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Rising Economy speaks to Main Street and war zones
Tickets are still available for South Island Prosperity Partnership‘s signature annual conference happening next month.
A chief economist decoding turbulence in real time. A Canadian retail leader driving major success despite the “Amazon effect.” A CEO building forensic systems in global disaster zones. A bestselling author who says we can’t afford to cast aside older workers. An AI expert sharing career-pivot strategies to help humans avoid becoming obsolete in work and business.
These are just some of the speakers featured at the conference, taking place from March 10-11 at the Delta Victoria Ocean Pointe Resort in Victoria.
Among the keynote speakers is Justin Young, owner of Canadian Tire Hillside, who will provide a rare look at operations in one of the retailer’s largest locations in the country.
Saanich seeks feedback on parking regulations
Greater Victoria’s largest municipality is asking for public feedback on off-street parking and loading regulations. The District of Saanich says that modernizing regulations will help create housing, jobs and business growth.
More efficient rules also help the municipality reduce emissions and improve development application processing times by reducing the need for parking variances, Saanich said.
Businesses and residents can share thoughts on key issues, barriers, ideas and priorities by emailing off-streetparking@saanich.ca.
A survey that takes about 10 to 15 minutes to complete is also open until March 8.
DND announces $3.7B for new military housing
We don’t have many details, but The Chamber welcomes yesterday’s announcement that the Department of National Defence is expanding military housing across Canada. Defence Minister David J. McGuinty said $3.7 billion has been set aside to build 6,000 more housing units.
The Chamber led the charge across our national chamber network in 2024, penning a policy resolution that called for investment in military housing.
Though CFB Esquimalt was not explicitly mentioned in the announcement, DND said construction of primarily one- and two-bedroom unit apartment buildings is planned at 25 locations. The work will support the construction industry and create demand for Canadian lumber, steel and concrete as well as mechanical and electrical systems. Procurement targets are also designed to help Indigenous businesses.
“By investing in thousands of new homes for members of the Canadian Armed Forces across the country, we are strengthening communities, easing pressure on local housing markets and building quality housing that Canadians need,” McGuinty said.
“This national expansion is an important step in building more affordable homes, supporting good jobs and ensuring that the members who serve our country have housing that meets their needs today and into the future.”
Private-sector growth key to Strategic Investment Fund
It might be a case of too little too late, but it’s good to see this provincial government make an effort to acknowledge the critical importance of a strong private sector.
Yesterday’s announcement of a $400-million fund to help attract private investment to BC is something that should have happened before the province’s debt load was allowed to get out of hand.
“We don’t want to see this fund used for political ends, but The Chamber does support efforts that make our community more attractive for private investors looking to grow our private sector,” Chamber CEO John Wilson said, noting that the Chamber remains committed to helping our members in Greater Victoria’s business community.
The proposed BC Strategic Investment Fund would allow government to consider loans, equity investments and repayable contributions.
One way the fund could be used is to leverage recently announced federal funding tied to strengthening Canada’s military.
“The fund will provide the tools to enable government to work with industry in bringing federal investment to the province, as targeted in the province’s Look West strategy, and leverage the opportunities presented in Canada’s Defence Industrial Strategy,” Association of BC Marine Industries executive director Alex Rueben said in the media release.
Defence strategy aims to bolster Canadian businesses
Amid an ocean of economic uncertainty, Canada’s defence industry has emerged as a lighthouse for businesses seeking secure funding sources.
This week, the federal government announced its new Defence Industrial Strategy that includes $357.7 million for a Regional Defence Investment Initiative. In BC, PacificCan to distribute $67.5 million over the next three years. Applications for commercial projects open April 1 and close March 31, 2028.
“This scale of new funding is unprecedented, but the true measure of success will be how these dollars translate into real operational readiness, modernized equipment and a stronger Canadian Armed Forces,” Canadian Chamber Vice-President of Government Relations David Pierce said. “Canadian businesses hold the expertise in world-class advanced technology, cybersecurity, AI and quantum to deliver this strategy in real terms. To do this, the government must address long-standing issues plaguing our defence procurement system — from contracting times that cause project delays to security clearance challenges — as well as provide a clear sense of the required technology or goods to help more companies participate or bid.”
In Greater Victoria, the presence of Canada’s Pacific Fleet at CFB Esquimalt could serve as a catalyst for investment in the region.
“Canada’s Armed Forces have long played an important role in our region, and I look forward to working with businesses on initiatives that can leverage this new federal funding,” Chamber CEO John Wilson said.