Attracting investment dollars to the Kootenays

When Beth Corven was looking around for her next business venture, she came across the Invest Kootenay website and was immediately impressed with the for-sale listings.

"It gives you a feel for the communities and what's going on," said Corven, "and what the economics of each community is like."

She went on to buy a company called Sweetwater Promotions. How does she rate her experience?

“I think it was great," said Corven. "Four out of five. A very good tool and great service. I'd do it again for sure.”

On the other side, Peggy Aitken was looking to sell Sweetwater Promotions.

"It's not easy to sell a business," said Aitken, who has created many companies over the years. She placed a free ad on Invest Kootenay and a couple of months later Corven called and the deal was done. In particular, Aitken highly recommends that business owners who are looking to sell and retire use the succession planning tools offered on the website.

What is Invest Kootenay?

The purpose of Invest Kootenay is to aggregate resources, carry out advertising and attract investment dollars to the West and East Kootenays. Invest Kootenay is a joint initiative of local governments, economic development organizations and chambers of commerce.

As a non-profit program funded and governed by its partners, there are four key activities undertaken by Invest Kootenay:

1. Raising the profile of the Kootenays as a place to invest and live.
2. Informing investors about the regional investment and economic climate.
3. Supporting communities with tools and economic information.
4. Showcasing specific investment opportunities in the partner regions.

Marketing and communication play an integral part in the strategy at Invest Kootenay. Getting the word out about the region's vast economic potential, business opportunities and tremendous lifestyle is pivotal in attracting investors and businesses to the region.

The Invest Kootenay website lists available business opportunities for each partner region. Investors will also find various statistics related to the partner region. These community profiles benefit not only new investors, but also existing businesses looking to expand.

To date 32 businesses have been sold through the website, which has contributed $6.5 million to the regional economy. New investors sign up every day and there are now over 1300 investors registered on the website. The top five countries of origin are U.S.A., China, United Kingdom, Australia and India.

Fans of the website

One of the community partners is the Columbia Valley Chamber of Commerce. Susan Clovechok, executive director, said Invest Kootenay is “a great tool. And what's great about being the first point of contact is that we get to connect with businesses looking to sell, help them position (the business), especially if they're not working with a realtor.”

A business listing on the website “also gets listed on Opportunities BC, which has a broad international reach,” said Clovechok.

“We can market the region as a whole better," said Lower Columbia Initiatives executive director Terry Van Horn, a keen supporter of Invest Kootenay. "We can pool our resources and we can have a bigger vision for the entire region, instead of just for each individual municipality.

“We feel strongly about the partnership and membership with Invest Kootenay and we will continue to support this initiative well into 2016," said Van Horn. "We feel that strongly about the value of the service that we're getting there.”