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Breaking news for Greater Victoria businesses

Published weekly, BizNews offers information to help Greater Victoria’s business community make sense of our shifting economic and political landscape. The Chamber’s flagship newsletter is distributed to more than 5,000 subscribers who are highly engaged and active in our region’s business community. Scroll down to read the latest.

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Belleville Terminal construction starts this week

July 3, 2024/in Business And Economic Strength, Chamber Awareness, Government Federal, Government Local, Government Provincial, Transportation Options/by Jim Zeeben

Work is getting underway on the redevelopment of Belleville Terminal, with Phase 1 Wharf Modifications starting at the Steamship Building’s water lot. A barge with a crane derrick is on site, and work will take place from 7am to 5pm, Monday to Friday, and potentially weekends depending on scheduling. However, no work will occur over […]

New supportive housing units a good investment

July 3, 2024/in Finding And Keeping Workers, Housing, Safe Communities/by Jim Zeeben

A new five-storey building has opened at 953 Balmoral St. with 56 units of supportive housing operated by the Cool Aid Society. “We are very excited to have partnered with BC Housing to offer 56 brand new units of supportive housing at one of Cool Aid’s original sites,” Cool Aid CEO Elin Bjarnason said in a media release. “The […]

Rebates aim to encourage solar power adoption

July 3, 2024/in Climate Change Solutions/by Jim Zeeben

BC Hydro has announced new rebates for the installation of rooftop solar and battery-storage systems. The rebates could save homeowners as much as $10,000. The Crown corporation generates energy for 95% of British Columbians. The Chamber supports Climate Action Leadership, such as the work being done to transition the province to sustainable power sources. BC Hydro is […]

Tech sector’s economic impact continues to grow: report

July 3, 2024/in Business And Economic Strength, Fair Rules, Finding And Keeping Workers/by Jim Zeeben

Greater Victoria’s diversified economy plays an important role in helping our region sustain downturns in the global economy. A great example is the tech industry, which thrived during the pandemic and now creates an economic impact of $7.9 billion. The latest figures were announced last week in a report commissioned by the Victoria Innovation, Advanced Technology and Entrepreneurship […]

Real estate market continues showing signs of calm

July 3, 2024/in Business And Economic Strength, Finding And Keeping Workers, Housing, Inflation And Rising Costs/by Jim Zeeben

The region’s real estate market appears to have taken a deep breath in June, as overall sales were down 13.4% from May. The numbers reflect seasonal expectations. “I think this is good news, as the more stable the market is, the more it supports both buyers and sellers,” Victoria Real Estate Board Chair Laurie Lidstone said in a […]

Inflation shows its stubborn side with bump in May

June 26, 2024/in Business And Economic Strength, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

Inflation rose 2.9% on a year-over-year basis in May, up from a 2.7% rise in April. The increase came as a surprise for many economists who are watching for the Consumer Price Index to return to the 2% target, which the Bank of Canada considers to be sustainable inflation. Statistics Canada said May’s increase was caused by higher prices for services, […]

YYJ working to improve services for travellers

June 26, 2024/in Business And Economic Strength, Transportation Options/by Jim Zeeben

Air travel is vital for business and essential for our region’s visitor economy. To make sure our region’s airport continues to overachieve, the Victoria Airport Authority is conducting a survey to check-in with stakeholders. The survey consists of a variety of statements along 12 critical variables, and can be saved to complete in multiple sessions. Responses are confidential, and will […]

Chamber network fighting to stop Digital Service Tax

June 26, 2024/in Chamber Awareness, Fair Rules/by Jim Zeeben

Your next online purchase, ride share, meal delivery, or vacation could soon cost even more if the Digital Service Tax is implemented. That’s the message from the Canadian Chamber as it lobbies the federal government to not pass the DST without significant changes. The proposal will tax revenue earned by large foreign and domestic businesses on online […]

Happy Canada Day!

June 26, 2024/in Chamber Awareness/by Jim Zeeben

Summer is officially underway, which means it’s time to express our gratitude for living in the best place on earth. Greater Victoria is amazing throughout the year, but summer means every weekend has something to celebrate. With the Canada Day long-weekend approaching, The Chamber is celebrating our New to Canada Program. Read more about this […]

BC Conservative leader speaks at Chamber election luncheon

June 19, 2024/in Chamber Awareness, Government Provincial/by Jim Zeeben

A full-house enjoyed lunch today at the Sandman Hotel Victoria while listening to Conservative Party of BC leader John Rustad explain how he would change the province if elected. Rustad offered his thoughts on the economy, public safety and other issues, often weaving in small-town stories from rural constituents. “Some people really liked what Mr. Rustad had […]

Recognizing international credentials makes sense

June 19, 2024/in Business And Economic Strength, Training And Microcredentials/by Jim Zeeben

The International Credentials Recognition Act comes into effect July 1, requiring regulatory bodies to reduce red tape in 29 professions and make it easier for qualified professionals to have credentials recognized, no matter where they were trained. A major change is eliminating the catch-22 that required someone to have work experience in Canada even though they couldn’t work in […]

Lessons of past can help us improve future economy

June 19, 2024/in Business And Economic Strength, Global Uncertainty, Inflation And Rising Costs/by Jim Zeeben

Canada’s economy made a significant shift last month when the Bank of Canada dropped its interest rate for the first time in four years. Now the Bank’s governor is saying he and his central bank peers are navigating a new world. “We’ve also learned some lessons from the post-pandemic inflation, and we will take these to heart,” Tiff […]