The city of Abbotsford has turned its signature international airshow into a prime opportunity to invite the world to one of the province’s fastest-growing communities.
“Our airshow is such an amazing signature event for the city, and people love airplanes,” said Jay Teichroeb, Abbotsford’s general manager of economic development. “So it’s a way to treat people with something that is uniquely Abbotsford and … show [them] things that are important to their business.”
While 100,000 people watched the skies at the 49th annual Abbotsford International Airshow from August 11 to 14, the city hosted roughly 700 business leaders from industries ranging from aerospace and engineering to real estate and finance. Staff showcased city incentives and opportunities to boost investment in Abbotsford.
In addition to two days devoted to meetings and seminars on developing the city’s aerospace sector, Abbotsford hosted an inaugural bus tour of the city showcasing the major developments taking place in the largest geographic city in B.C.
The tour highlighted parts of the city where developers could benefit from city incentives and business tax exemptions, including:
- a reduced property tax for industrial development that lasts five years following completion of a project; and
- a tax exemption for projects aimed at revitalizing Abbotsford’s historic downtown core.
Said Diane Delves, president and CEO of Quantum Properties Inc.: “There’s been a shift in focus in City Hall, and the culture there is definitely business friendly. I deal with many municipalities and I can tell you, it’s not a pleasure everywhere.”
Among a key area of development is 200 acres of land near the airport that has been taken out of the agricultural land reserve to be used exclusively for industrial development. Rather than waiting for developers to pay for the roads and other utilities, the city is building that infrastructure to encourage development. As one of B.C.’s fastest-growing regions, the city’s hunger for economic growth and its need to provide jobs for its residents are huge. A Conference Board of Canada report released last week noted that Abbotsford’s unemployment rate has edged above the provincial average in the past year as the economy has slowed. Persistently slow economic growth will force people to find work elsewhere, something the city wants to avoid.
“About 65% of Abbotsford residents live and work in the community, which is a very high percentage by Lower Mainland standards,” said Teichroeb. “But we have to be vigilant it remains that way.”
The city has maintained a plan to be as self-sufficient as possible given its distance from downtown Vancouver. In addition to the recent completion of a new entertainment and sports centre, its new hospital and cancer centre, the city announced in July plans for an 80,000-square-foot expansion of the Tradex Trade and Exhibition Centre.
Vali Marling, Tradex’s director of operations, noted the facility has had to turn away business over the years because it has become fully booked during the key trade and consumer show season.
“In 2009, I turned away 100 events. The expansion would potentially allow us to [double the number of events and] book four events at once.”
The $40 million trade centre expansion is slated for completion by September 2014 and is estimated to increase Tradex’s economic impact by 50% to nearly $128 million.
“Tradex was built to fill hotel rooms, increase restaurant meal purchases and flights coming into Abbotsford [airport],” Marling said. “All of that will increase significantly with the expansion, and our employment numbers will also go up.”