More affordable, more success.
Competitive Cost Analysis
Business costs in the Comox Valley are very reasonable; with average lease rates ranging from $5 in East Courtenay to $16 in Comox, and property taxes ranging from $22.761 for light commercial to $23.067 for heavy industrial per $1,000 of assessed land value (City of Courtenay, Property Tax Schedule, 2010).
Retails sales for the region have increased to $628 million, with the average household spending $26,900. These large retail sales are due in part to the increased transportation system linking the Comox Valley to the rest of the province and the world. From the expansion of the Comox International Airport to the completion of the Inland Island Highway 19, these have all allowed for expanded retail and commercial sales.
The Comox Valley boasts very comparable housing and living prices compared to the rest of Vancouver Island. With the average single family home selling for $336,541 in the Comox Valley compared to $316,118 for the rest of the Island (VIREB Sales Summary, 2009). The Comox Valley’s average rental costs were $661 in 2009 compared to provincial average of $899 (CHMC Rental Housing Report).
Average household expenditures including food, shelter, clothing, transportation, health and recreational care and taxes amount to approximately $62,251 per year (Financial Post, Canadian Demographics 2008).
Links
Ministry of Community – Business Tax Rates
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