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Why Okotoks?

Okotoks is a beautiful community located 15 minutes from south Calgary in a thriving trade zone that encompasses businesses from all around southern Alberta. With an estimated trade market of 250,000 people and Calgary a mere 10 minutes away, we provide a valuable link to a larger market.  At the same time, we retain the small-town lifestyle which employees are looking for.

click to access full Okotoks Fact sheet

2021 Okotoks fact sheet

Okotoks is an ideal location to invest in a new business or expand your existing one. Just a few reasons to consider this thriving community:

    The "Average Okotokian"

    If you were to meet the "average Okotoks resident" they would likely be a young professional in their mid 30s, employed in either health care, construction or a professional service. They would most likely be living in a single detached household with their family (2 - 3 individuals), with a combined household income between $110,000 - $120,000/year. 

    Update and accurate market data is helpful and important when planning for your business. The data below is updated as often as possible, to help you best plan your investment in Okotoks. 


    Population: 28,881 confirmed 2016. estimated for 2022: 33,958 

    Population growth: 3.57% per year, between census periods (2011 - 2016)

    Average Age: 35.7 

    Median Household Income: $116,998 confirmed 2016. estimated for 2020 $150,00

    Trade Area: 250,000 

    Total Labour Force: 15,655 confirmed 2016.

    Top 3 Labour Force by Industry: Construction, Retail, Health Care

    All data compiled from Statistics Canada, Townfolio.co and publications provided from local real estate firms

    "The "One-Stop-Shop" Okotoks Advantage"  

    Establishing a business has its costs. At the Town we are working hard to reduce the cost to start a business here. This includes reviewing and refining the business licensing, permitting and approval processes. We are proud to offer a competitive business environment with easy to navigate fee structures as well as a Non-residential tax rate that is more than 40% lower than Calgary's, including not charging a base business tax. Our "One-Stop-Shop" process makes Okotoks the most simple, effective and friendly destination to invest in! 


     Non-Residential Property Tax: Mill Rate of 7.92 (2020)taxation calculation: assessed value*mill rate/1000.

    Business Tax: NONE

    Business License Fee: The Town provides business licenses to storefront, homebased and event based businesses. Licenses are provided throughout the year, and can be pro-rated based on time of application. Applying for a business license is seamless and easy with the Town online business intake form.

    Fees for 2021

    License TypeCurrent Yearly Fee*
    Home Occupation$140
    Storefront - Level 1: up to 5 FTEs**$185
    Storefront - Level 2: to 6-10 FTEs$245
    Storefront - Level 3: 11-15 FTEs$330
    Storefront - Level 4: 16-49 FTEs$380
    Storefront - Level 5: 50+ FTEs$500
      
    Non Resident: Out of MD $375
    Non Resident: In MD/Foothills$275
    Daily $50
    1 Week$80
    1 Month$140
    4 Months$175
      
    Seasonal Mobile Feed Vending $175
      
    Market/Trade Show 15 or less vendors$150
    Market/Trade Show 16-30 vendors $200
    Market/Trade Show 31+ vendors $375


    Incentives: Coming Soon...

    "Business Data to help Your Business" 

    Okotoks has a thriving business community with a diverse and skilled group of businesses. New businesses continue to invest, relocate or expand in Okotoks, recognizing the value in having access to primary transportation routes (Hwy 2/2A), the ability to recruit and retain skilled local labour and lower costs to start and keep a business running. 


    Business Licenses: 

    Transportation Routes:  Okotoks is bordered by Highway 2, the second largest and most travelled highway in the province, connecting Calgary to the rest of Southern Alberta. Highway 2A intersects the town, with over 30,000 vehicles using it daily (AADT). In addition to these major arteries, an East - West CN rail connector intersects the centre of the town. 

    Key Industries: Top 3 industries include - professional services, construction and real estate. 

    A pie chart listing the different industries in Okotoks

    Major Employers: Foothills School Division (870), Christ the Redeemer Catholic Schools (425) and Costco (310) make up the top 3 employers in Okotoks. A full listing of major employers (50+ employees) is available.

    Cost of Labour: Okotoks boasts a young and active labour pool in excess of 15,000 individuals; this cohort works across multiple industries with varying degrees of education levels. 

    Okotoks labour force by occupation for 2020Okotoks Education levels 2020

    All data compiled from Statistics Canada, Townfolio.co and publications provided from local real estate firms

    "It's all about location - and we have options!" 

    Okotoks has an abundance of land and space zoned accordingly, to support the growth of your business here.  The revised Land Use Bylaw ensures locating your business in Okotoks is as easy and efficient is possible. Our Economic Development team is here to support your search for the most optimal space for your business. 


    All numbers are updated when statistics are available. The numbers below are relevant as of December 2020. For more detailed information please contact Okotoks Economic Developments. 

    Properties Available: 28 

    Building Square Feet: 

    - LOW: 1,600 sq. ft. 

    - MEDIAN: 11,043 sq. ft.

    - HIGH: 71, 137 sq. ft. (1)

    Vacancy/Lease Rate: 39.0%

    Average Asking Rent: $18.43

    Average Asking Price: $4,175,000.00 (2)


    1 All square footage is contained in a single building - Big Horn Place

    2. The average asking price is inflated due to a single large offering on the market. This price reflects the asking sale price. 

     

    Industry Profiles for Investment in Okotoks

    While all business in Okotoks is welcome, there are a number of industries that the Town is actively seeking investment from. In 2020 the Town commissioned a study to determine which industries are best suited for the community and surrounding region. From that study, 4 industries emerged: 

    Okotoks Fact Sheet

    The Okotoks Fact Sheet is a ­­­­­­­­­one page document, providing a quick snapshot of some of the significant economic indicators for the community. This one page handout is refreshed annually and is made available to the public and business community. Publications will be included in the December Economic Development newsletter; past publications can be found below. 

    Printable Fact Sheet