December 2019 - January 2020 Best Cities for Work in B.C.

With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.

Issue link: http://digital.canadawide.com/i/1184822

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Page 33 of 71

2020 RANK 2019 RANK COMMUNITY AVERAGE HOUSEHOLD INCOME (10% WEIGHT) AVERAGE HOUSEHOLD INCOME UNDER 35 (10%) SAANICH $110,778 $92,338 VICTORIA $80,843 $71,963 SURREY $108,988 $91,112 PITT MEADOWS $116,266 $110,918 CITY OF LANGLEY $81,916 $79,522 TERRACE $107,225 $97,837 VERNON $88,647 $82,142 ABBOTSFORD $103,813 $90,005 PORT COQUITLAM $111,167 $100,924 DAWSON CREEK $110,338 $107,847 COMOX $96,608 $87,857 BURNABY $96,721 $77,770 MISSION $103,948 $98,531 PENTICTON $86,690 $84,054 SECHELT $85,726 $74,358 SUMMERLAND $99,436 $86,226 KAMLOOPS $104,291 $90,389 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 23 36 14 29 7 17 28 40 18 30 35 32 38 27 12 42 37 T H E E L E P H A N T I N T H E R O O M Despite having two communities in the top 10—the Township of Langley and the District of North Vancouver—Metro Vancouver cities gen- erally underperformed this year, with a collec- tive tumble of 44 spots in the ranking. One notable exception is Pitt Mead- ows, which jumped eight places, thanks to a solid suite of income indicators and healthy recreational spending. New Westmin- ster, buoyed by growth in income and popula- tion, and Burnaby, with a booming residential construction market, both saw a three-place improvement. Leading the Metro Vancouver slide were the City of Langley and Richmond, each falling 15 places, to No. 22 and No. 35, respectively. The City of Langley was wracked by underwhelm- ing average household incomes, shrinking rec- reational spending, growing commute times and a slight dip in housing starts compared with last year. Dragging Richmond down: low aver- age income for younger workers and some of the most expensive housing in the province. Vancouver, continuing a downward trend from the previous year, fell an additional six places. Sluggish population growth, lengthy commutes and B.C.'s highest shelter costs continue to suppress it in the ranking, even with low unemployment, respectable income growth DRIVEN BY HIGH HOUSEHOLD INCOMES, DOUBLE-DIGIT POPULA- TION GROWTH AND LOFTY SPENDING ON RECREATIONAL ACTIVITIES, THE TOP THREE CITIES HAVE REMAINED ECONOMICALLY RESILIENT DESPITE THEIR RELATIVELY HIGH COSTS OF LIV- ING. IN THE CASE OF SQUAMISH, A HOT RESIDENTIAL MARKET PUNCTUATES ITS FIRST- PLACE STANDING 34 BCBUSINESS DECEMBER/JANUARY 2020 URBAN DECLINE Surrey barely cracked the top 20, reflect- ing a slide for Metro Vancouver cities ISTOCK

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