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Central Okanagan Economic Profile

The Central Okanagan is one of Canada’s fastest growing regions and there is more to our thriving economy than meets the eye.

Read about the Central Okanagan's changing demographics, growth projections, innovation assets, industry trends and opportunities in the 2018 Central Okanagan Economic Profile – the Region’s one-stop shop for economic and business statistics and resources.

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Demographics

As of the 2016 Census, the Central Okanagan had a population of 194,882 people, making it the 4th largest regional district in British Columbia (BC) and the largest population hub between Vancouver and Calgary.

The Central Okanagan has seen a consistent growth in its population since 2006, with average growth rates that surpass the province of BC as a whole.

The majority of communities in the Central Okanagan  have seen robust population growth since 2011, with Westbank First Nation experiencing the largest growth of 27.9%.

The Central Okanagan is expected to outpace provincial population growth between 2018 and 2026; a net growth of 32,000 people with an average growth rate of 1.6% a year.

Trade & Business

The Financial Post called the Central Okanagan the "Most Entreprising Region in Canada" in 2016. The region's 28,000 registered businesses would agree.

The Okanagan is the largest trading centre between Western Canada's two largest cities - Vancouver and Calgary - and is within reach of a larger regional market of 11.4 million customers.

The Kelowna International Airport serves nearly 2 million passengers annually with regular service to major Canadian and US transportation hubs as well as select international destinations. 

Tax Incentives

Residents and businesses enjoy a financial advantage with the Central Okanagan’s competitive tax climate.

BC has the lowest provincial income taxes for individuals earning up to $121,000. Canadian federal government corporate taxes are some of the lowest among the G7 countries.

BC provides a suite of provincial tax credits and exemptions to encourage business investment and innovation. Find a summary of available credits in the profile. 

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