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/1490198
Category weights shown in brackets. Full methodology on page 40 JANUARY/FEBRUARY 2023 BCBUSINESS.CA 35 RENTAL VACANCY RATE PER 10,000 POPULATION (10%) RESIDENTIAL SALES PER 10,000 POPULATION (10%) HOUSING STARTS PER 10,000 POPULATION (10%) CHANGE IN JOBS PER 10,000 POPULATION (10%) AVERAGE ANNUAL UNEMPLOYMENT RATE (10%) ECONOMIC DIVERSITY (15%) 2022 RANK 1.7% 103 85 150 5.1% 729 18 2.5% 100 182 361 5.0% 776 19 1.0% 111 153 22 4.4% 852 20 1.1% 150 80 359 5.7% 843 21 1.6% 122 90 147 4.5% 835 22 0.6% 125 126 147 4.5% 810 23 0.4% 163 74 147 4.5% 869 24 0.0% 131 143 22 4.4% 849 25 0.7% 168 66 359 5.7% 842 26 1.4% 119 61 147 4.5% 799 27 3.8% 106 18 150 5.1% 729 28 1.5% 190 97 150 5.1% 772 29 1.3% 88 26 150 5.1% 707 30 1.2% 80 24 22 4.4% 833 31 1.5% 105 23 361 5.0% 738 32 1.1% 85 63 150 5.1% 761 33 5.8% 127 41 150 5.1% 749 34 Heynen. That oversupply of product is lock- ing up capital and leaving local businesses struggling to find warehouse space in which to store it all. While the labour shortage has been another ongoing issue for many industries and communities in the wake of the pan- demic, it hasn't been a particular challenge for OneUp. "Squamish is not a hard sell," Heynen says, noting that an explosive expan- sion of the region's trail network has shaped the city into a high-calibre riding destination for the larger biking community. "It has also convinced many other bike companies to establish a presence here, which helps to fos- ter and attract talent," he explains. "Almost all of our employees have come directly from this community." But a problem that Squamish did not completely escape is the decline in hous- ing affordability that is being felt across the province. "There is still quite a large talent pool around Vancouver and Whistler to draw from and Squamish remains competi- tive to those areas with regards to housing," says Heynan. "However, the advantage is being eroded quickly." Mayor Hurford cites a number of ongo- ing strategies the community is working on to help address the growing affordabil- ity challenges. These include an effort from local businesses to offer more flex- ible hours to help their employees juggle childcare needs, as well as the formation of the new Squamish Community Housing Society, which is tasked with increasing access to affordable housing for a broad demographic. Such planning takes a deft hand, how- ever: as decision-makers in Squamish and other B.C. communities work to increase their housing supplies, notes Hurford, an important consideration is that the new builds do not come at the cost of land desig- nated for employment or the amenities that are critical to keeping jobs and economies afloat. "We need to make sure that we keep that economic development lens solidly in place while we look at these land use deci- sions so that we don't erode our ability to be a thriving place to do business," he says. Heynen agrees: "It's a very tricky bal- ance to get correct," he says. While the business owner acknowledges the need for