News Impacting Business In British Columbia
Annual Report Reveals Nanaimo Housing Starts Up 50 Per Cent
NANAIMO – A surge in housing starts last year and a projected shift to a younger population are just some of the reasons for optimism in the City of Nanaimo’s recent economic report. The annual State of the Nanaimo Economy report shows that home sales and prices reached record levels, and new housing starts increased by 50 per cent in 2021. For the first time, the 25 – 44-year-old age group will grow faster than the 65-plus cohort in the coming decade.
“Nanaimo’s economy is doing well, and as more and more people discover us, they are voting with their feet to live, work and invest here,” said Mayor Leonard Krog, “It is why we are pushing ahead with a re-imagined downtown streetscape, and it is why we are about to launch a new economic development group and have re-invigorated our tourism agency.”
See full report here.
HES PV Announces Name Change
VICTORIA – HES PV Ltd. announced that it has changed its name to Charge Solar.
For over ten years, HES PV has been the largest solar distribution and engineering services company in Canada. In 2021, the company doubled its revenue and acquired its top competitor, Sentinel Solar. The company will continue to provide market-leading service, dedication to quality, and industry leadership under a new, more modern name and brand.
“We’re excited to launch our new chargesolar.com website today along with the new Charge Solar brand,” said Jeff MacAulay, Charge Solar’s Chief Executive Officer. “We feel that the new brand better reflects our mission to accelerate Canada’s Clean Energy Transition by leading the solar and storage industry.”
See full report here.
Trevor Koot to Join BCREA as Chief Executive Officer
BRITISH COLUMBIA – The British Columbia Real Estate Association (BCREA) is pleased to announce the appointment of Trevor Koot as the new Chief Executive Officer (CEO).
An experienced business leader with a deep background in organized real estate, Koot will succeed Darlene K. Hyde and assume responsibilities on April 19, 2022. To ensure a smooth transition, Hyde’s last day with BCREA is April 30, 2022.
See full report here.
Okanagan Tourism Industry Promising For 2022
KELOWNA – In 2021, Kelowna and area’s tourism industry posted year-over-year gains compared to 2020 but remained behind pre-pandemic levels due to the ongoing pandemic and weather-related challenges. Early indicators and predictions for 2022 show that unless unexpected challenges arise, the local tourism industry expects strong performance. However, following two years of significantly reduced revenues, it will still take time for local tourism businesses to recover losses incurred during the last two years.
“Last year we saw early momentum cut short and additional challenges placed on our industry in the second half of the year,” said Lisanne Ballantyne, President & CEO of Tourism Kelowna.
See full report here.
Temporary Foreign Workers: CME Welcomes The New Road Map
OTTAWA – Canadian Manufacturers & Exporters (CME) welcomes the announcement of the Temporary Foreign Worker (TFW) Program Workforce Solutions Road Map by the Employment, Workforce Development and Disability Inclusion Minister Carla Qualtrough to address labour shortages across Canada.
Removal of the limit to the number of low-wage TFW positions and the increase of maximum duration of TFW positions for employers in seasonal industries, increase of the validity of Labour Market Impact Assessments (LMIA’s) up to 18 months, the extension of the maximum duration of employment for High-Wage and Global Talent Streams workers to three years, and the increase of the 10 per cent cap on the number of TWF in low-wage positions to 20 per cent, and even to 30 per cent in certain sectors will support Canadian manufacturers to address labour and skills shortages in the short term.
See full report here.
