Growing Business

in BC’s Capital City

Victoria’s Economic
Development Strategy
Table of Contents
Message from Mayor Dean Fortin.................................... 3 Our Victoria Economy..................................................... 15
Growing Business in the Capital City:.............................. 5 Victoria’s Strategic Focus Areas..................................... 17
Creating A Sustainable Economy..................................... 7 Economic Areas in Detail............................................... 19
The Big Picture: Measuring Progress....................................................... 25
Victoria in a National and Global Context......................... 9 Poised for High Economic Performance........................ 29
Regional Cooperation..................................................... 11 A Collaborative Effort...................................................... 31
Our Economic Vision for Victoria.................................... 13

City of Victoria | economic strategy Plan 2011–2012 1

2 economic strategy Plan 2011–2012 | City of Victoria
Mayor’s Message
It is my great pleasure to introduce the City of Victoria’s Economic
Development Strategy. I encourage you to take the time to read
through this document, contemplate the ideas and principles
presented, and then help us make sure this plan comes to life
in every corner of our great city.
We all know that economic development is fundamental to a healthy
and sustainable city. In order to pursue our larger community goals
of creating affordable housing and ending homelessness, building
a more robust transit system, and investing in our vibrant downtown
and neighbourhood villages, we need a strong economy. We need
an economy that embraces innovation and creates household
sustaining jobs for our residents and our region.
With this goal in mind, we have worked with a committed group of
community leaders over the last year to put together an economic
development strategy that strives to match quality of life with quality
of opportunity. We want to make sure that City Hall is doing our part
in fostering sustainable growth we can all benefit from.
The aim of the plan is to foster the conditions for more jobs and
investment to come to our City, to diversify the economy, create
a community where residents stay because everything they
need is available here, and ensure the City is fiscally strong for
future generations.
We have many thriving industries in Victoria – tourism, education,
marine use, and high tech. We are a Pacific gateway, with lots to
offer the province, country and the world. With a strong overarching
strategy we can work together to grow our city in a way that makes
sense fiscally, environmentally, and socially.
This strategy was developed through collaboration and I want
to thank all the members of that Advisory Panel for their time and
dedication to the City of Victoria. Now, as a community, we have to
work together to put this strategy into motion and achieve real results.

Sincerely,

Dean Fortin
MAYOR

City of Victoria | economic strategy Plan 2011–2012 3

4 economic strategy Plan 2011–2012 | City of Victoria
Growing Business
in the Capital City
Victoria is known for our commitment to sustainability and we strive
to live within our means while improving on one of the highest quality
of life rankings in the country.
Victoria is a natural place to do business. Victoria’s southern Proximity to Vancouver and Seattle offers a large local
most location on Vancouver Island gives the area a special short-stay visitor market and potential access to Canadian
character in terms of size, charm, pace of life, and off-the- and international visitors travelling through Vancouver.
beaten- path feel. This draws people to visit and live for Proximity to Vancouver creates the possibility to enjoy
lifestyle and environmental reasons. the Victoria lifestyle while doing business in the large
The west coast, oceanside location provides marine southwestern BC urban region.
opportunities, bolstered by the presence of the Navy, the Victoria offers a high quality of life with a beautiful
coast guard, shipyards, and ocean-related research and natural setting, attractive urban and rural communities,
technology businesses. excellent public services, a moderate climate, and
Victoria has a strong image defined by its history, heritage sound local government.
architecture, role as the provincial capital, and icons such Victoria is hotbed for a talented and diverse pool of
as the iconic Empress Hotel and the Legislature. This creative, innovative people in technology, arts and culture,
identity helps draw visitors and residents. agriculture, local food processing and other pursuits.
The region is geographically small, which makes it easy The City of Victoria is committed to ensuring that Victoria’s
(by big city standards) to get around, and the urban core economy is prosperous, innovative and entrepreneurial and
is compact and walkable. we remain a vibrant centre for government, business and
cultural activity to thrive.

