#2 Financial
Capital
Financial Capital: Overview
Access to capital is an important aspect of any economy, and Olds is no exception. In this area, households have a variety of options to obtain the necessary funding for various purposes. The median household income in Olds is approximately $83,000, which is above the national average, indicating that residents in the area have more financial resources at their disposal. In terms of obtaining loans, residents have access to a variety of financial institutions such as credit unions, banks, and other lenders, providing them with the necessary funds to purchase homes, start businesses, or invest in other assets. Additionally, the government of Canada and the government of Alberta provide support to businesses in Olds through various programs that help with funding, grants, and tax credits. This support also extends to individuals looking to start or expand their own businesses, providing a range of financial options to help them achieve their goals.
The supportive financial environment in Olds makes it an ideal location for individuals and businesses looking to start or expand their operations.
Data: Financial Capital
Capital: Banks/Credit Unions
Olds, Alberta is home to several financial institutions, including banks and credit unions. These institutions offer a range of financial products and services, such as savings and chequing accounts, loans, mortgages, and investment options, as well as online and mobile banking services for the convenience of their customers. While banks are typically larger, more traditional institutions that offer a wide range of services, credit unions operate differently, as they are owned by their members and prioritize personalized services and competitive rates. Regardless of whether you choose a bank or credit union, the financial institutions in Olds provide a range of options to meet your financial needs.
Capital: Financial/Insurance Services
Olds, Alberta has a diverse array of financial and insurance services available to its residents. Whether you're looking for personal banking solutions, investment opportunities, or insurance products, there are options to suit your needs. The financial institutions in Olds offer a range of services, including checking and savings accounts, mortgages, loans, and credit cards. They also provide financial planning and investment advice for those looking to grow their wealth. Insurance services include coverage for homes, vehicles, businesses, and more. Additionally, many of these institutions have online and mobile banking capabilities, making it easy to manage your finances on-the-go. Overall, residents of Olds have access to a variety of financial and insurance services to help them achieve their financial goals and protect their assets.
- ANCHOR INSURANCE LTD / PALMER SALMON INSURANCE
- BIRCH TREE FINANCIAL SERVICES
- CENTRE STREET INSURANCE
- DESJARDINS FINANCIAL SECURITY INVESTMENTS INC
- MARLEC INSURANCE BROKERS LTD.
- MONEY MART CANADA INC
- PIERCE INSURANCE FINANCIAL GROUP
- SUNLIFE FINANCIAL / POLLARD FINANCIAL SOLUTIONS
- WESTERN FINANCIAL GROUP
Capital Economic Indicators
Olds and region boast a robust and diverse economy, with a range of financial indicators that demonstrate the town's economic strength. The population in Olds has increased 27% since 2006 and continues to climb. The labour force participation rate has climbed from 68% in 2021 to 71.7% in 2023. Median household income is $82.9K, just above the national average. And the business sector is thriving with 85 new businesses starting in 2022 leading a total of over 600 businesses operating.
Supported by a range of industries, including agriculture, retail trade, construction, manufacturing, and healthcare, among others, Olds provides attractive opportunities for investors and businesses looking to establish or expand their operations. Overall, the financial economic indicators for Olds demonstrate a strong and growing economy, with a business-friendly environment that makes it an ideal location for businesses and entrepreneurs.
FAQ: Investing in Olds, Alberta
Invest Olds is a comprehensive resource for businesses and investors interested in the vibrant community of Olds, Alberta. We provide essential information for anyone looking to invest in this thriving region.
While the public sector is a key employer in the community and region retail trade, construction, mining, quarrying, and oil and gas extraction are the top employment sectors in the Town of Olds. Regionally, accommodation and food services, agriculture, forestry, fishing and hunting, and construction are the top three employers.
Education is one of our leading industries with Olds College of Agriculture and Technology. One of Canada’s top 10 research and innovation centres. A leading Institution in the fields of Agriculture and new technologies.
Investors are served by an Investor Concierge, a Technical Readiness Team (TRT), and a Development Investment Readiness Tech Team (DIRTT) who streamline the investments process. Your Concierge assists with each step of the process from regulatory to ribbon cutting we are here for you. Invest Olds stimulates investment through a host of incentive programs to make an investment not only easy but viable.
Invest Olds supports local business and encourages entrepreneurship by connecting new entrepreneurs to our network of services offering the latest in training, funding, and business development programs. Check out our business and entrepreneur resources page.
Olds is a welcoming and vibrant community with a high quality of life. The town is home to a variety of amenities, including parks, recreation facilities, and cultural events, as well as excellent schools and healthcare services. Additionally, Olds is located in a beautiful natural setting, with easy access to the mountains and other outdoor recreational activities. For businesses, Olds offers a supportive and innovative environment, with access to top talent and cutting-edge research and development facilities.
