Local business growth has soared throughout the last five years in Cranbrook.
Economic development happens through partnerships with local businesses, the Chamber of Commerce, schools and training organizations, Indigenous partners, regional organizations, and other levels of government.
The region has seen an increase in businesses registered with the Canada Revenue Agency (CRA).
This is different to the City business license as a CRA registration is the federal record, while a business license shows a business is licensed to operate here in Cranbrook.
From 2020 to 2024, Cranbrook saw five straight years of growth in CRA-registered businesses—rising from 2,191 to a high of 2,441.
That’s 250 more businesses overall (about 11.4% increase).
Even with a small dip in 2025, the longer trend points to a strong and active local business community.
This was during times of the pandemic, challenging wildfire seasons, and broader economic uncertainty.
It all comes down to Cranbrook’s population growing, and continuing to see strong tourism activity and short-term work-related stays throughout the year.
It can also tighten up the availability of commercial space when vacancy is low, which is why planning for additional business space and supporting private investment continues to matter.
Cranbrook’s economic development work has been recognized at both the national and provincial level.
Awards include from the Economic Developers Association of Canada (EDAC) in 2021, 2022, and 2025, and named a finalist for EDAC’s President’s Award.
The British Columbia Economic Development Association (BCEDA) recognized Cranbrook with its 2025 Marketing Innovation Award— highlighting the continued impact of our work to support business, attract investment, and help our community grow.
For more information visit cranbrook.ca
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