opportunities for their families or retirement. Along with this, Canmore is seeing a number of therapists focused on sport rehabilitation and recovery among their many talents. Canmore’s active, adventure lifestyle promotes more than just a creative and talented professional - it almost guarantees a stream of new patients looking to recover from their recreation pursuits or maximize their physical abilities when tackling their many adventures. With a healthy construction climate, we have a number of enticing opportunities and developments occurring. A range of building permits continue moving ahead and there is incredible business potential in the areas of tourism, environmental technologies, software development and other technology related businesses. Canmore’s downtown core is vibrant and fresh with a range of unique retail and business services available. Add in Canmore’s business-friendly attitude and the formula is set for your success.
Economic Facts According to the most recent census, 2009 Canmore Census, the industries that employ the largest percentage of the Canmore population are: 1. Accommodation and Food – 17.6% 2. Construction – 12.9% 3. Personal Services - 12.7% 4. Retail-Wholesale Trade – 9.1% 5. Health & Wellness - 9% 6. Professional Services – 6.9% 7. Education – 5.2% 8. Government – 4.7% 8. Financial, Insurance, Real Estate – 4.5% 9. Transportation, Comm., Utilities – 3.7% 10. Manufacturing – 1.2% 11. Mining and Oil – 3.2% 12. Agriculture & Forestry – 0.9% 13. Professional Athlete - 0.7% 14. Other – 1.5% 15. Unknown – 12.7% The largest employer reflecting the tourism industry, continues to be the service sector, particularly in accommodations, food & beverage and personal services. With a sound selection of industries, health and wellness and construction help mix the economic menu to ensure diversification.
Canmore Financial Institutions - all growing or adding services to meet the needs of a growing community: Alberta Treasury Branch – branch office expanded in 2004 Bank of Montreal – renovated space and expanded hours to meet growing community needs Bow Valley Credit Union – continues to service a homegrown attitude Canadian Imperial Bank of Commerce – major renovations in 2001 Royal Bank – opened and growing since 1996 Bank of Nova Scotia - Canmore's newest bank, opened in July 2006