Victoria, British Columbia > Fast Facts

Located at the southern Demographics Climate Geographic area
most tip of Vancouver • Population – approx. Located in sub-Mediterranean • 19.4 square kilometres,
Island, Victoria is a 83,000 zone, Victorians enjoy some of or 2.8% of the regional
community of choice for its the most moderate weather in land base
temperate climate, natural • Victoria’s population
all of Canada. Victoria boasts • Serves as the metropolitan
beauty, recreational sites represents 22.6% of the
an average of 2,183 hours of core for a region of approx.
and superior economic regional total
sunshine yearly, and an eight 360,000
opportunities. • Median age 41.7 month frost free season. • Over 3 million visitors
Capital of British Columbia • The largest segment of our Average annual rainfall is annually
established in 1862 population is between the 26.2 inches (compared to over
ages of 25 and 39 years 50 inches in New York).
• 28% of Victoria residents
have a University
certificate or degree

City of Victoria | economic strategy Plan 2011–2012 5

6 economic strategy Plan 2011–2012 | City of Victoria
Creating a Sustainable Economy
Economic sustainability means maintaining a strong commercial
and industrial tax base, increasing the diversity and resilience of
the economy, and providing a variety of employment opportunities
for residents.

With growing concerns about climate change and the

impact of economic growth on the world’s ecology, some A Strong Economy
people in the community think that Victoria should not
encourage population or employment growth. However,
Makes Victoria More
Canada has a growing population and a legal, social, Sustainable
and economic framework in which people and wealth are
• Adding jobs and tax base in
mobile. People can move, live, work, and invest where they
sectors that add opportunity but
want and they tend to be attracted to communities with the
do not erode the environment.
most to offer.
• Increasing the diversity of the
Businesses are able to grow in a market-based economy
economy so it is more resilient
and, like people, move to communities that are attractive.
in downturns and transitions.
Consequently, some communities in Canada such as
Victoria will continue to grow. Considering that achieving • Enabling residents to remain in
a steady state is not possible in an open society and that the community because they
decline has negative impacts such as eroding tax base, can find work and obtain the
job loss, and aging infrastructure, Victoria aims for services they need.
moderate, low impact growth to maintain economic, social, • Ensuring that the City is fiscally
and environmental sustainability. With this in mind: strong so that it can create and
• Victoria’s population will continue to grow at a modest maintain greener community
pace because families will have children and the infrastructure and services.
City’s attractive character will attract new residents • Reducing energy consumption
and businesses. and waste.
• These new residents will need homes and services;
• Localizing more of the economy,
many will want employment.
to create more services and
• As population and employment growth occur in products in the community,
Greater Victoria, it is better to accommodate this reduce the environmental
growth in a compact urban form that is well served costs of moving people and
with transit, uses green infrastructure and building goods, and reduce reliance on
technology, lowers carbon footprint, generates less outside economic forces.
waste, and enables healthy living.
• Preparing for possible
• The pursuit of sustainability in Victoria does not mean
environmental and economic
stopping urban change or employment growth; it
shifts due to climate change,
means growing at a moderate pace, with reduced
increased energy costs, less
ecological impact and reduced waste, in a community
reliance on fossil fuel, and
that is fiscally robust, that can afford the services and
reduced resource consumption.
infrastructure that residents need, and that promotes
the well-being of all of its citizens.

