Finding And Keeping Workers Archives

Better policies key to helping small businesses grow

October 23, 2024/in BizNews This Week, Business And Economic Strength, Chamber Awareness, Finding And Keeping Workers, New And Established Businesses/by Jim Zeeben

It’s often said that small businesses are the backbone of their communities, and a new report shows that the numbers back up that claim.

The Canadian Chamber’s Business Data Lab recently published Scaling Success: Enabling Small Businesses to Grow. Among its findings are that nearly 70% of private-sector jobs are created by small businesses. The report also shows that businesses projecting high growth are typically between five and 19 employees, are owned by immigrants or visible minorities and have been operating between three and 10 years.

In order to grow, the biggest challenges facing businesses are access to financing and technology, as well as a supportive policy environment that provides opportunities to export.

Vital Signs Report gives housing failing grade, again

September 26, 2024/in BizNews This Week, Business And Economic Strength, Climate Change Solutions, Fair Rules, Finding And Keeping Workers, Housing, Safe Communities, Streamlined Regional Regulations, Transportation Options/by Jim Zeeben

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.

New units added to affordable housing supply

September 18, 2024/in BizNews This Week, Finding And Keeping Workers, Housing, Safe Communities/by Jim Zeeben

Adding to Greater Victoria’s housing supply is critical. We need affordable homes for individuals and families who want to live and work in our region, and we need housing for vulnerable people at risk of falling through the cracks.

Last week, the Capital Regional District‘s housing agency helped announce the opening of 97 new rental units at Michigan Square in James Bay. The Capital Region Housing Corporation project includes 23 homes at shelter rates, 22 at the affordable housing threshold of 30% of income and 51 at or below market rates.

“We’ve been hearing from employers for many years that finding and keeping workers is a challenge and one of the root causes of that is our cost of living,” Chamber CEO Bruce Williams said. “We’re lucky to live in a region that people aspire to move into but the high demand that creates on housing stock impacts the value of the available supply.”

Another 58 rental homes are also in the works, with 40 units at 2558 Quadra St. and 18 at 1276 Gladstone Ave.

The projects are able to move forward thanks in part to government leveraging underused land and offering loans for builders at better than bank rates.

GVHS adds 68 affordable rental homes in Victoria

August 14, 2024/in BizNews This Week, Finding And Keeping Workers, Housing/by Jim Zeeben

Affordable housing is vital to the health of Greater Victoria’s economy and The Chamber applauds news that 68 homes will remain accessible after being acquired by the Greater Victoria Housing Society. The GVHS purchased 68 homes on properties at 430 Michigan St. and 1500 Chambers St.

“We thank our partners, through the leadership of the Province, for working with us to purchase these two buildings in Victoria,” GVHS executive director Virginia Holden said. “For years to come, we will be able to preserve these units as affordable housing, ensuring that the residents have high-quality, safe, accessible and sustainable homes.”

The society has more than 65 years of experience and looks after 1,000 homes that house families, people living with disabilities, families and working singles and couples.

The Michigan Street property has 44 homes ranging in size from studio to two-bedroom units and 1500 Chambers St. has a total of 24 one-bedroom and two-bedroom units.

Both properties are close to transit and shopping and rent at below current market rates. Approximately 70% of homes in the two buildings are affordable for households earning median renter incomes in Victoria.

RapidBus times to benefit from highway investment

July 31, 2024/in Finding And Keeping Workers, Transportation Options/by Jim Zeeben

The commute between the West Shore and the Victoria core will be a little more convenient, the federal government said this week. A $95 million funding partnership between the feds and provincial government will widen 3.8 kilometres of highway between the McKenzie and Colwood interchanges. The change will create a continuous route for BC Transit‘s RapidBus Service.

The Chamber is an advocate for regional strategic transportation planning as a solution to shortening travel times in Greater Victoria. Convenient commuting is critical for enabling a regional workforce to help meet labour market demand.

Camosun College getting on-campus housing at last

July 17, 2024/in Finding And Keeping Workers, Housing/by Jim Zeeben

Funds announced today will provide on-campus housing for Camosun College students at the Lansdowne campus.

“This is something that The Chamber has long advocated for, and we’re happy to see funding finally made available,” Chamber CEO Bruce Williams said. “Building housing for students will open up affordable homes in the community. This is a smart solution to the housing crisis and will help people who face challenges finding a home in our region.”

The $154.7 million six-storey building is expected to be ready by fall 2027 and will house 423 students in single, studio and quad-unit types. The building will be constructed using mass timber, targeting LEED Platinum Standards.

Camosun is contributing $3 million to the project, with the rest of the funding coming from the province.

“On-campus housing brings various social, academic and personal benefits, including greater retention rates, while freeing up rental spaces in the surrounding communities,” Camosun College president Lane Trotter said.

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 building at 953 Balmoral is beautiful – both inside and out – and we know that people will be thrilled to call it home.”

Having homes for people is the cornerstone for safe communities, which enable businesses to create a vibrant, healthy economy that works for everyone. Chamber members have identified housing as an advocacy priority, and we continue to work to support the construction of more homes in our region. We also recognize that people experiencing homelessness often face mental health and addiction challenges and need housing with appropriate care.

“It should be common sense that everyone benefits when we invest in helping people to be part of our community and not become street entrenched,” Chamber CEO Bruce Williams said. “Our community partners at Victoria Cool Aid Society and BC Housing are doing some heavy lifting that will make life better for all of us.”

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 Council (VIATEC).

The sector has grown by 51% since 2017 and now supports more than 20,000 employees.

The report found that lifestyle was the top advantage for being located in Greater Victoria, followed by our climate and short commute times. The biggest challenges facing tech businesses are a lack of affordable housing for staff, our region’s high cost of living in general and our limited talent pool.

VIATEC started as The Chamber’s Advanced Technology subcommittee before becoming its own organization in 1989.

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 media release. “If we continue to see seasonal norms in our market, the upcoming summer months will be slower and quieter than spring was, as consumer priorities shift to vacations and outdoor pursuits. If the pattern continues, we’ll likely see an increase in activity as fall nears.”

There were 3,460 active listings at the end of June, up 3.7 % from May.

June’s benchmark value in the Victoria Core was $1,295,500 for a single family home and $567,900 for a condo.

Saanich approves 24-storey tower at Uptown

June 12, 2024/in Business And Economic Strength, Finding And Keeping Workers, Housing, Streamlined Regional Regulations, Transportation Options/by Jim Zeeben

A new tower that will create a notable landmark for people entering Greater Victoria’s core has been approved by District of Saanich council.

The 24-storey apartment building will house 318 rental units on the corner of Carey Road and Ravine Way. A residential building on the site was part of the original proposal for Uptown. The new building will also include commercial space and cycling amenities.

Saanch has a long-range vision for transforming the neighbourhood into a central hub that will become the heart of the municipality.