Wednesday Aug. 6, 2014 www.saobserver.net $1.25 GST INCLUDED
Foreign investors eye region City: Increased interest in buying businesses. By Lachlan Labere OBSERVER STAFF
An unusual spike in foreign investment inquiries in Salmon Arm is another sign the local economy is improving. In a presentation made last week to city council, updating them on activities at the Salmon Arm Economic Development Society (SAEDS), economic development manager Lana Fitt said economic development has responded to 31 investment inquiries this year, many of them from foreign investors. Fitt explained these inquiries are being facilitated through the Regional Entrepreneur category of the B.C. Provincial Nominee Program. “That means… they’re directed to purchase a business outside of the Lower Mainland, so Salmon Arm, this whole area, is really appealing because of our proximity to both Calgary and Vancouver…,” said Fitt. “So they have to purchase an existing business and it has to be $200,000 or more and in operation for five years or more. There’s some other eligibility criteria there as well. “For probably about two or three months, certainly around early springtime, we were seeing a lot of international investors, Asian investors primarily, coming through our office who were looking to come in under that stream. So lots of interest in purchasing an existing business and it did eat up a little bit of the supply we’ve had for businesses for sale in Salmon Arm.” According to a B.C. government website, BC PNP is designed to “accelerate the Permanent Resident application process for skilled and/or experienced workers, experienced business persons and their family members who want to settle in B.C. permanently.” In a subsequent Observer interview, Fitt called the increase in foreign investment inquiries seen at the economic development office a new trend, particularly in how it’s come in a large cluster over a short period. Asked why now, Fitt said she believes it has to do with the overall economy in B.C. See Education on page A2
JAMES MURRAY/OBSERVER
Grand explorers Ivy Marquardt and Maddison Chassie make their way through the corn maze Sunday at DeMille’s Farm Market.
Family escapes crash Long weekend: Police respond to vehicle collisions on highway. By Barb Brouwer & Martha Wickett OBSERVER STAFF
It was a busy August long weekend, one that saw Salmon Arm RCMP hopping, but allowed forest-fire crews something of a reprieve. Among police calls were two motor-vehicle crashes. In the early afternoon Monday, the four occupants of a vehicle – two children, a man and a woman – were able to walk away from a crash which ap-
This week They thought he was a goner – but he beat the odds. See A11 for details. High temperatures and heavy rain didn’t take too much of a toll. See page A9.
peared to destroy their vehicle. Their vehicle was travelling east near the Trickle Inn when the driver may have fallen asleep. It crossed the centre line and slid down an embankment, landing between two trees. Police and the TappenSunnybrae Fire Department responded, and traffic was reduced to one lane on the TransCanada. At approximately 3:30 p.m. See Fire hazard on page A3
JAMES MURRAY/OBSERVER
Aftermath: A police officer records an image of a
vehicle that left the Trans-Canada Highway and slid down an embankment in Tappen Monday afternoon.
Index Opinion ....................... A6 View Point .................. A7 Life & Times ............... A8 Time Out................... A20 Sports................A13-A15 Arts & Events ... A16-A19 Vol. 107, No. 32, 40 pages