PENHOLD - The Town of Penhold continues to move forward with new businesses and economic growth.
“We’re definitely seeing an increase in businesses everywhere (for the town side),” said Mike Yargeau, mayor. “Our permits are up quite a bit over last year, both business and residential. I think it’s starting to spill over where the more businesses we have opening up, the more attractive it makes our town as a place to move to and live.”
In the past year, Penhold has seen several new small businesses open, including a Tim Hortons and Esso gas station and a new daycare. Other new businesses are expected to open by the end of 2018, including a new veterinary clinic.
Kristina Schmidt, of the town’s planning and development department, said there are 146 Penhold businesses that renewed their licences in 2018, in addition to nine new businesses as of early October.
Yargeau said it’s been a good year for Penhold from an economic perspective. He noted how the town has reached out to the business community.
“We’ve had (about three) meetings with councillors and business owners from the town to get their feedback on how they picture the town assisting them to grow and also how they can work together with each other to help grow."
In doing so, it helps local businesses stay connected, said Yargeau.
“They started working on some initiatives together to bring in (more) business and support each other,” he said. “From the town side and an economic development perspective, (we asked) how can the town assist them and what do they see as our role in helping them grow.
“We want successful businesses, so the more info we can have from them the more we can work with them,” he added.
Annexation will also have an impact on the local economy, said Yargeau.
“There’s businesses under construction right now. The annexation brings a whole different type of business opportunities for the town also,” he said. “Where we’re getting out of more retail and into more commercial and light industrial operations.”
He also noted several Penhold businesses are looking at expanding in the near future as well.
“We are very excited about what’s to come. There’s a lot of things happening in the town,” said Yargeau. “Sometimes progress takes a bit of time, but I think over the next year or few years, you’re really going to see some growth on the commercial side for the town."
