Nov 21 2024, Partly Cloudy, 20ºC
Business Development
The City of Swift Current - An Economy On The Move!
The City of Swift Current’s vibrant economy is fuelled by the growing Agriculture, Manufacturing, Oil and Gas, Tourism, and Service industries. Swift Current's population now exceeds 17,500 residents, but the City is aiming higher. The newest Strategic Plan provides a blueprint to reach a population of 25,000 people by 2025.
Although 25 by 25 may seem to be a lofty goal, tremendous momentum and rapid economic growth radiates throughout Swift Current and region. In 2011 and 2013, the City of Swift Current annexed a total of eight quarter sections of land from the neighbouring Rural Municipality. Additional lands were required to meet the rapid growth and development of the City, because the City had reached its limits. The area structure plans for these additional lands are currently in development.
Swift Current has recently welcomed over 2,000 immigrants, individuals and families who have moved here to live, work, and share in the economic prosperity of the region. 1,000 housing units have been built in recent years to meet the needs of the growing population. Single family homes, apartments, condominiums, and affordable housing complexes are constantly being constructed to provide homes for our growing population.
The construction industry continues to expand in Swift Current. Not only the number of units, but the value of building permits issued in Swift Current has been significant. In fact, over the past five years, there has been more than $300 million in construction activity in our city, and more than half a billion dollars since 2005.
There has been an increase in oil and gas activity in the region surrounding Swift Current. The oil and gas industry continues to grow, and oil and gas companies, in the region, foresee significant investments into drilling programs over the next number of years. These opportunities have brought, and continue to bring, many service companies to Swift Current and area to capitalize on this growth. Even though new companies are coming to reap the benefits of the area, Swift Current continues to help local businesses thrive.
Agriculture is thriving in the Swift Current region. Strong cattle prices along with robust yields have meant that local agricultural businesses are booming along with these producers. This has had a positive impact on other areas of our economy. The rural population, and their strong ties to agriculture in southwest Saskatchewan, is a strong force in the business community of Swift Current. Our City serves a larger rural population of 55,000.
Manufacturing is an important component of Swift Current's economy. Many of the local manufacturers are exporting throughout North America and beyond. This industry has required more labourers, and therefore, created many new jobs.
The TransCanada Highway is an asset to Swift Current. Tourism and business travel has lead to successful hotels, restaurants, casino, and performing arts venues. New hotels and restaurants are being built to serve the growing service and hospitality sector. Swift Current's hotels have a significantly higher occupancy rate than most areas in Canada.
The City's service and retail sectors provide for the entire southwest region of Saskatchewan. Because of this, there has been substantial investments in the vibrant downtown core, highway commercial areas, and shopping malls. The growth of the service and retail establishments in Swift Current continues to look bright.
The City of Swift Current is proud to offer three or four year tax incentive programs for all businesses that construct new buildings, or add to existing buildings. These programs foster growth, and growth is a priority in this City.
For more information on the exciting possibilities in Swift Current, contact:
Planning & Growth Development
E-mail: plng@swiftcurrent.ca
Phone: 306-778-2714
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