City of Victoria | economic strategy Plan 2011–2012 7

8 economic strategy Plan 2011–2012 | City of Victoria
the big picture:
Victoria in a National
and Global Context
The Greater Victoria region is the 15th largest metropolitan area
in Canada. Being a relatively small urban centre, on an island,
and close to Vancouver, Victoria’s economic is based on an
understanding of the national and global context. Some major
“big picture” trends and prospects that will affect Victoria are:
• Continued population growth and urbanization. • Climate change and adaptation.
Canada’s population will keep growing, in large part due Over the next century, there will be rising sea
to immigration, and will continue to grow most in cities. levels, shifts away from fossil fuels, and increased
The outlook for Victoria is almost certainly continued transportation costs. Victoria will have to adapt its
moderate population growth over the next few decades. shoreline, adapt to changes in the tourism industry,
and become more self-sufficient for food and some
• Aging.
manufactured goods.
Victoria already has a relatively old population, by
Canadian standards, and this trend will continue. In • Uncertainty. The last several years have been a roller-
order to be attractive to knowledge-based employers coaster ride with regard to the global economy, housing
(tech, post-secondary education, health) Victoria markets, the fiscal soundness of some countries,
must find ways to also appeal to Victoria largest employment, and confidence.
demographic, the younger people who make up the While Canada has fared better than many countries,
labour force. and BC has fared better than some provinces, Victoria
• Increasing importance of quality of life. is not immune from economic downturn and uncertainty.
Technology has enabled many kinds of employment The tech sector, domestic and international travel,
to be more mobile and the increased importance of the shipbuilding, public sector employment…all of the
knowledge economy means fewer jobs are anchored mainstays of the local economy are facing challenging
to a specific location by raw materials or customers. and uncertain times. To be resilient, Victoria should not
Firms can locate where they will have access to labour, depend solely on shares of “external” growth; it needs
competitive business environments, and amenities. to bolster its existing economic base and it needs to
One of the most important things Victoria can do to think about ways to foster local economic opportunity
maintain a robust local economy is to keep building using local capacity.
an attractive and livable community with a safe and continued >
enjoyable urban environment, an excellent school
system, a quality health care system, and a high
quality natural environment.

City of Victoria | economic strategy Plan 2011–2012 9

The Big Picture: Victoria in a National and Global Context, continued
• Competition. including greater competition and exposure to world
There is increasing competition for firms, particularly in financial volatility. At the same time, climate change,
technology, from local governments, states/provinces, the mounting pressure to reduce emissions and use
and countries trying to strengthen their economies. less energy, and a desire for more local control over
There is an enormous competitive effort to lure jobs economic decisions are building increased interest in
using income tax credits, cheap land, reduced property a more localized approach to economic development
taxes, and other incentives. Victoria will have to manifested in trends such as local food sourcing, import
determine how it wants to compete in this context. substitution, and support for small business. Victoria
will continue to rely on the external national and global
• The tension between globalization and localization.
economies for most of its future employment growth
The world’s economy is increasingly inter-connected,
in important sectors such as technology, tourism, and
creating opportunities and risks. Globalization benefits
marine services. There are also opportunities to expand
Victoria by creating opportunities in technology,
the local dimension of the economy. Victoria should not
specialized consulting services, arts/culture, and other
view this as an “either/or” problem: the City should take
sectors that can provide goods and services to an
advantage of both kinds of opportunities.
international market. Globalization also creates risks

Opportunities for Victoria:

• Diversify the economy, to reduce heavy reliance on two sectors.
• Be active in building the local economy, rather than relying on what has worked in the past.
• Focus on sectors that are particularly appropriate to Victoria.
• Take a long view of the effects of climate change on Victoria’s environment and economic base. Plan for resiliency.
• Emphasize quality of life and quality of community.
• Build on local opportunities that are less reliant on importing visitors, businesses, and investment. Don’t rely solely on
attracting investment and employment from outside.

10 economic strategy Plan 2011–2012 | City of Victoria

Regional Cooperation
There is an economic interdependence that exists in the Region and
as a result there is a strategic need to cooperate.
Victoria is the urban core of the Capital Region, with the Provincial
Government headquarters, national and international name recognition,
major attractions that draw visitors, and the area’s largest concentration
of office space, cultural facilities, and entertainment. Victoria’s brand
is a key source of the economic vitality of the whole region.

