Kamloops’ diverse and historically steady economy is helping position the city to withstand ongoing trade uncertainty in the United States, according to Venture Kamloops.
Executive Director Jim Anderson said while global markets experienced volatility throughout 2025 — particularly tied to shifting U.S. tariff policy — Kamloops’ economic mix has provided a stabilizing effect.
“We are one of the most diverse economies in British Columbia and in Western Canada for cities of our size,” Anderson said. “Historically, we’ve never really experienced dramatic boom-and-bust cycles. We may not boom, but we certainly don’t bust — and that steadiness matters in times like this.”
$9M impact from 2025 program graduates
Although Venture Kamloops saw slower momentum in attracting outside development last year, the organization leaned heavily into supporting local entrepreneurs and existing businesses.
In 2025, Venture Kamloops worked with just over 300 new unique clients. Businesses that completed and graduated from its programs generated just under $9 million in economic impact in 2025 alone, with projections of nearly $11 million in 2026.
Anderson said those figures reflect only businesses for which full data could be compiled, meaning the broader impact across the community is likely significantly higher.
“When you extrapolate that across the kinds of businesses we work with, the contribution from new, expanding and pivoting businesses to the local economy is pretty astounding,” he said.
Much of the organization’s focus last year involved helping companies move into their first bricks-and-mortar locations, expand operations, or pivot business models in response to shifting economic conditions.
Trade uncertainty dampened investment
Anderson pointed to continued unpredictability surrounding U.S. trade decisions — including tariff policy under President Donald Trump — as a major factor contributing to broader investor hesitation.
“The uncertainty is the key,” he said. “If there had been a clear decision early in 2025 and the world moved forward from there, at least businesses would have had a new reality to plan around. The problem is there’s no stable reality to deal with.”
That unpredictability, he said, created a wait-and-see approach across many sectors.
However, modest signs of improvement emerged toward the end of 2025 and into early 2026.
Investment readiness the priority for 2026
Looking ahead, Anderson said Venture Kamloops is focusing on “investment readiness” — ensuring the city is prepared to respond quickly when new business opportunities arise.
That includes clearly identifying development opportunities, marketing Kamloops’ advantages and working closely with City Council, which has expressed strong support for proactive attraction efforts.
“At a time of uncertainty, you have an opportunity to showcase what exists in a stable market,” Anderson said. “But at the same time, you have to continue the detailed work of supporting the businesses that are already here. You can’t have one without the other.”
New CMA status complicates labour data
Kamloops surpassed 100,000 residents in early 2025 and became its own Census Metropolitan Area, meaning labour force statistics are now measured independently rather than as part of a larger regional grouping.
While that change will provide better long-term data, Anderson said it has led to short-term volatility in monthly unemployment figures due to smaller survey sample sizes.
“This is the first year we’ve had data in this format,” he said. “We don’t yet have historical trends to compare it to, so sharp month-to-month changes need to be interpreted carefully.”
As Kamloops navigates continued global economic uncertainty, Anderson said the city’s diversified economy and measured growth patterns remain key advantages.
“So far,” he said, “we can rely on that steadiness.”
