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The tourism industry may be the strongest economic driver in the community, but the Construction & Development industry would generate the biggest bucks, says Canmore’s Economic Development Authority executive director, Teresa Mullen. And the building sector is gaining economic ground.

“About $100 million worth of new construction last year across the board has certainly opened up a lot of new commercial space, which is good,” says Susan Barry, Executive Director of the Canmore Chapter of the Urban Development Institute, “Providing we can fill it with businesses.”

Canmore is known for its abundant recreational opportunities, natural and scenic resources and attractive residential location. Main Street bustles with cafés, sports stores, craft and home decorating shops, art galleries, pubs, book and health food stores.

“In terms of investment opportunities those are things people in the commercial business might be interested in,” Barry states. “Looking to either partner or purchase revenue properties of that nature.”

Barry says UDI does not have a clear indication of the direct impact of new development dollars on payrolls in the community but there is enough anecdotal evidence to know those in the building biz are prospering.

“Certainly things are booming,” Barry says. “I don’t see anything that would make it slow down anytime soon.”

In fact demand continues to grow at such a rate, the local industry is finding it difficult to keep up.

“Getting trades continues to be a problem,” Barry says. “There certainly aren’t enough in the Bow Valley. We’re clearly importing lots of labour from Calgary if not further afield.”

As a resident for over 10 years, Barry has seen the Eagle Terrace development go up, SilverTip take shape and Three Sisters Mountain Village spread the town, among other widespread developments.

As a long-term resident for more years to come, Barry says she’s happy to see the growth. “Particularly on the commercial basis I look forward to more opportunities to buy what I need in my home community,” she says. “I prefer not to have to make a run into Calgary to get most of the things I need. The fact of the matter is most things, at most times I can now get here. And that doesn’t happen unless there’s a residential component to back it up. “

The key is to try strike a balance between trying to provide for, in anyway possible, the long-term interests of the community and having a stable residential base. “You’re not going to get a million square feet of floor space if there’s only 5,000 people to shop in it.”

Barry says Canmore’s development community is genuinely excited for new projects and supportive of fresh ideas. “Most people are eager to help where ever they can,” she says.

“There is a strong networking group within this community.”