With approximately 50% population growth over the past decade, Coaldale is widely recognized as being a great place to live; but did you know that Coaldale's business community is also rapidly expanding?
The Town of Coaldale is an excellent option for anyone looking to start a new business or relocate an existing one. Many people have already discovered the advantages of building and operating in a smaller community, especially one that is strategically located along a major highway that services two urban centers. Reasonably priced land, low taxes, appealing amenities, and a warm & safe small town feel make Coaldale an attractive place to locate a business or a growing family.
Take some time to learn more about Coaldale and everything it has to offer for the future of your business. For more information or to book an appointment to tour the community please to contact Cam Mills, our Manager of Economic Development by phone at 403-345-1370 or by email at firstname.lastname@example.org.
Location, Location, Location
Coaldale is located only 10kms east of Lethbridge, connected as part of the Highway 3 corridor providing critical transportation routes for the agricultural and manufacturing products that are the engine of the Southern Alberta economy. Traffic along Highway 3 has been steadily increasing for years, resulting in major provincial twinning projects along the corridor specifically designed to help Southern Alberta products access world markets. Current counts indicate average traffic along Highway 3 in Coaldale to be in excess of 34,000 vehicles per day. Given Coaldale's close proximity to Lethbridge and growing commercial traffic through the Corridor, the Town, City of Lethbridge, and Lethbridge County have jointly engaged on an exciting new connectivity project; the Link Regional Pathway which will provide area residents and visitors the opportunity to safely travel between Lethbridge and Coaldale by foot or bike.
A Growing Population
Coaldale has been growing consistently for over a decade. A municipal census conducted in 2019 indicates a population of 8,743, representing growth of approximately 50% over the previous decade. Not only is Coaldale growing, but it is consistently bringing in young families who are attracted to the combination of convenient location, urban amenities, and close knit community feel. The median age in Coaldale is 36, below neighboring Lethbridge (38.2), the provincial average (36.7) and significantly younger than the national average (41.2).
An Attractive Mill Rate
Coaldale boasts the most attractive tax environment for business anywhere in the region. A mill rate of 9.86 on non-residential land & building is less than half that of neighboring Lethbridge at 21.33 Even when compared to similarly sized Taber the difference is stark; Coaldale's rate is about 20% lower than Taber's 12.3251.
Not only is Coaldale's tax rate on land and building the most attractive urban rate in the region, it is complimented by a 0% rate on Machinery & Equipment. Investing in your growing business in similarly sized municipalities like Taber, Innisfail, or Drumheller means thousands of extra dollars every year in property tax; in Coaldale your investment stays in your business.
The best news? Not only is the tax rate extremely competitive, but it is backed up by an organization and community that is committed to keeping it that way. Over the past 5 years, while virtually every other community has been regularly increasing their rates, Coaldale has remained steadfast in its commitment to keeping your business competitive. Coaldale's non residential rate over the past 4 years has actually DECREASED by approximately 1%, compared to an average increase of over 4% in comparable Alberta communities.
In Coaldale, we value your business and we know what it contributes to our community. We're committed to making sure your decision to invest here is always paying dividends.
Offsite Levies & Industrial Land
Coaldale's steady population and business community growth is supported by off-site levy rates that make developing new commercial and residential areas an attractive opportunity. At $85,500 per hectare, Coaldale's rates are substantially lower than nearby Lethbridge at $281,000. This difference of almost $200,000/hectare means that developers in Town start with a price advantage of over $13 MILLION DOLLARS per quarter section, which in turn can translate into substantially lower lot prices, making developing in Coaldale profitable for the developer while also remaining very affordable for the buyer.
Interested in growing your business with us? Consider a lot in Coaldale's rapidly growing industrial park. With lots less than 10 minutes from competitors in Lethbridge, Coaldale's land is attractively priced at $185,000/acre, substantially less than the cost of comparably serviced lots in nearby Sherring Industrial park available for $299,500/acre. Cheaper land, comparably serviced, and located on major transportation networks in a growing community with a substantially lower crime rate - the opportunity speaks for itself.