October 28, 2010
(Red Deer) – Red Deer ranked seventh out of 100 Canadian cities in the Communities in Boom Top Entrepreneurial Cities study. Released by the Canadian Federation of Independent Business (CFIB), the Communities in Boom study looks at a wide range of indicators for the small business and entrepreneur environment in cities with populations over 25,000.
“This ranking is evidence that the Red Deer Region has a strong, optimistic business community which thrives on independent, hard-working entrepreneurs,” said Red Deer Regional Economic Development spokesperson Michelle Zeggil. “Red Deer entrepreneurs are ready for investments, local and international, to help expand and strengthen their businesses. The backbone of a local economy is often the entrepreneurial spirit of business, and that’s something Red Deer has.”
The study measured the concentration of entrepreneurs, business start-up rates, optimistic perspectives, operational successes and level of support from local governments in the form of tax incentives and favorable regulatory policies.
Red Deer’s strongest rankings were in the presence category, which included business start-up rates, business per capita ratio, self-employment intensity and industry employment diversity. Red Deer ranked in the top five for establishments per capita, with 7.5 independent businesses for every 100 people in this city.
“Companies in the Red Deer Region benefit from the strong business networks that allow access to industry experts, trade organizations and business development support,” said Zeggil.
CFIB uses Statistics Canada sources, as well as feedback from their 107,000 members across Canada. Cities are assessed in 12 core indicators which are then grouped into three categories: presence, perspective, and policy. For full survey results, please visit www.cfib-fcei.ca/cfib-documents/rr3206.pdf.
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For more information, please contact
Michelle Zeggil
Economic Development Officer,
City of Red Deer on behalf of Red Deer Regional Economic Development
403-356-8892
Red Deer Regional Economic Development (RDRED) is a strategic alliance between Red Deer Chamber of Commerce, The City of Red Deer, Red Deer County and Red Deer College. Formed in 2001, the alliance exists to create strategic economic development initiatives aimed at attracting, retaining and expanding business investment and labour force with the Red Deer Region.
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