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Ground breaking a symbol of growing economic activity in Penticton

Construction projects show economic growth in the South Okanagan according to Penticton MLA and the Mayor of Penticton.
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The official groundbreaking for the new Gateway Casino took place on May 13 with (from left to right) Penticton MLA Dan Ashton

Shovels sunk into the official lump of dirt set up for the ground breaking of the new casino is a bigger analogy for what is happening in the South Okanagan.

"This is more than merely a symbolic photo op. I think this is a really strong signal that things are happening now in Penticton and we couldn't be more happier," said Penticton Mayor Andrew Jakubeit.

Having lived here for 25 years, Jakubeit said he has never seen so much construction and economic activity in Penticton and the region.

"We have downtown revitalization, we have the hospital starting construction soon, Gateway Casino building, the Lakeside is expanding, residential construction — we have a lot of things happening right now and there is certainly a buzz," said Jakubeit.

Despite all the construction, Jakubeit said the city needs to continue to grow the economy to provide more jobs. When the $25-million Gateway Casino construction is completed next year they will create 150 new jobs.

"That is a great thing to celebrate," said Jakubeit. "Penticton has so much development potential. We have everything structured and in place to leverage and bring more opportunity for our community. We have made improvements to development services and economic investment zones to really stimulate that development and it is starting to come to fruition. Penticton has so much potential and I think developers are starting to see that."

The real estate market has also been stimulated in the South Okanagan with the investors of homes for sale at a decade-long low. Jakubeit said some of that is people cashing out of Vancouver to a better lifestyle and affordability in the Okanagan.

"A lot of people that were working up north that don't have a job now because of the downturn last year, are finding opportunity here and that is great because they make their home here for their families," said Jakubeit.

Penticton MLA Dan Ashton agreed that activity is picking up.

"I think the whole South Okanagan," said Ashton. "Look at the developments taking place … you want good growth, quality growth and I am pretty sure Penticton is going in the right direction."

While no one holds a crystal ball that clear on the current economic situation of the country, Ashton did admit he has seen the wave of activity coming.

"B.C. is working. We are the number one province in the country. The number one for jobs. Our unemployment rate is shrinking. B.C. is working and there is more to come," he said. "Canada needs an economic engine and I am being very frank, Ontario isn't giving it anymore. Alberta isn't giving it anymore. B.C. is giving it."

Ashton credited the fiscal management of the province putting them in the right place at the right time.

"People don't want to wait years to get a house building permit so they are going elsewhere and guess where they are coming? The South Okanagan," he said.

Ashton said the green construction fences popping up around Penticton are a good sign of things to come.

"That means new development, new taxpayers, new residences — fill those schools up, that is what we are after," said Ashton.