Medicine Hat

Crush optimistic about city's economy in 2010

astephenson@medicinehatnews.com

It’s been a challenging year in Medicine Hat, one in which the city has faced layoffs, a slumping energy industry, and other ripple effects of the global economic slowdown. But Keith Crush, business development officer for the City of Medicine Hat, says he is cautiously optimistic that the worst may be over.

Medicine Hat, like other cities across Canada, is slowly coming out of the slumping economy. Keith Crush, business development officer for the City of Medicine Hat, is cautiously optimistic that the worst may be over.

“Certainly it has been some tough economic times, and we’re not through it yet,” Crush says, but adds there have been signs in recent months pointing to a better economic forecast for the rest of 2010. For example, Crush says a number of local retailers experienced a significantly better Christmas shopping season this year than they did the year before. And while commercial development may have slowed in 2009, Crush fielded several inquiries from retail companies in Edmonton, Calgary, and Vancouver doing analysis into Medicine Hat as a possible location for expansion or franchise establishment.

While Crush says the local impact of the woes experienced by the energy sector shouldn’t be underestimated, it’s important to remember that Medicine Hat’s economy is more diverse than many outsiders realize. The area has a strong agricultural industry and — as the largest centre between Calgary and Regina — has a retail and service sector that draws customers from deep into Saskatchewan. The presence of CFB Suffield offers unique opportunities for local businesses, and many Hatters aren’t even aware of the tremendous work being done locally in the areas of knowledge-based businesses, research and technology development.

That diversity gives Medicine Hat’s economy the ability to weather economic storms better than some other communities. Even the local housing market — which is slowly starting to pick up again — didn’t see the same drastic decline in home values that larger centres like Edmonton and Calgary did.

“What I’ve observed over the years is that Medicine Hat has a unique ability to have a certain amount of stability to it, both economically and socially,” Crush says. “On the social side, we’re so fortunate to have caring and understanding and responsible people in our community who look after each other in hard times.”

As investment markets slowly rebound — and with natural gas prices remaining relatively stable — Crush is hopeful that the worst of the economic storm is over. He says many businesses and individuals are looking at this period as a good time to either improve their operations or get themselves more education and training in preparation for the return to prosperity.

“We will get through this, and there will be opportunities in the future,” Crush says. “So the question is, how can we best position ourselves to take advantage of those opportunities when they arrive.”

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