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Cranbrook, BC (May 13, 2026) – Economic development is a term people hear a lot, but it can be tricky to pin down because it connects to so many different parts of Cranbrook – community, business, and government. In simple terms, it’s helping Cranbrook grow and working each day to try to make the City a little bit better. 
 
Economic development isn’t something any one group owns. Much of the work happens through partnerships with local businesses, the Chamber of Commerce, schools and training organizations, Indigenous partners, regional organizations, and other levels of government.

What this work looks like in practice

• Support local businesses: provide support, data, and resources so business can make informed decisions. 
• Help with next steps: pointing people in the right direction with the right information and helping them understand what needs to happen next. https://www.choosecranbrook.ca/do-business-here/ 
• Welcome new business and investment: helping people explore options, and sharing what makes Cranbrook a good place @ https://www.choosecranbrook.ca/newcomers-guide/ 
• Promote Cranbrook - Through Choose Cranbrook and targeted outreach, we position the community as a great place to live and invest. https://www.youtube.com/@choosecranbrook 
• Share clear, useful information: keeping up-to-date facts and local information that can help people make decisions, while making it easier to find what you need. data.choosecranbrook.ca 
• Funding and support: looking for grants and programs, and working with partners to bring resources into the community. 
• Support long-term community well-being: working on issues that affect the economy like housing and workforce availability. https://www.choosecranbrook.ca/revitalization-tax-exemption/  

Economic development isn’t just about more growth. It’s about making sure Cranbrook is a place where people & businesses can start, stay, and enjoy. 

Economic Development in Cranbrook: A Success Story

Another way we can get a feel for how our local economy is doing is by looking at how many businesses are registered with the Canada Revenue Agency (CRA). It’s not the same thing as a City business license as a CRA registration is the federal record, while a business license shows a business is licensed to operate here in Cranbrook. 

When we look at the last few years, the numbers are encouraging. From 2020 to 2024, Cranbrook saw five straight years of growth in CRA-registered businesses—rising from 2,191 to a high of 2,441. That’s 250 more businesses overall (about 11.4%). 

What this really shows is steady growth over time. Even with a small dip in 2025, the longer trend points to a strong and active local business community. 

And it’s worth saying that this growth didn’t happen in easy times. It happened through the pandemic, challenging wildfire seasons, and broader economic uncertainty. That speaks to the resilience of local businesses and to Cranbrook’s role as a key service and employment centre for the region. 

So, what’s driving this growth? It comes down to people. Cranbrook’s population has been growing, and we continue to see strong Tourism activity and short-term work-related stays throughout the year. More people living here and more people coming through means more customers for local shops and services. It can also tighten up the availability of commercial space when vacancy is low, which is why planning for additional business space and supporting private investment continues to matter. 

About Economic Development in Cranbrook

Cranbrook’s economic development work has been recognized at both the national and provincial level. We received awards from the Economic Developers Association of Canada (EDAC) in 2021, 2022, and 2025, and we were also named a finalist for EDAC’s President’s Award. Closer to home, the British Columbia Economic Development Association (BCEDA) recognized Cranbrook with its 2025 Marketing Innovation Award—highlighting the continued impact of our work to support business, attract investment, and help our community grow.