Retail

Industry Snapshot

Kamloops is the regional geographic centre for commercial trade and services in the Thompson Nicola Regional District with a primary and secondary trade area exceeding 220,000 people.  As the largest economic sector in Kamloops, the retail sector employs 12.9% of the labour force. (Stats Can, 2006)

Together with national, regional and independant retail stores, Kamloops offers a wide variety of businesses geared toward all aspects of shopping.

The City of Kamloops has 3 enclosed Shopping Centres as well as 4 Big Box-style retail Centres.  Aberdeen Mall; the largest of the 3 enclosed malls, is a 2 level Regional Centre with over 85 shops and services ranging from small boutiques to major retail chains.

The downtown has a vibrant shopping area boasting numerous specialty shops and a variety of restaurants and lounges with outdoor patios for summertime relaxing.  An enclosed Shopping Centre with regional grocery, service and fashion offerings; combined with an eclectic mix of local street retail forms the foundation for retail on the North Shore.

Competitive Advantages

Kamloops has an abundant labour force available to service the retail sector.  With a projected population growth rate of 1.2% for 2009, and an abundant university student population to draw from, the Kamloops labour force is educated, skilled and available.

Kamloops is an ideal locale for the retail industry due to its geographic locations.  The transportation hub of the B.C. interior; the city lies at the crossroads of B.C.'s four major highways and Canada's two main railways.  This centralized geography, and 4-season climate supports the Tournament Capital advantage which brings more than 27,000 people yearly through Kamloops to compete in tournaments all year round.  The strength of the tourism industry is bolstered by destination golf and ski resorts and in 2008, Kamloops saw 5 million tourists visit the area.

Downtown Kamloops Central Business Improvement Association (KCBIA) and Kamloops North Shore Central Business Improvement Association (NSBIA) are business improvement associations formed to promote business growth and economic development in the Kamloops downtown and North Shore business centers.  They will work with their local retailers to foster business growth in their area.

Incentives

The Revitalization Tax Exemption program is a tax incentive bylaw to encourage revitalization and new development in the Kamloops downtown City Centre.  Property owners (individual or companies) are eligible for a 5-year tax holiday which includes an additional 4-year phase-in period so by the tenth year they are paying the full tax commitment.

Resource Organizations

Downtown Kamloops Central Business Improvement Association (KCBIA) 
Kamloops North Shore Central Business Improvement Association (NSBIA) 
Map of Revitalization Tax Exemption Area 
Kamloops Shopping