Harbour Air completes historic all-electric test flight

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Innovation led by business is vital to addressing climate change. A prime example is the work being done by Harbour Air to switch to an all-electric fleet. On Aug. 18, that goal came a little closer as the company celebrated the successful 45 mile flight of a De Havilland Beaver. The plane was completely retrofitted in 2019 to operate using 100% electricity.

“I am excited to report that this historic flight on the ePlane went exactly as planned” said Kory Paul, Harbour Air’s Vice President of Flight Operations.

To stay up to speed on the latest progress from Harbour Air, go to ePlane Updates.

Industry coalition urges end to dispute hurting hospitality industries

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The Chamber has added our voice to an open letter on behalf of BC’s hospitality, tourism, accommodation, liquor and cannabis retail businesses.

The letter is calling for a quick end to the BCGEU strike that is damaging businesses still trying to recover from the pandemic.

“The craft brewers and the local distilleries, people like that are having problems because the people that are on strike are the ones that would put their product on the shelves of stores,” Chamber CEO Bruce Williams told CHEK News. “So they’re now wondering whether they have to stop production and lay people off.”

These businesses are at risk if the strike continues and “will unfairly bear the brunt of serious economic consequences including business closures and layoffs, cancelled events such as concerts and weddings, loss of consumer confidence, and damage to BC’s reputation among tourists and consumers,” the letter states.

“Up until 2020, B.C.’s hospitality and tourism sector was growing faster than the provincial economy as a whole, with more than $22.3 billion in revenue annually, and supporting more than 250,000 jobs. But two years of restrictive Public Health orders, mandated closures, and capacity limits caused losses in business, revenue, and workforce, and left us with high debt loads and depleted bank accounts. Approximately 20% of businesses in our sector did not survive the pandemic. The rest are still struggling to recover.”

Message from the CEO on inflation and interest rate

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Canada’s inflation rate was 7.6% in July. That’s down slightly from the month earlier but still creates many challenges for businesses. Common questions include how much cost can be passed on to customers, and should wages be increased accordingly?
 
To try and answer some of these, and to shed some light on the role interest rates play in managing inflation, I hosted a special panel of financial experts:

  • Chris Yuan, Associate Wealth & Investment Advisor (RBC)
  • Jared Heimsoth, Director, Capital Markets (CIBC)
  • Kevin Greenard, Senior Wealth Advisor and Portfolio Manager (Scotiabank)
  • Manny Del Dago, Senior Wealth Advisor (Island Savings)
  • Susan Mowbray, Partner, Consulting (MNP)

The discussion was informative and enlightening. I encourage every Chamber member who wants to better understand what’s happening with the economy to watch the recording of our conversation. I know it helped me, especially as there are reasons for optimism that aren’t always reflected in the media. We’re lucky to have Chamber Champions who continue to help us get through every challenge that arises.
 
Thank you,
 
Bruce Williams
CEO, The Chamber

Region busy with film industry productions

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Greater Victoria’s film industry continues to create economic opportunities on southern Vancouver Island. Netflix recently updated a website that provides details on their local productions. The site, Netflix in your Neighbourhood, shows filming locations of recent series such as Rescued by Ruby, Super PupZ and others.
 
“We had three features and 13 television movies come through last year — that’s amazing,” Vancouver Island South Film and Media commissioner Kathleen Gilbert told CHEK News. The industry was responsible for direct spending of about $55 million per year over the pandemic.
 
The Chamber continues to work with community partners on several projects looking to build production studios in Greater Victoria.

New Buildings in Victoria to be Zero Carbon by 2025

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New construction in the City of Victoria will need to be certified as zero carbon by 2025. The change effectively means that alternatives to natural gas or other fossil fuels will be needed to heat the buildings.

“This new requirement will take effect following the introduction of BC Building Code carbon pollution standards later this year,” a city news release stated. “By July 2025, all new buildings in the city will be required to meet a zero carbon standard.”

The schedule and requirements were developed following engagement with the local building industry, co-led by the City of Victoria, the District of Saanich and the District of Central Saanich with support from the CRD.

Ukrainian refugees offered transitional housing

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Refugees from Ukraine have a sanctuary in Victoria to help them begin the long process of resettling in Canada. The Victoria branch of the Ukrainian Canadian Congress has set up a dorm-style village for families who were initially billeted by host families upon arriving in Victoria from Ukraine.

About 2,000 people fleeing the war in Ukraine have indicated they hope to settle on Vancouver Island. As of today, Canada has approved 182,528 applications out of 455,854 from Ukrainians seeking temporary residency.

The Ukrainian Village in Victoria can house 45 refugees in 15 rooms. Families are expected to stay for about three months before finding their own accomodation.

The Chamber continues working with our community partners to identify potential opportunities for billets or temporary housing. Employers in Greater Victoria can help by posting any job openings to a special federal job bank for Ukrainian refugees.

Langford opens process to help new homeowners

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Applications are being accepted for people who expressed interest in the City of Langford‘s innovative attainable home ownership program.

Langford announced the program last October and has updated eligibility requirements to increase the number of people who can benefit.

The Chamber applauds efforts to increase housing supply and help more people afford a home. Initiatives such as Langford’s will help employers find and keep workers who face challenges with the cost of living in our region.

Saanich uses ‘quick build’ approach on active transportation projects

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Active transportation infrastructure plays a vital role in Greater Victoria’s economic resilience, making it more convenient for people to commute to work while reducing greenhouse gas emissions.

The District of Saanich has announced work on eight projects that will enhance pedestrian and cycling safety.

The projects are part of a new approach that speeds up the traditional approval process that can delay municipal projects. Saanich’s “quick build” approach uses money from the operating budget.

The municipality has also issued a progress report to help track the status of each project.

Labour stats show wages up, sick days nominal

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More people were looking for work in Greater Victoria in July, leading to a bump in the region’s unemployment rate over June. The latest report from Statistics Canada shows that the labour market remains robust across the country. The national unemployment rate for July was 4.9%, the same as June. The provincial rate was 4.7% in July and 4.6% in June, while Greater Victoria was 4.3% in July compared to 4.1% in June.

Nationally, there was no recorded spike in days lost to illness with the number aligning with the pre-pandemic average. Wages continued to grow, rising 5.2% in July compared to the same month in 2021.

“We also know employers in key fields, such as health care and child care, need more workers to fill important jobs in BC,” BC’s Minister of Jobs, Economic Recovery and Innovation Ravi Kahlon said in a news release. “We are training people for these roles, while also working to bring in skilled workers through the Provincial Nominee Program.”

Kahlon said the province is urging the federal government to expand the number of skilled immigrants coming through the BC Provincial Nominee Program from 7,000 to 10,000 by 2025. The program offers skilled immigrants a pathway to permanent residence in BC.

The Chamber continues to advocate for immigration as one of the solutions to Greater Victoria’s labour shortage. More workers, as well as improvements to how Canada recognizes foreign credentials, are needed if organizations are going to have the workforce required to reach their economic potential.

Cooler housing market a relief for buyers and sellers

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The pace of Greater Victoria’s housing market is returning to a “calmer and more friendly environment” said the president of the Victoria Real Estate Board.
 
Rising interest rates have effectively slowed sales and allowed supply to return to more typical levels. In July, 510 properties were sold, which is down 16.7% from June and 38.9% from July 2021.
 
“The government’s recent focus has been on demand-side mechanisms and other market modifiers such as a mandatory three-day cooling off period to start in 2023,” VREB President Karen Dinnie-Smyth said in a news release. “A better long-term approach to housing affordability for our future is to address housing supply constraints which will be central to the next round of upward pressure on home prices.”

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