Venture Kamloops says a shift in strategy, stronger collaboration with city council, and growing community support are helping drive measurable economic gains across the city.
In a detailed presentation to council on Tuesday, April 28, Executive Director Jim Anderson and President Maeghan Summers outlined how the city’s economic development agency has evolved since an influential October 8 meeting with council — and what that has meant in real terms for local businesses.
“This conversation sparked a movement,” Summers said. “We didn’t just listen — we acted.”
Strategic Shift Already Showing Results
Following that October meeting, Venture Kamloops (VK) moved away from a sector-based approach and instead refocused on broader priorities: attracting new businesses, retaining existing ones, and supporting growth.
The organization also simplified its programming to make it more accessible for entrepreneurs.
“That nimbleness is critical,” said Councillor Stephen Karpuk during the meeting. “Economic development is evolving, and this aligns with where Kamloops needs to go.”
Economic Impact Climbing
VK reported an estimated $8.8 million in economic impact for 2025, with projections reaching $10.9 million for 2026 — based on business data collected through its programs.
From a sample of 29 participating businesses:
- 188 jobs were created
- $26.9 million in revenue was generated
- Total economic impact reached $40 million
In total, 317 businesses accessed VK services in 2025.
Summers noted the numbers reflect both actual performance and forward-looking projections provided by businesses themselves.
Volunteer Power Behind the Numbers
Council members were quick to point out that not all of VK’s impact can be captured in data.
“There is an awful lot of value that isn’t accounted for,” said Karpuk, highlighting the expertise and mentorship provided by volunteers. “That knowledge is invaluable.”
More than 750 volunteer hours have been contributed to VK programs, alongside businesses offering discounted professional services to support new and expanding companies.
Why Businesses Choose Kamloops
When asked what attracts companies to Kamloops, Summers pointed to lifestyle and accessibility — including amenities and the presence of Thompson Rivers University.
Anderson added that location is a major factor.
“We’re a Western Canada hub,” he said. “For many businesses, this is a strategic place to start and expand.”
A key challenge, however, remains the perception around permitting and approvals.
“There’s a refrain that it’s too hard,” Anderson said. “In many cases it’s no harder than elsewhere — but that’s actually an opportunity for us to be better.”
Grand West Story Highlights Hands-On Approach
Council also heard how VK helped attract Grand West to Kamloops — a company with operations in Saskatoon and Montreal.
The business initially approached VK for help finding a location. Through direct support, including navigating zoning, security considerations, and site logistics, the company ultimately purchased the former Finning property.
“They wanted to talk to people, not just read information online,” Anderson said. “That’s where we stepped in.”
The site now accommodates multiple tenants, turning a single investment into a broader economic hub.
Airport Development Seen as Major Opportunity
Long-term planning around Kamloops Airport continues to be a major focus, with feasibility work dating back to 2022 and ongoing discussions about attracting businesses to surrounding lands.
Council members expressed optimism about future development, both on the ground and in expanding air services.
“There are a lot of moving parts,” Anderson said, “but also a lot of opportunity.”
Closer Collaboration with City Hall
VK’s renewed approach also includes closer alignment with council priorities. Moving forward, the organization plans to engage council earlier in its strategic planning process, with collaborative sessions expected in the fall.
Councillor Mike O’Reilly welcomed the shift.
“You are an arm of the city,” he said. “Aligning with this table just makes sense.”
Council also discussed opportunities to better promote VK services through business licensing communications and potential future funding adjustments.
Looking Ahead
Summers said the organization is committed to improving how it measures and reports impact, noting that this was the first time its communications committee formally presented to council.
“This is just the beginning,” she said.
Council unanimously supported sending a letter of thanks to the Venture Kamloops board and volunteers in recognition of their work.
“Keep up the good work,” the mayor said in closing.
