PENHOLD – Economic development continues to be front and centre in Penhold in 2018.
Several new businesses have recently opened in Penhold with several more expected by the end of the year.
"There’s been four that have officially opened (in recent months) but we’ve got numerous bays still under construction,” said Mike Yargeau, the town’s mayor. "There’s going to be a new daycare and a few other businesses.
"We also have a (new) used car dealership in town,” he added, noting Canada Post has also moved its store to the Hawkridge Plaza, a location that provides needed storage and additional space.
The town is also planning for future economic growth.
"One of the things we are looking at is an economic development officer or something in that capacity,” said Yargeau, noting money was set aside in this year’s budget should the town decide to go in that direction. "Before we commit any money to that, we have to do our research first.”
He noted several meetings planned with local businesses early this year.
"We’re going to meet with some of our local businesses in town and talk to them about some of the things they want to see or ways the town could assist them in their business,” explained Yargeau. "We’re doing our research and making sure that what we end up doing is going to benefit the town.”
Yargeau also pointed to the impact the upcoming annexation is expected to have on the local economy.
"We’re looking at doubling our boundaries in five months or so,” he said. "That’s going to open up a ton of commercial opportunities for the town.
"It’s in the hands of the province right now, but we expect the annexation to be finalized sometime this year. We are hoping by April, but we have no firm timeline from the province.”
One new business in Penhold is Sugar by Tracy.
"We had our grand opening on Nov. 25 in this location. It’s been amazing since,” said owner Tracy Irwin. "It’s been really busy and Penhold is super supportive.
"I’m really happy that we opened here and not in Red Deer,” she added.
Irwin worked out of her home for the past five years before she needed to expand. She now employs about eight people.
"We make lots of different gourmet desserts. We’ll be adding cinnamon buns and cake by the slice,” she said. "We needed a place to come and sit and have a nice cup of coffee. There was no place to do that before.
"It was a necessary thing for Penhold,” added Irwin.
She said Penhold’s economic growth has really helped her business and other local businesses.
"It’s really been expanding, which is awesome,” she said. "It’s nice being able to shop for more things here in town and not have to go elsewhere, and it’s nice to have the different options and businesses in Penhold,” Irwin concluded.
Mike Yargeau, mayor
"We're looking at doubling our boundaries in five months or so. That's going to open up a ton of commercial opportunities for the town."
