McINNES & COMPANY TRADING AREA

McInnes & Company Appraisals Ltd. services north western Saskatchewan and north eastern Alberta. Our trading area is within approximately a 100 mile radius of the City of Lloydminster, SK/AB. See the following area map:

Map of Mcinnes trading area

COMMUNITY PROFILE – THE CITY OF LLOYDMINSTER

Lloydminster is located 250 kilometers east of Edmonton, 275 kilometers west of Saskatoon and straddles the Alberta/Saskatchewan border. Based on the 2009 census, it has an estimated population of 26,500 persons. Historically the city grew quite rapidly until the early 1980’s, leveled off, and then the recession in the oil industry caused a slight decline. Growth started again and the population showed modest increases through the 1990’s. This is largely due to the development of the Bi-Provincial Heavy Oil Upgrader and the secondary industries, the strengthening oil economy, retiring farmers and the development of the City into a regional center. Starting in 1999, Lloydminster has shown a steady and strong growth pattern in residential, retail and industrial properties. The regional shopping strength plus the stable oil indicate that growth will continue for some time.

Lloydminster centers in some of the richest farmland in Western Canada. The district enjoys a buoyant economic, mixed agricultural and oil industry base. The City centers a 2,500 square mile oilfield, said to be the largest concentration of heavy crude in North America. Oil activities, particularly servicing, refining and pipelining and now upgrading, have been a predominant Lloydminster industry for many years.

With the completed 1.60 billion-dollar Heavy Oil Upgrader facility plus the ancillary services, Lloydminster has become one of the more important oil centers in Canada. Other local industries include several oilfield supply manufacturing companies, a large pre-manufactured home factory, plus several other smaller secondary manufacturing and distributing companies, many of which are related to the oil industry.

A co-generation power plant and an ethanol plant have been built on the present Upgrader site and plans are pending to triple the capacity of the Upgrader. A number of commercial and industrial buildings are presently under construction on the Alberta side of Lloydminster. The Alberta side is now experiencing a shortage of serviced industrial land and an active market exists in commercial land. Construction of the “Power Center” on the west edge of the city in 1999 expanded the retail presence considerably. Walmart, Staples, Sobey’s, Canadian Tire and a number of other multi tenant buildings has created the equivalent of 500 to 700 full time jobs. Retail buildings continue to be added in the west end with the new power center containing Home Depot and others, thus increasing the strong draw as a retail center.

The completion of the Multi-plex (Commonwealth Center) sports arena located at the south edge of the city has also generated a steady growth of retail/service buildings with a new hotel, etc. Three major financial institutions have built on Highway 17 S. at present. New restaurants and retail outlets are also operating or under construction. The proposed Yellowhead Bypass (if and when completed) will make Highway No. 17 S. a major feeder street and the present demand reflects this probability.

The community is well served by parks and playground areas. Within the City there is a heated outdoor swimming pool, a large indoor swimming pool, a golf course, tennis courts, curling rink, a scaled down big league hockey arena, skating rinks, a bowling alley, ball parks, movie theaters, live theater, ski clubs, a riding club, etc.

In terms of accommodation there are in excess of 900 hotel and motel rooms and 50 restaurants of all types. There is a complete line of retail stores, service facilities and professional services.

Along with the elementary and junior high schools, there is a comprehensive high school, which offers a full range of industrial as well as academic courses, a business college and a sheltered workshop. All are available for the full range of adult education programs. A multi-million dollar campus for Lakeland College is located in the southwest corner of the City. It provides, in addition to the usual community college courses, first and second year university courses in several disciplines.

The city is well served by both medical and dental services. There are in excess of 175 beds in the hospital, which opened in early 1988. In addition to this, there are 200 plus beds in the auxiliary hospitals, nursing homes and lodges for senior citizens.

One of Lloydminster’s significant characteristics is its status of a border city as it is situated on the Alberta/Saskatchewan boundary. The population is split approximately 65% to 35% in favour of Alberta. Industrial and commercial development is split approximately 70% to 30% in favour of Alberta.

Lloydminster is one of the most dynamic smaller cities in Canada. Forecasts predict that the City will continue to build. The city’s strategic location plus its strong foundation in agricultural, oil and retail indicates positive economic growth for Lloydminster in the foreseeable future.

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