INVEST in BC 2 0 2 4 27
VA N C O U V E R I S L A N D / C O A S T
REGIONAL
POPULATION (2023)
934,721
UNEMPLOYMENT
RATE (MAY 2024)
4.7%
TOP EMPLOYERS BY
INDUSTRY (2023)
Health care &
social assistance
16.5%
Retail trade
12.6%
Public
administration
9.6%
FORECAST
EMPLOYMENT
GROWTH, 2023-33
58,500
BUILDING PERMIT
VALUES (2023)
$3.5
BILLION
HOUSING STARTS
(2023)
7,292
VALUE OF MAJOR
PROJECTS PLANNED
OR UNDER
CONSTRUCTION
(Q4 2023)
$27.1
BILLION
BUSINESS
INCORPORATIONS
(2023)
5,226
SOURCES: B.C. L ABOUR
MARKET OUTLOOK , STATISTICS
CANADA AND B.C. STATS.
recognizing economic development
initiatives that benefit the community
and region. But it's just one of a host of
new developments taking shape in the
Vancouver Island/Coast region.
ATTRACTING PEOPLE
With its seemingly endless stretches of
scenic seashore and the mildest climate
in Canada, Vancouver Island and the
Sunshine Coast has long been a magnet
for migrants seeking a congenial lifestyle.
The advent of remote work has enabled
former residents of high-cost Canadian
cities to decamp to the Island in ever
greater numbers without changing careers.
The population is rapidly approaching
one million and construction—in large
part dedicated to building new homes—is
a major employer, providing 8.8 percent
of jobs.
PEOPLE PLACE:
The Langford
Station redevel-
opment won this
year's Community
Project Award
from BCEDA
Official Publication of the BC Economic Development Association in special partnership with BCBusiness.
