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Issue link: http://digital.canadawide.com/i/1498118
Economics forecasts that Vancouver Island/Coast will have the strongest employment growth in the province in 2023 at 3.1%. Langford's torrid growth has a lot to do with the availability of developable land there and in its neighbouring western communities of Colwood, View Royal, Metchosin and Highlands— demographically, the Capital Region is moving westward. A new multi-school downtown campus is being built in the municipality to accommodate new classroom space for the University of Victoria, Royal Roads University, the Justice Institute of B.C., Camosun College and the Sooke School District serving area students. The community is also opening new industrial space with Langford Heights Business Park and Pacific Ridge Business Centre. In 2021, Plexxis Software decided to move its entire headquarters from Brampton, Ont., to Langford, along with 100 jobs. It now calls the Plexxis Tower in the Lakepoint district its home base. Further up the Island, Nanaimo recently completed a new city plan that will support thoughtful growth while protecting natural and physical assets and supporting fluid and efficient mobility. The city projects that it will continue growing to 145,000 residents by 2047. The number of businesses has been growing along with the number of people—up 9% over the past decade. In just the last five years, the number of sole proprietorships has gone up 8.1%. Already a centre for health services for the mid-Island, Nanaimo Regional General Hospital recently opened an acute care ICU. Vancouver Island University continues to grow; students from more than 90 countries have attended its International MBA program. A new 178-room Courtyard by Marriott hotel is opening in 2023. Later this year a high-speed passenger ferry service between Nanaimo and Vancouver is due to launch, making the city even more accessible for business and leisure travelers. Telus has partnered with developer Omicron to build 197 rental homes on a vacant portion of the telecommunications company's office in downtown Nanaimo. EMBRACING SUSTAINABILITY Nanaimo is home to some innovative economic development initiatives too. Businesses looking to develop sustainable processes can take advantage of support from the Circular Economy Accelerator program. Likewise, eight mid-Island communities have banded together to nurture a technology cluster under the Vancouver Island Tech Attraction Project. Further up-Island, the City of Campbell River has likewise invested in initiatives supporting a healthy business ecosystem including CRadvantage, a municipally owned high-speed broadband network; TECHatchery, a virtual business hub; the Modern Entrepreneur at the 50th Parallel professional development series; and NexStream Tech Competition, made possible through a partnership with the Campbell River Area Angel Group. The City is a proud regional partner supporting the new Circular Economy Accelerator Program run by Vancouver Island VA N C O U V E R I S L A N D / C O A S T REGIONAL POPULATION 924,405 UNEMPLOYMENT RATE 2.7% TOP EMPLOYERS BY INDUSTRY Health care & social assistance 15.3% Retail trade 12.4% Public administration 9.5% FORECAST EMPLOYMENT GROWTH, 2022-32 67,100 BUILDING PERMIT VALUES (2022) $3.8 BILLION HOUSING STARTS (2021) 7,415 VALUE OF MAJOR PROJECTS PLANNED OR UNDER CONSTRUCTION (Q3 2022) $31.1 BILLION BUSINESS INCORPORATIONS (2022) 5,149 SOURCES: B.C. L ABOUR MARKET OUTLOOK , STATISTICS CANADA AND B.C. STATS. TOP LEF T: CIT Y OF L ANGFORD 28 INVEST in BC 2 0 2 3 Official Publication of the BC Economic Development Association. In special partnership with BCBusiness.