As taken from the Valleyview Economic Development Strategy:
Valleyview maintains a relatively diverse economy, having a role as a regional administrative and commercial centre and significant activity in four other primary sectors: oil and gas; agriculture; tourism; and retail. However, changing international market trends threaten the future stability of these sectors, and consequently the economic prosperity of the town. In the past ten years, Valleyview has experienced a decline in economic growth and activity locally and regionally. This has affected the community in a number of ways: an increase in unemployment and under-employment decreased family income levels and a decrease in the local tax base due to a loss of businesses and families moving to seek economic opportunities outside of the region. In this context, economic diversification is critical for the community’s success.
In this context, Valleyview has developed an economic development strategy that builds upon the economic journey of the community, drawing upon the knowledge and experience of the community to better position the local economy in relation to current and anticipated market trends. The Strategy is a critical step forward in terms of the town’s long-term economic resiliency and success.