The Regional Business Support Network is proud to feature Canadian...
Read More
#4 Retail
The retail industry in Olds is an important contributor to the town and region’s economy. Strategically located in central Alberta along the Calgary-Edmonton corridor, Olds serves a trade area population of approximately 45,000 to 50,000 people, far exceeding its resident population of 9,720. This dynamic position as a regional retail destination presents opportunities for expansion and strategic investments.
The retail market in the Olds trading area highlights strong business potential and continued growth opportunities. The town serves as a regional shopping hub, attracting between 45,000 and 50,000 consumers beyond its local population of 9,720. With 800,000 square feet of retail space already in place and retail spending projected to grow from $696 million in 2024 to $893 million by 2034, the demand for retail expansion is evident. Currently retaining 36% of trade area spending, Olds has room to increase its market share by enhancing the shopping experience and attracting new businesses.
The analysis identifies key retail opportunities in grocery, home and garden, fashion, and dining, with an estimated need for 250,000–300,000 additional square feet of retail space by 2034. To support retail expansion, the town is also focusing on housing growth, storefront revitalization, and business development initiatives. These efforts aim to strengthen Olds’ position as a thriving commercial center, offering more choices for consumers while providing a strong foundation for business investment and economic growth.
Significant investment opportunities exist in Olds retail sector, positioning the town as an attractive destination for retailers and developers. With retail spending expected to grow to $893 million by 2034 and a regional trade area of 45,000–50,000 consumers, demand for retail expansion is strong.
Highway 27 West: Boasts the highest growth and lowest vacancy rate (<1%), making it a key area for new retail entrants.
Highway 27 East: Acts as a transitional area, with a 7.9% vacancy rate and potential for revitalization through redevelopment.
Uptowne Olds: While the historical retail core, it faces higher vacancy rates (7.7%) and requires investment in housing diversity and infrastructure to remain competitive.
Retail sector regulations in Alberta are governed by a combination of municipal, provincial, and federal laws that ensure fair business practices, consumer protection, and operational compliance. At the provincial level, businesses must adhere to the Alberta Consumer Protection Act, which regulates fair pricing, return policies, and advertising standards. Retailers must also comply with employment standards under the Alberta Employment Standards Code, covering wages, hours of work, and employee rights. The Town of Olds zoning and land-use regulations, dictate where retail businesses can operate, while health and safety requirements, including food handling and workplace safety laws, apply to relevant sectors. Additionally, businesses selling alcohol, cannabis, or pharmaceuticals must obtain specific licenses from the Alberta Gaming, Liquor and Cannabis (AGLC) commission. These regulations create a structured environment for retail operations while supporting consumer confidence and economic stability.
The Town of Olds is committed to fostering a business-friendly environment through supportive initiatives and strategic planning. The town facilitates retail growth by offering shop local initiatives business development programs, digital commerce support, and incentives for storefront grant. These efforts align with broader economic strategies aimed at reducing barriers to entry for new businesses and ensuring a competitive, well-supported retail sector. Additionally, the upcoming Housing Strategy Engagement Process aims to create mixed-use developments, which may influence zoning and land-use regulations to accommodate retail expansion.
To further strengthen the local retail sector, Olds has implemented programs such as the Mountain View Power Uptowne Storefront Grant, encouraging businesses to enhance their facades and attract more customers. While specific regulatory details were not outlined in the analysis, these initiatives suggest a regulatory framework designed to promote investment while maintaining a high-quality commercial environment. Businesses looking to enter the market can expect a supportive municipal structure focused on economic growth and community development.
Uptowne Olds is at the heart of the downtown. Driven by group of volunteer business owners dedicated to creating fun, engaging experiences for all those who visit. Uptowne hosts a few major events through the year, primarily Summer Soulstice in June and Midnight Madness in November.
Olds is also Fair Trade Certified. Acknowledging that the products and services that are purchased affect communities, companies, and people in other countries. Olds Fair Trade has a vested interest in teaching local students, business owners, and residents that the products offered in our stores or purchased for our homes are products that come from places and companies that are ethical and care about sustainable environments.
Yes, the Town of Olds has a tax incentive for commercial/industrial development. See our Stimulus page for further details. There are also provincial and federal government programs available some of which are shown on our stimulus page or on our Business & Entrepreneur Resources pages.
It is approximately $11.00 per square foot.
No cost. This is a free service to promote our local businesses and give them the recognition they deserve. We understand marketing is critically important for a new business and we want to help.
You must have a current business license and be either a new business opened in the last 2 years or an established business operating in Olds for 15 years or more.
No. Invest Olds markets available land and property in Olds and the surrounding area, as well as its listing realtors to effectively connect investors directly to the land or property’s selling agent.
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.
Latest Blogs:
The Regional Business Support Network is proud to feature Canadian...
Read More