For Immediate Release

November 5, 2012

Tel: 250-392-2311 Fax: 250-392-4408 450 Mart Street Williams Lake, BC V2G 1N3

Economic Indicators report shows increase in home construction and business licenses
Williams Lake City Council recently received the Third Quarter Economic Indicators Report. The report contains economic statistics from the City of Williams Lake (such as building permits and business licenses), the provincial and federal governments (unemployment rate) and the Northern BC Real Estate Board (average house price and properties sold). It provides a snapshot of the first three quarters of 2012, compared to the first three quarters of previous years. The report gives an at a glance look at some of the economic indicators in our community, in addition to an update on the Business Expansion and Attraction Strategy (BEAS) implementation. The report shows: An increase in home construction, to 21 valued at $4.6 million so far in 2012, from 16 valued at $2.6 million during the first nine months of 2011. An increase in business licenses issued, up to 96 so far in 2012, compared to 71 in 2011. An increase in the number of airport passengers: 26,112 so far in 2012, compared to 23,754 during the first three quarters of 2011. The average selling price of a single family residential home has increased to $255,753 in September 2012, up from $235,212 in September 2011. So far this year, the City has received $1.46 million in grants from senior governments as a direct result of good partnerships.

Williams Lake has worked with the Northern Development Initiative Trust to establish a regional investment portal for the Cariboo Chilcotin Coast region. We will have the ability to post opportunities and development profiles on the new website and outline Williams Lake specific data. To build on the provincial and regional web marketing projects the economic development department will also establish a Williams Lake investment site by years end. The site will focus on investment attraction, be a resource for those interested in or already doing business in the city, as well as serving as a tool for skilled worker attraction. Local businesses and developers are encouraged to contact the City to get their opportunities included in these marketing initiatives. Over the summer and into September, local input has been gathered to confirm what the community thinks our Citys competitive assets are to attract businesses, workers and new residents. The Taiji Brand Group has conducted local interviews with people in a variety of sectors and utilized the results of City planning and community consultations from the past few years to profile target markets.

The creative and design work is now underway and draft results will be reviewed by the project advisory committee in the next few weeks. As with all economic development projects, local businesses and residents are encouraged to contact the City or utilize the project website (www.mywilliamslake.placebrand.ca) to provide their thoughts or ask questions. 30 For more information, contact: Ken MacInnis Communications Coordinator 250-392-8488