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Local Economy in Twenty Years
The County of Newell and its regional partners are
fortunate to be host to a wide diversity of
economic activities. Established industries will likely
have to adapt to evolving market conditions and
the emergence of new industries.
The County’s objective is to continue to work with
its municipal neighbours to attract new economic
investments to the area. A diversified economy is
a resilient one, therefore moving above and
beyond the status quo is necessary for the survival
of the region.
Attractors of Investment
There are many factors that are attracting or will
attract investors. The transportation network is a
key asset that enables the movement of people
and goods within and out of the region.
The established and planned expansions of utility
services and infrastructure allow for more
businesses to locate in the area. Services such as
electricity, natural gas, water, waste
management, telecommunications and more
have a profound impact on investment.
The age of the population is also significant. The
younger generation is providing an energized
workforce prepared for the long-term. While those
that are aging are attracting investments that
serve them in seniors’ care.
The proximity of large urban centres plays an
important role in the potential development of the
region. Calgary, Lethbridge, and Medicine Hat
are the greatest examples.
The County is also known for its lower cost of living
and general higher quality of life.
Industries in the County
Agriculture remains strong in the County and will
continue to be an integral part of its economy for
many years to come. It is an industry that employs
a majority of County residents.
Manufacturing is possible due in no small part to a
specialized work force, clusters of development in
industrial parks, and convenient transportation
connections to the rest of the province.
Tourism continues to be a driving factor in the
economy of the County. The region’s landscapes,
water, and cultural events attract people from afar.
Oil & Gas is a well-established industry in the
County that contributes mightily to its economic
strength. Supported by many local attributes,
businesses in the sector are attracted to the area.
Emerging Industries
Agricultural diversification is an ideal opportunity
for the County to expand upon its traditional
offerings. The emergence of cannabis shows the
possibilities for more options.
Hydrogen is an energy carrier with the potential to
store and distribute large amounts of energy. The
advantages of its use are plentiful.
Renewable energy, especially solar, has already
proven to attract investment. There is much room
for future diversification of energy generation.
Aviation can continue to grow with improvements
to the Brooks and Bassano Airports. Investments in
drone flight, delivery services, and other areas in
aviation are all possible.
The Future
The County is optimistic for its economic resiliency
in the face of local and global challenges. It is by
adapting to changes that the region’s economy
can be better suited for the future.