Penticton in running for award

City among finalists in 2018 Open for Business Awards

The City of Penticton is one of three finalists for the large community category at the 2018 Open for Business Awards.

Penticton is up against Campbell River and Prince George for the award, part of the Small Business B.C. Awards, celebrating communities with a business-friendly environment allowing small businesses to grow.

The city submitted a case study related to the support given to Penticton small businesses through the economic development zone program.

The program was devised to stimulate building development and employment through revitalization as well as direct business attraction and investment to specific areas of the city.

“It is gratifying to see some of council’s economic development initiatives garnering attention. I’m encouraged to see that the majority of growth came from local businesses reinvesting in Penticton,” Mayor Andrew Jakubeit said in a statement.

“The EIZ program has created more than $70 million in construction activity and more than 400 new jobs since its inception in 2010. It has revitalized downtown, created momentum and confidence that Penticton is a good place to build, develop or invest in.”

Of 40 projects that qualified for the EIZ, approximately 20 per cent have been for new investment into the community and 80 per cent directed toward the retention and expansion of existing business and industry in the community.

Small Business B.C., in partnership with the BC Small Business Roundtable, will host the Open for Business Awards at the Small Business B.C. awards gala on Feb. 23 at the Vancouver Convention Centre.