The Regional District of Central Okanagan has released an extensive report outlining the ‘economic ecosystem of the Central Okanagan.’
The report covers everything from key industries, labour statistics and household income, to demographics, education and life in the Okanagan. The report is also broken down to 7 different communities: Kelowna, West Kelowna, Lake Country, Peachland, Westbank First Nation , as well as Central Okanagan Electoral Areas East and West.
The project was created to support the Region’s efforts to support local business needs and attract investment to the region.
David McDougall, Advisory Board Chair for the Central Okanagan Economic Development Commission says, “The COEDC, as the primary business resource for the region, supports the ongoing development of excellent tools and resources to promote the Central Okanagan and support local business. The high quality publications are once again exemplified with the release of the 2018 Economic and Sector Profiles for the Central Okanagan.“
You can go HERE to read the full report.
Some of the highlights include:
- The Central Okanagan’s highest workforces are health care and social assistance (13.1%); retail trade (13.0%); construction (10.9%); and accommodation and food service (9.4%).
- The Central Okanagan has a higher proportion of residents holding a secondary or higher certificate, diploma or degree compared to the rest of BC and Canada; 24.5% of residents hold a university level accreditation, 26.9% hold college level accreditation, and 11.6% have pursued an apprenticeship or trade
- The Central Okanagan is expected to outpace provincial population growth between 2018 and 2026; a net growth of 32,000 people with an average growth rate of 1.6% a year.
- Individual(16.8%) and household(19.6%) median incomes have risen faster in the Central Okanagan than the provincial medians of 14.8% and 16% respectively.
- Central Okanagan East has the highest median household income ($85,504) followed closely by West Kelowna ($83,942) and Lake Country ($83,243).