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Gap Analysis Shows Significant Retail Growth Potential for Bonnyville

BONNYVILLE – The Town of Bonnyville has completed a Commercial Gap Analysis that shows there is significant room for growth in Bonnyville’s retail marketplace.

The analysis, which was completed by FBM Planning Ltd, shows that the that the Town can comfortably support an additional 195,000 sq ft of retail space, possibly increasing by an additional 50 per cent in the next 10 years.

Mark Laver, the Town’s Economic Development Officer, noted the Retail Gap Analysis will be an important document for the municipality going forward.

“It reinforces Bonnyville’s longstanding reputation as a wonderful place to live, boasting a high standard of living, a thriving business sector, and ample opportunities for retail growth,” he said.

The primary retail sectors for growth over the next decade are the Comparison Sector (including Household Goods, Fashion and General Merchandise Store) at 61,000 sq ft of growth potential, Convenience Sector (Groceries, Food) at 54,000 sq ft of growth potential, and the Food & Beverage Sector (Restaurants and Fast Food) at 40,000 sq ft of growth potential.

The growth potential is underpinned by a primary trade area of 27,239 people, and a secondary trade area of 22,291 people. The primary trade area also has a very high average household income level of $140,344, with an annual average household retail spend more than $55,000 (including Auto-related spending).

“The Town has long believed that it was under-served from a retail perspective” said Town of Bonnyville Mayor Elisa Brosseau. “This report will allow us to target new retailers to locate in the Town. The Town already has the lowest non-residential taxes in the region and incentives for new and renovated commercial buildings.”

The Retail Gap Analysis can be found below. Information on the Town’s Commercial Tax Incentive can be found here: town.bonnyville.ab.ca/commercial-tax-incentive-program/

For more information, contact:

Mark Laver

Economic Development Officer

780.826.3496

mlaver@town.bonnyville.ab.ca