Okanagan Edge this week
Okanagan Edge This Week is our look back at everything that happened in business in the region over the last seven days.
Local business news
Massive hiring blitz at KF
Image: Contributed
KF Aerospace is in the midst of a massive hiring spree, as it looks to grow its operations in Kelowna to close to 700 full-time staff, after taking on major contracts with the likes of WestJet and the Department of National Defence this year.
Drastic unemployment drop
Kelowna’s unemployment rate dropped a whopping 5.1 percentage points over a six-month period, falling from 8.7 per cent in December of last year, to a mere 3.6 per cent in June.
$100 million winery under construction
Image: Contributed
Construction is underway on a new $100 million winery in Oliver. Phantom Creek Estates, located on the Black Sage Bench, will grow grapes for red wines, from the historic Phantom Creek and Sundial Vineyards.
The winery will specialize in Cabernet Sauvignon, Merlot and Syrah wines, but it will also sell Riesling, Viognier and Pinot Gris varieties. Construction timelines aren’t yet finalized, but the winery plans to have a soft opening in May of 2018.
Three years for Bad Tattoo
Penticton’s Bad Tattoo Brewing Company quietly marked a milestone July 12, when it officially passed three years in business.
Kelowna icewine deemed ‘perfect’
A Kelowna icewine has received a perfect 100 point score and a Double Gold Medal at the San Francisco International Wine Competition.
Business person of the week
Gopal a top Canadian immigrant
Image: Facebook
Accelerate Okanagan CEO Raghwa Gopal was one of 25 Canadians who recently received a Canadian Immigrant Magazine 2017 Top 25 Canadian Immigrant Award.
Longer Look
Little help for sandwich generation
Image: Contributed
A whole section of women in what’s become known as the “sandwich generation” are supporting both aging relatives and young adult children. They are strained to their limits and their workplaces aren’t always very understanding.
Provincial and national news
Fire spurs higher lumber prices
Image: The Canadian Press
The wildfires in the B.C. Interior have forced some sawmills to stop operations causing a jump in lumber prices.
First rate hike in seven years
The Bank of Canada raised its benchmark interest rate by a quarter of a percentage point to 0.75 per cent — its first increase in nearly seven years. The last time it increased the target rate was in September 2010.
This week’s community champion
A transport truck of donations
Image: The Canadian Press.
A Kamloops business went above and beyond to help evacuees fleeing wildfires this week, donating heaps of supplies to the evacuation centres that have been set up in the city.
Got the Edge feature of the week
Stephen Hart of La Bussola
All Biz Releases Stories
