BCBC In The News
Vancouver Sun, Pete McMartin: Lotus Land or lowest land? Does Metro have room for a future?
[EXCERPT] “For many young adults in particular,” emailed Jock Finlayson, executive vice-president and chief policy officer at the Business Council of B.C., “Vancouver increasingly has become a place where ambition goes to die. Huge numbers of young adults with educational credentials are under-employed in this market and are likely to stay that way if they remain here.
“In the crass language used by economists, those who want to ‘maximize their human capital’ are well advised to look elsewhere, or at least to be flexible as to where they are willing to live and work once they complete post-secondary education. Geographic mobility is important for individuals — particularly younger age cohorts — who want to put their education and skills to best use, in an economic/financial sense.”
First Nations Inc: Entrepreneurs take over
Tom Syer, the B.C. Business Council’s specialist on aboriginal issues, acknowledges that aboriginal businesses are well below the roughly 5.4 per cent share of the B.C. population made up of First Nations and Metis people.
But he said it’s clear the gap is narrowing, and a study by the Canadian Council for Aboriginal Business noted that there were 37,000 self-employed aboriginal people in Canada, as recorded in the 2006 census, up 38 per cent from 2001. The growth rate was more than five times the overall Canadian rate of seven per cent.
Vancouver Sun, Barbara Yaffe: Attention Shoppers: retail revolution headed to Vancouver
With a newly rebounding retail sector, Vancouver is gearing up to enter the shopping big leagues in 2015.
“After a number of years of sluggish growth, retail sales in B.C. have made some impressive gains recently,” says Ken Peacock, chief economist at the Business Council of B.C.
Times Colonist: Island shows manufacturing might
Greater Victoria manufacturing firms are turning out products to export world-wide, but no one really has a firm handle on the sector’s value to region’s economy.
So a survey is being launched to develop a clear picture of those businesses and to find out what they need to survive and expand. The Greater Victoria Development Agency, Western Economic Diversification, post-secondary schools and other agencies are behind the study. The survey is part of a three-year initiative announced in April to promote international trade.
It comes as the Business Council of B.C. is urging the province to pay more attention to manufacturing and seek ways to help the high-value sector grow.
Vancouver Sun: Whistler loses visitors as jobs go unfilled
[EXCERPT} Both Winter and Jock Finlayson, an economist and executive vice-president of the B.C. Business Council, said Whistler and other communities, especially remote boom towns, can make a compelling case to Ottawa.
“The evidence suggests that few Canadians are prepared to leave urban communities to re-locate to small northern towns to take entry-level service jobs, even if the pay for these jobs exceeds what’s on offer for similar positions in cities or larger towns,” Finlayson said.
Business in Vancouver: Asian economy slowing down, but BC exports to China and other key trading partners still rising
[EXCERPT] But the pace of growth in B.C.'s exports to China is slowing, and that will have an impact on B.C., according to Ken Peacock, chief economist at the Business Council of BC. With monthly growth hovering around plus or minus 2% compared with the previous year, exports to China are essentially flat, Peacock said.
“When you go from 10%, 15%, 20% year-over-year growth to essentially flat, that is a little bit of a different world.”
Pique: Apply here: Whistler is booming, but businesses struggle to keep up
Help signs decorate business windows, online job boards are filled with posts and the back pages of the newspapers are stocked with ads for positions from servers to construction workers — and everything in between.
Whistler employers, across almost all sectors, are in the midst of what some say is the worst labour shortage they have seen in years.... [Excerpt]
Chief economist and vice president of the Business Council of British Columbia, Ken Peacock, said the council is seeing some similar shortages to Whistler's, regionally.
"Our sense is province-wide, in the large urban areas, we don't have this crunch, but some of our big resorts around the province struggle with this in both the winter and the summer months, particularly with the tourism in the summer months," he said.
According to Peacock, part of the issue is tourism in B.C. seems to be up.
Vancouver Sun, Barbara Yaffe: Olympic legacy paying off for BC
The 2010 Olympics, one of too few government initiatives aimed at bolstering B.C.’s crucial tourism sector, may be yielding some delayed benefit.
A new report by the B.C. Business Council points to a serious slump in the industry between 2002 and 2009, and gives considerable credit to the Games for the fact a tourism “upswing is now underway.”
Vancouver Sun, Barbara Yaffe: Lagging labour stats put BC near bottom of pool
[EXCERPT] Jock Finlayson, chief policy officer at the Business Council of B.C., explains: “Relative to other provinces, I believe it is fair to say that B.C. has proportionately more working-age people who, when asked to make the classic work/leisure trade-off, opt at the margin for more leisure.
“This is a matter of personal preference and priorities.”
