Vital Signs Report gives housing failing grade, again

Greater Victoria has earned a “B” from this year’s Vital Signs Report, released yesterday by the Victoria Foundation. It’s the same score as last year.

“For nearly 20 years, Vital Signs has been helping the community identify and respond to the greatest challenges facing our region,” Victoria Foundation CEO Sandra Richardson said in a media release. “This year, the survey found cost of living, housing, and healthcare to be among the most important issues in Greater Victoria.”

The report looks at 12 areas and grades them based on data from a survey completed by more than 6,500 people as well as from sources curated by a local researcher

In the 2024 report, housing rated a D-, down from the D the area received last year. Health and wellness also fell from a B- to a C+ — as did the grade given to our standard of living.

Environmental sustainability earned a B, which is the same as last year.

On the positive side, sports and recreation increased from a B last year to a B+ this year. Belonging and engagement, arts and culture, and economy all stayed the same from last year.

The Vital Signs Report is available online at victoriavitalsigns.ca, as well as in print at various locations throughout the region.

Chamber celebrates Small Business Month in October

October is Small Business Month, presented by Grant Thornton.

Throughout the month, the Greater Victoria Chamber of Commerce is celebrating the many businesses we rely on every day to provide essential goods and services, create jobs and support our communities.

Grant Thornton continues as our presenting sponsor, helping to bring essential resources and expert advice to business owners.

“Investing in our small business community goes beyond economic benefits; it’s about preserving the distinctive character and vibrance of our community,” said Kyman Chan, Partner of Assurance and Business Advisory at Doane Grant Thornton. “As we celebrate Small Business Month, we acknowledge the leading role of small businesses in shaping the future of our community. We’re dedicated to supporting and empowering these businesses to thrive today and beyond.”

Small Business Month is an opportunity to highlight the unique challenges and opportunities faced by entrepreneurs. From cash flow management and succession planning to understanding the latest tax regulations, Grant Thornton has curated a selection of insightful articles and reports to help guide you.

Enjoy a series of events, from a special Members Networking Breakfast to informative webinars to an event with our media partner Rogers Media.

Stormy seas for businesses right now but smoother sailing coming

Businesses in Canada aren’t feeling great about current conditions but many sense brighter times ahead. That was the finding of the latest Canadian Survey on Business Conditions by the Canadian Chamber’s Business Data Lab.

“In fact, this is now the best showing for the ‘year-ahead’ question in the almost three years,” says Stephen Tapp, Chief Economist at the Canadian Chamber of Commerce. “Interest rates are beginning to fall across the developed world, the Bank of Canada is increasingly winning the war against inflation, and businesses are expecting a soft landing, with employment growing modestly over the next three months. And while we have signs of good news, businesses remain worried about fragile supply chains due to ongoing labour disputes across Canada’s transportation network.”

Indigenous-owned firms in Canada stood out as particularly optimistic about their future business opportunities.

Ladysmith Mayor named new CEO of SIPP

Aaron Stone has been named the new CEO of the South Island Prosperity Partnership.

Stone, currently serving his third term as the Mayor of Ladysmith, will step down from his elected office to take on the leadership role with SIPP effective Oct. 7.

Along with serving as Ladysmith’s Mayor, Stone founded Uforik Computers. He has also been President of the Ladysmith Chamber of Commerce, Chair of the Island Coastal Economic Trust and Chair of the Cowichan Valley Regional District. He also worked for Global and the Vancouver Grizzlies.

At SIPP, Stone succeeds Emilie de Rosenroll.

SIPP began as an economic development committee of The Chamber before becoming a standalone organization.

Input sought on Uptown’s future as a transit hub

How will you be affected by plans to transform the Uptown neighbourhood through transit-oriented development? Find out and have your say as the first round of public engagement for the area is underway and will continue until Sept. 18.

Your feedback will help set the vision for the area, including a potential transit exchange connected to proposed new homes next to the Lochside and Galloping Goose regional trails. With connections to downtown Victoria, Gordon Head, the West Shore and the Saanich Peninsula, Uptown will become a hub for active transportation and transit in the region.

