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Issue link: http://digital.canadawide.com/i/1498118
conditions are likely to 'normalize' somewhat, such that the number of job seekers again exceeds the number of job vacancies," they predicted. Central1 forecasts 1.5% population growth in 2023, 1% employment growth and an unemployment rate averaging 5.9%. The credit union projects real GDP growth of 1.3% this year and 2% next, against a backdrop of continued inflationary and interest-rate pressures globally. Consumer spending will continue to inch upward, despite a pullback in the housing sector related to the rise in interest rates. So, while growth may be slower than in the immediate aftermath of the pandemic, the provincial economy is expected to keep moving forward. BLUEPRINT FOR THE FUTURE B.C.'s consistently positive economic performance so far this century can be attributed to a combination of luck, desirability as a place for talented people to live and a maturing industrial base no longer subject to the oscillations of natural resource pricing. Last year the provincial government came out with a uniquely comprehensive plan to further harness these advantages to support clean and inclusive growth going forward. Built partly on the work of University College London professor and economic advisor Mariana Mazzucato, the StrongerBC Economic Plan identifies priorities including supporting people and families by enabling higher after- tax incomes, providing more accessible health and child care and expanding educational opportunities; building resilient communities able to withstand the challenges of climate change, offer affordable housing and provide 21st- Century infrastructure such as high-speed internet; and advancing reconciliation with Indigenous peoples. The plan outlines a pathway to a greener economy, one that will meet B.C.'s existing climate commitments and position the province as a leader in environmental and social responsibility by supporting clean technology adoption. It outlines ways to foster innovation across the economy by developing the talent pool and encouraging industries that add value to natural resources. Some specific actions by the B.C. government pursuant to StrongerBC include the Future Ready strategy, which provides funding for training in sought-after skills; creation of the InBC Investment Corp. to provide venture capital to companies committed to growing here; development of a Trade Diversification Strategy and an Industrial and Manufacturing Action Plan; and establishing an ESG Centre of Excellence to promote the adoption of environmental, social and governance principles. Expect more spaces for students in B.C. post- secondary institutions, a Mass Timber Action Plan to promote the use of this low-carbon building material and a new Indigenous-led economic development agency focused on First Nations communities. StrongerBC calls for all new buildings to be carbon-neutral as of 2030. "Since launching the plan, we have ac- celerated the timeline on closing the digital divide – giving more communities access to high-speed internet," said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. "We've also expanded ac- cess to affordable child care to help parents balance the needs of home and work. And we're making record investments in crucial economic infrastructure and housing, while providing support for growing new sectors such as life sciences, clean technol- ogy, and agritech. "The StrongerBC Economic Plan is working with a continued focus on having the backs of businesses and workers as we work through challenging times together and build a strong and sustainable economy that works for everyone," Bailey added. "An economy that is built for all is an economy built to succeed." • INVEST in BC 2 0 2 3 11 Official Publication of the BC Economic Development Association. In special partnership with BCBusiness. B.C.'S ECONOMIC DEVELOPMENT REGIONS CARIBOO KOOTENAY LOWER MAINLAND/ SOUTHWEST NORTH COAST/ NECHAKO NORTHEAST THOMPSON- OKANAGAN VANCOUVER ISLAND/COAST TOP: DESTINATION VANCOUVER/KINDRED & SCOUT GOOD TASTE: Culinary tourism got a boost following recognition by the Michelin Guides and Tripadvisor