Surely a somewhat inconvenient decision, however, given that B.C.’s living costs tend to be higher than in other provinces.
Finlayson also notes B.C. has a relatively high number of pre-retirees — people who may be working less than full time as they ease into retirement.
And B.C. has more part-time workers, although this factor “shifts depending on the business cycle and underlying strength of the economy.”
Then too, “the job market in B.C. has been surprisingly soft for the past two years or so. We have had among the slowest rates of job growth in the country.”
Vancouver Sun: Unique BC storehouse of data could save health dollars
B.C. has a vast repository of health and demographic data, collected over the past 40 years, that has yet to be fully exploited to improve patient outcomes, save money and create jobs.
Business in Vancouver: Business council scales back growth outlook of B.C.’s ‘mediocre’ economy
A slightly weaker global economy, the province’s soft job market and delays in the proposed liquefied natural gas (LNG) boom are making the Business Council of B.C. (BCBC) to scale backs its economic forecasts in the coming year.
Vancouver Sun, Vaughn Palmer: Premier's positive spin can't shake concerns about Tsilhqot'in title decision
As reaction spreads outward from the Supreme Court of Canada’s landmark recognition of aboriginal title, the B.C. Liberals maintain the decision won’t have a chilling effect on the investment climate.
Vancouver Sun: Business Council reduces expectations for B.C. economic growth
After years of double-digit growth, the value of British Columbia’s exports to China declined slightly over the first five months of 2014, which is one of the factors taking momentum out of the provincial economy, according to the latest forecast of the Business Council of B.C.
Vancouver Sun, Peter O'Neil: Ottawa hopes for new deal to pull down east-west trade barriers
The Harper government is poised to release a major policy paper aimed at seizing a once-in-a-generation opportunity to finally rid the country of internal trade barriers, some of them “extraordinarily stupid,” says Industry Minister James Moore.
Huffington Post (Canadian Press): Supreme Court ruling grants land title to BC First Nation
The B.C. business community for decades has navigated the daunting landscape of the province's few treaties, many land claims and hundreds of one-off provincial benefits agreements.
Greg D'Avignon, president of the Business Council of B.C., said the ruling provides greater certainty about the land base but it immediately spurred comment about projects like the Northern Gateway and Trans Mountainpipelines.
Vancouver Sun, Barbara Yaffe: Tax burden blunts competitive edge in BC
When it comes to ensuring businesses stay competitive, the provincial government has been acting as though the sector can get by on B.C.’s good looks alone.
Sure, B.C. is a gorgeous place to do business, endowed with good infrastructure, lots of natural resources, a skilled workforce and relatively healthy public finances. But in a recent policy paper, the Business Council of B.C. criticizes the Clark government for failing to address a problem dating back to the April 2013 reinstatement of the PST.
Prince George Citizen: Time has come for William Case
Here's the B.C. Business Council on the economic implications if the court makes it easier to prove aboriginal ownership of land and resources in a province with 200 recognized First Nations, many asserting overlapping claims.
"Business and industry in B.C. requires certainty and predictability in order to invest, plan, operate and provide employment and prosper," wrote the council in arguing that the entire provincial economy could be held hostage by title cases.
"There must be certainty concerning the application of provincial law, particularly in respect of resource tenures granted by the Crown," it continued.
"If provincial law does not apply to any lands found by a court to be subject to aboriginal title, there will be a legislative vacuum that will hamper investment and the creation of jobs and will endanger the viability of existing operations and jobs in B.C."
Vancouver Sun, Vaughn Palmer: Top court's First Nations land title decision looms large
Twenty-five years ago this summer, native people in a remote valley of the central Interior set in motion the most important court case to date involving First Nations ownership of land in B.C.
Financial Post: BC businesses worry Northern Gateway clash could scare off investors
According to a recent report by the Business Council of British Columbia, B.C. has experienced a significant loss of working-age individuals to Alberta in the past two years. Some are continuing to reside in B.C. but work in Alberta.
“This flow of people is skewed heavily towards younger people, which suggests they are moving to secure better jobs and perhaps also to take advantage of lower housing costs in Alberta,” the April 2014 report says.
Times Colonist: Northern Gateway: Business hails business potential
Business Council of B.C. president Greg D’Avignon said if Canada doesn’t send oil to fuel-hungry China, other countries, such as Kazakhstan or Iraq, will. Asia has three billion new middle-class consumers, he said.
“They are growing exponentially in Asia and South Asia. We’ve got the ability to apply Canadian innovation and sustainability practices and export those around the world in a way that really makes a difference.”
Russia recently concluded a long-term agreement to bring natural gas to China, now seeking more energy sources, D’Avignon said. “Canada has to be one of those countries to supply it."