INVEST in BC 2 0 2 4 19 Official Publication of the BC Economic Development Association in special partnership with BCBusiness.
REGIONAL
POPULATION (2023)
3,413,392
UNEMPLOYMENT
RATE (MAY 2024)
5.7%
TOP EMPLOYERS BY
INDUSTRY (2023)
Health care & social
assistance
12.4%
Retail trade
12.2%
Professional,
scientific &
technical services
11.6%
FORECAST
EMPLOYMENT
GROWTH, 2023-33
234,600
BUILDING PERMIT
VALUES (2023)
$15.4
BILLION
HOUSING STARTS
(2023)
35,389
VALUE OF MAJOR
PROJECTS PLANNED
OR UNDER
CONSTRUCTION
(Q4 2023)
$113.3
BILLION
BUSINESS
INCORPORATIONS
(2023)
41,718
SOURCES: B.C. L ABOUR
MARKET OUTLOOK , BC STATS
Ripple Effects
Being the epicentre for waves of migrants arriving in B.C., Vancouver and its
neighbouring communities drive economic opportunities to the far corners
of the Lower Mainland and the province as a whole
A
t the heart of Southwestern B.C.
lies Mission, for most of its history
a blue-collar, shake and shingle-
milling town on the banks of the Fraser
River. The population growth and housing
development that has taken over much
of the surrounding Fraser Valley was late
to arrive here. But these days, Mission is
changing faster than just about anywhere
in the province and is expected to double
its population of 44,000 very quickly.
Southwest Mission, a 3,400-acre area
designated for urban growth that will
accommodate approximately 40,000 res-
idents at build-out, recently adopted the
Silverdale Central Neighbourhood Plan,
opening up 1,811 acres for the development
of more than 10,000 new homes for 25,000
residents, three elementary schools and
two civic centres.
But the City of Mission has an even more
ambitious plan in the works, to reclaim
the largest undeveloped river frontage in
the Lower Mainland. It envisions a mix of
businesses, homes, shops and restaurants
covering nearly 300 acres along 3.5
kilometres of south-facing shoreline on
the Fraser River. The development will
also enhance infrastructure to provide
flood protection to areas inland. The
city has created the Mission Bridgehead
Investment Corporation to help spearhead
the project and coordinate efforts between
the city and private landowners.
The idea has turned heads such that the
Economic Development Association of
Canada sponsored a team from Mission to
present its plan at a major international
gathering of investors in France. In March
2024, Mayor Paul Horn and other city
representatives showcased the waterfront
plan at the MIPIM real estate investment
conference in Cannes.
MAKING A SPLASH
To understand why Mission is evolving
the way it is, and why now, you have to
understand the forces driving growth
throughout the region. The Mainland/
Southwest is by far the most
M A I N L A N D / S O U T H W E S T
CIT
Y
OF
MISSION
(ALL
PHOTOS)
TURNING HEADS:
Mission's plan to
transform its Fraser
River foreshore
(opposite page, and
renderings above
and right)
