1st State Of The Economy Report Shows Insight & Statistics For Nanaimo’s Economy
NANAIMO – The City of Nanaimo has just released its first annual State of the Economy report, and the statistics show that Nanaimo is a growing community and a hotspot for new businesses, development and residents.
The report outlines our economy by analyzing the make-up of Nanaimo, from population to demographics and development to infrastructure. Data, analysis and insights on Nanaimo’s current economic and business conditions show that Nanaimo’s growth is outpacing Vancouver Island, BC and even Canada’s averages.
Amrit Manhas, Economic Development Officer
At almost 100,000 residents, the City’s population has grown by 35 per cent since 2001. With that growth, Nanaimo is seeing greater diversity within our population. In recent years, the majority of new Nanaimo residents have come from other areas within BC.
6,233 businesses were licensed in the City of Nanaimo in 2019 with the largest number of licenses within the Construction sector, followed by the Professional/Scientific/Technical sector and then the Retail sector. This is a 9 per cent increase in licensed businesses over the past decade, and a 16.7 per cent increase in businesses with employees.
Leonard Krog, City of Nanaimo Mayor
“This kind of growth and business climate is a reflection of everything that’s great about Nanaimo, from our infrastructure and our community of people and business professionals to our connected island location. Nanaimo is the place to be and our economy is showing that in a big way,” said Amrit Manhas, Economic Development Officer for the City of Nanaimo.
The service industry sector accounted for 83.1 per cent of Nanaimo’s employment base in 2019, and the goods-producing sector accounted for 16.9 per cent. The greatest number of jobs are provided by the retail, healthcare and social assistance sector.
These are just a few of the facts that show Nanaimo’s growing and desirable economy. Read the full State of Nanaimo’s Economy report for a much more detailed look.
“It’s true! Nanaimo is a hotspot and a very desirable place to live, work and invest. We’re saying yes to development, and with a growing community comes opportunity. We’re strong now, and we’re positioned for a positive future where we can all prosper,” said Leonard Krog, Mayor of the City of Nanaimo.
2020 State of the Nanaimo Economy