Diversifying Parkland County’s Economy for a Stronger Future

A more diverse economy is more resilient to downturns, attracts new investment, and creates sustainable long-term growth. For Parkland County, economic diversification is about strengthening our community, broadening revenue sources, and creating opportunities for residents and businesses alike.

Rendering of a Nordic-style spa that could generate tax revenue, employ 100's of residents, and increase tourism & ancillary spending within the county is an example of a viable business opportunity within Parkland.

Why Economic Diversification Matters for Parkland County

Diversification in Parkland County could include:

• Expanding beyond traditional tax basis by attracting more non-residential investment in industrial, commercial, logistics, and green energy sectors.

• Leveraging Acheson’s industrial hub to draw new businesses and create jobs locally.

• Supporting small and medium-sized enterprises in technology, agri-business, and tourism, spreading economic risk while broadening revenue sources.

• Strengthening partnerships with regional chambers, provincial programs, and industry to improve competitiveness.

In short, diversifying the County’s economy can help stabilize tax rates, reduce the burden on residents, and ensure a sustainable and competitive future.

Business Sectors to Explore

To build a resilient and diversified economy, Parkland County can explore several key sectors beyond traditional industries:

1. Value-Added Agriculture

   Enhancing agricultural products through processing increases market value. Local food processing facilities, such as canneries or organic food production, create jobs and reduce reliance on raw commodity exports.

2. Renewable Energy Projects

   Investing in solar, wind, or biomass projects positions the County as a leader in sustainable energy. These projects attract green technology companies and provide long-term economic and environmental benefits.

3. Technology and Innovation Hubs

   Incubators and accelerators for tech startups foster innovation, attract talent, and bring new investment to the region.

4. Tourism and Recreation Development

   Leveraging natural landscapes for eco-tourism, adventure parks, or cultural festivals boosts local tourism and creates jobs year-round.

5. Advanced Manufacturing

   Encouraging industries such as robotics, aerospace, and medical device manufacturing strengthens the industrial base. Acheson’s infrastructure makes it ideal for these developments.

Examples of Businesses That Could Drive Growth

Nordic-Style Spa

• Tourism & Recreation: Attracts visitors regionally, boosting spending in local shops, restaurants, and accommodations.

• Job Creation: Generates employment in hospitality, wellness, and maintenance.

• Year-Round Revenue: Operates across all seasons, providing consistent economic contribution.

Large-Scale Data Centers

• High-Value Investment: Brings substantial capital investment to the county.

• Non-Residential Tax Revenue: Expands the industrial tax base, reducing pressure on residential taxpayers.

• Technology Sector Growth: Encourages related businesses and high-skilled jobs.

Year-Round Farmers Market

• Support for Local Producers: Provides a stable marketplace for farmers and artisans.

• Community Engagement & Tourism: Draws residents and visitors, enhancing the County’s profile.

• Economic Multiplier: Generates indirect spending in nearby businesses.

Inland Port in Acheson

• Logistics & Trade Hub: Positions Parkland County as a center for warehousing, shipping, and distribution.

• Business Attraction: Encourages manufacturing, transportation, and import/export companies to locate nearby.

• Job Creation & Tax Revenue: Strengthens the non-residential tax base and generates high-value employment.

• Regional Economic Growth: Enhances the County’s connectivity and competitiveness within Alberta’s broader trade network.

Building a Sustainable Future

By exploring these sectors and attracting a mix of new businesses, Parkland County can create a more resilient, diversified economy. This approach will help stabilize property taxes, reduce reliance on residential contributions, and provide long-term opportunities for residents and businesses alike.

Economic diversification isn’t just about numbers—it’s about creating a vibrant, sustainable community that can thrive in the years ahead.