Manufacturing and Technology
The Kootenay Development Region boasts a vibrant manufacturing and technology sector. Companies in this sector generate significant direct economic spin-offs for the region and growth is projected to continue. An estimated 843 companies employ 15,150 people generating $3.8 billion in revenue. This includes 433 companies employing 6,950 people generating $2.5 billion in revenue in the West Kootenay and Boundary regions and 410 companies employing 8,200 people generating $1.3 billion in revenue in the East Kootenay region.
Recent research into the manufacturing and technology sector reveals that few companies account for the majority of economic activity in the region. The largest 3% of companies account for 81% of total revenue in the East Kootenay region and the largest 5% account for 94% of total revenues in the West Kootenay and Boundary regions.
Businesses in this sector are well-established and serve a wide range of geographic and sector markets. Leading markets include the Kootenays, BC, Alberta, the US, Europe, and Asia. Larger companies are more likely to rely on distinct markets than are the smaller companies, who generate the majority of their sales from customers in the Kootenays.
The Kootenay Development Region offers a number of competitive advantages including:
- strong community support
- limited local competition
- proximity to clients and markets (particularly in terms of ready access to local markets as well as US and Alberta
- proximity to key supplies (e.g. raw materials)
- the strength of the regional economy
- the high quality of life