Businesses thrive in the City of Leduc

Thursday, May 2, 2024

The local business community in the City of Leduc believe it is an economically prosperous place to build a business and report high levels of satisfaction. 

According to a recent business retention and expansion survey conducted by the City, Leduc offers a favourable economic forecast for new and existing businesses, outperforming provincial averages in expected changes in staff, expected future revenues and attitudes among business owners. 

“Businesses are enjoying the benefits that come from stability in our local economy,” says Bob Young, Mayor of the City of Leduc. “Overall, Leduc continues to attract new investment and businesses that set up shop here are having long-term success.” 

The survey, completed by 264 local businesses in late 2023, showed businesses in Leduc are highly satisfied with the area as a place to operate (88 per cent satisfaction rate) and would recommend Leduc to another businesses owner as a place to expand or relocate (86 per cent). These positive sentiments were attributed to the steadfast support of Leduc residents and other businesses operating in the community. 

Highlights from the survey result: 

  • 43% of respondents have been in business in Leduc for more than 10 years, indicating that once a business is established here it continues to be successful.  

  • 41% of respondents started their business in Leduc within the last five years, indicating the community continues to attract new investment.  

  • Most operate with very few full-time employees; one employee (34%) and two to five employees (31%).  

  • A little more than half rent their business space (57%). Of those who rent, lease terms are well distributed between one and five years.86% of respondents own and operate a local business 

  • 76% of respondents said revenues have remained the same or increased over the past 12 months.   

“The survey has given us meaningful information about businesses looking to expand and those who may relocate, downsize, close or sell,” says Tara de Munnik, Manager of Economic Development for the City of Leduc, who has since met with dozens of businesses to further discuss their situation and look for specific ways the City can provide support. “All businesses in the City are welcome to reach out at any time if we can be of service.” 

Next steps for the City include exploring opportunities to address the top priorities that will have the greatest impact on improving business satisfaction and attractiveness of starting a business in Leduc.