BC Transit supports developments built close to transit hubs and corridors as more people will see public transit as a viable and accessible option and can live and work without complete reliance on vehicles,” BC Transit CEO Erinn Pinkerton said. “A transit exchange in this location would support improved regional connectivity, future increases in transit service levels, more direct bus routing and reliable, faster transit service.”

A -specific timeline for development will be available after preliminary planning work is completed.

“The District of Saanich welcomes this opportunity for people to provide feedback on this proposed development from the Province and BC Transit — a project that will help us implement our exciting vision for the Uptown-Douglas area,” Saanich Mayor Dean Murdock said. “We look forward to integrating housing, public transportation, convenient amenities and vibrant public spaces into what could become the heart or downtown of Saanich.”

Rail shutdown poses critical threat to our economy

The Chamber continues to call on our region’s Members of Parliament as well as the federal government to take immediate action to ensure the continuation of rail services. A strike that began Aug. 22 threatens to disrupt local economies as well as our country’s national security.

Working with our national chamber network, we have been asking the government for weeks to protect the Canadian public. Under section 107 of the Canada Labour Code, the federal Minister of Labour can refer the dispute to the Canada Industrial Relations Board for binding arbitration and can end any ongoing stoppage pending a resolution. The government can also introduce back-to-work legislation.

This is not a partisan issue. However, a steep price will be paid by families, workers and businesses if action is not taken.

“I sent a letter to all of the Members of Parliament in Greater Victoria, so they are aware of the gravity of this issue,” Chamber CEO Bruce Williams said. “Our expectation is they will take up this call in Ottawa and work with the government to protect our region before we experience supply shortages that could create a real crisis here.”

Old Man Lake wildfire near Sooke finally contained

The wildfire near the District of Sooke that has been spreading smoky skies across the South Island is now officially categorized as contained.

Thanks to recent wet weather and the determined efforts of firefighters, the blaze is not expected to grow beyond its 230-hectare size. The fire was reported on July 22.

However, as crews continue to work on the blaze, Capital Regional District Parks and trails in the area, including the Sooke Potholes, remain closed.

“This is welcome news for people in Sooke,” Chamber CEO Bruce Williams said. “The fire discouraged people from going to that area, and you can imagine that has added to the difficulties facing businesses there. I encourage everyone to make an effort to get out and support those who experienced a drop in business due to the fires when it’s safe to do so.”

Bank of Canada cuts interest rates again, as expected

The Bank of Canada has further reduced its overnight rate.

The cut was widely expected by economists as inflation appears to be under control and heading back to the target 2% rate. The next opportunity to further reduce interest rates is in September.

The Bank also released its Business Outlook Survey and its Canadian Survey of Consumer Expectations on July 15. Both reports found that public expectations for future inflation are in line with Bank forecasts.

Rifflandia always a big boost for business in our region

It’s become an icon of 21st century Greater Victoria, generating $7 million in economic impact and serving as a vanguard of emerging culture in our region.

Rifflandia, the music festival that put Vancouver Island on the international concert map, is preparing for its 2024 edition, Sept. 13-15, at the Matullia Lands in Rock Bay.

This year, The Chamber is partnering with Rifflandia to help build connections with our business community. More than 80% of the festival’s vendors, suppliers and crew are based in Greater Victoria. Rifflandia programs also encourage festival-goers to support local businesses in store and online.

The festival has grown over the years, showcasing many of our region’s top venues and offering a diverse experience. This year, organizers say the new location on the Matullia Lands in Rock Bay can accommodate up to 10,000 people.

Belleville Terminal construction starts this week

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 long-weekends, and should be completed by the end of August.

“Potential impacts from this work include noise from the removal of existing pilings and installation of new pilings as well as the visual impact of the crane derrick within the inner harbour,” states a memo about the project from the BC Ministry of Transportation and Projects.

The Chamber advocated for two decades to gather support for the modernization of this important international gateway that greets thousands of travellers every year.

“It’s great to see the project finally underway and we know the temporary disruption will be worth having a 21st century facility in place,” Chamber CEO Bruce Williams said.

You can stay updated on the Belleville Terminal Redevelopment Project by visiting the project website.