Published Articles

Improving Province's Productivity (in Business Vancouver Island)

A recent report from the Conference Board of Canada pointed out the competitive strengths and weaknesses of Canadian provinces measured against each other and against other jurisdictions, most notably California and Washington State.  The point of the study was to benchmark Western Canada against these jurisdictions and measure our economic performance. 

There were some areas where British Columbia has done notably well. One of those areas was in creating a positive business environment. The report notes that as a whole, Western provinces have taken important steps toward creating an environment conducive to increasing investment and capital intensity. These steps have included eliminating capital taxes –which in BC will be non-existent by 2010. The introduction of the Harmonized Sales Tax in 2010 will further improve the investment environment in the province.

British Columbia and Alberta were given high grades for the Trade, Investment and Labour Mobility Agreement (TILMA) . Alberta has followed suite partially by allowing labour mobility between that province and Alberta. Other Western provinces are advised to follow suit with far more mobility in trade and labour agreements.

A second area is in human capital and the high level of post- secondary education in BC. The province is in fact the top-performing Western province on university completion with almost 25% of its working-age population holding a degree – yet that position is still challenged by the high level of education in both Washington and California. These two jurisdictions have set a high bar, and it is important that the province remain focussed on increasing access to and completion of post-secondary education and training as well as retaining the educated to work in the province. 

Yet there are areas that need improvement to increase our competitiveness and enhance our ability to rebound from the recession. As a whole, business in BC needs to invest more in research and development and in investment in machinery and equipment. And though BC’s post-secondary completion rate is high, we could improve results on successful apprenticeship completions and integrating those educated individuals into productive work. While our costs for doing business are very competitive with California, we still need to remain focussed on our competiveness with other parts of Canada.

In order to meet these challenges, increasing our competitiveness and generate a high and sustainable quality of life, BC needs to continue pursuing policies that maximize our region’s economic potential. 

Articles - 2010

Articles - 2009