At the same time, the surrounding communities contribute • There are some aspects of the regional economic
economic advantages that the City of Victoria relies on. base that are best suited to the urban core. These
These communities offer the land base to accommodate include government headquarters, major office-based
residential, commercial, and industrial growth as well as specialized business services, specialty retail, major
key economic assets such as the major post-secondary arts/culture facilities, and large components of the
educational institutions, transportation gateways and tourism sector. Although some types of office use are
agricultural land. appropriate in regional town centres, the City should
remain the region’s Downtown.
This inter-dependency suggests the importance of
cooperation in economic development. Cooperation • The City should retain its existing employment in ship
between regional municipalities for regional benefit repair and related industries and existing manufacturing
can be productive, but each municipality must still employment.
protect its economic interests. • Growth in the technology, health, and education sectors
Victoria and the surrounding municipalities are inter- will distribute throughout the region, with jobs variously
dependent and rely on each other’s strengths to draw attracted to the UVic area, lower density business
economic growth to the region park sites, specialized locations (e.g. the vicinity of
the Institute of Ocean Sciences/Pacific Geosciences
Cooperation and understanding of the regional context
Centre), and the urban core in Victoria. The City should
is key to economic development in Victoria:
aim to attract a share of these jobs but also cooperate
• Municipalities in the region should cooperate on regionally to increase the total amount of technology
initiatives that help strengthen the whole regional employment.
economy. All communities benefit when regional
• Housing in the City creates demand for retail and
employment grows. The municipalities in the region
service business, reduces dependence on commuting,
should cooperate on key economic issues of mutual
and can help attract office-based businesses to the
benefit such as regional transportation improvements,
core due to the proximity of housing for employees.
marketing, business recruitment, support for research
Victoria should aggressively encourage higher
and development funding at universities, and support
density residential development in downtown and
for the technology sector.
other neighbourhoods designated in the City’s official
community plan for multifamily residential.

City of Victoria | economic strategy Plan 2011–2012 11

12 economic strategy Plan 2011–2012 | City of Victoria
Our Economic Vision for Victoria
Victoria is a city with strong traditional mainstays of the local
economy and taps into new opportunity. Our economy is resilient
to global shifts and economic cycles due to its diversity.

A collaborative relationship with regional economic partners nurtures

the regional economy, while ensuring that Victoria is competitive and
grows its own interests to attract a reasonable share of the region’s
growth in commercial and industrial floor space.

Our economy is improving while we continue to protect our special

character, our environment, our quality of life and social wellbeing
of the community. We are sustainable.

Victoria is a city where we are growing the total number

of jobs and the commercial and industrial tax base.

City of Victoria | economic strategy Plan 2011–2012 13

14 economic strategy Plan 2011–2012 | City of Victoria
Our Victoria Economy
The City of Victoria’s commitment to economic development is vested
in everything we do. The strategic goals and objectives as outlined in
our corporate strategic plan guide our efforts.

Strategic Goals Strategic Objectives

• Victoria is prosperous, innovative and entrepreneurial 1. Build on Victoria’s existing strengths in high technology
and tourism
• Victoria is a vibrant centre for government, business
and cultural activity Leverage Victoria’s status as the seat of
2. 
provincial government
3. Create a welcoming environment for new businesses
to locate and for existing businesses to grow
and expand
Promote Victoria as a capable and unique destination
4. 
for arts, culture, entertainment and sporting events
5. Enhance the vibrancy, economy and safety
of downtown Victoria
6. Grow tax base while staying competitive

City of Victoria | economic strategy Plan 2011–2012 15

16 economic strategy Plan 2011–2012 | City of Victoria
Victoria’s Strategic Focus Areas
To achieve this vision, the City is focussing its collective and strategic
efforts on 11 key initiatives. Each plays an important role in establishing
the foundation for Victoria’s economy to thrive.

1. BC’s Capital City: Maintain the City’s role as the 7. Green and healthy: Carve out a unique niche
headquarters of the Provincial Government. as a green and healthy community.
2. Hub of the Region: Maintain and enhance 8. Quality and compact development: Continue
Downtown Victoria’s role as the government, business, to develop high quality, denser, compact urban
entertainment, arts, cultural, and specialty retail hub neighbourhoods in the City.
of the region. 9. Transportation choices are regional: Work with
3. Strong tourism benefits the community:  regional partners to make high priority improvements
Strengthen the tourism sector in ways that also enhance to regional transportation infrastructure.
the community.
10. Proud history, very bright future: Portray the City
4. High tech is our future: Continue to grow the region’s as a vibrant urban centre that is proud of its history
technology sector and attract a share of firms into and that has an energetic, diverse vision for its future.
the City.
11. Go Local:  Strengthen the local and community
5. Anchor marine industry in Victoria: Maintain and dimensions of the City’s economic base.
expand the maritime sectors of the regional economy.
6. Create attractive business conditions: Provide
capacity for additional industrial and commercial
development in Victoria and ensure Victoria is an
attractive and competitive place for business and
urban development.

City of Victoria | economic strategy Plan 2011–2012 17

18 economic strategy Plan 2011–2012 | City of Victoria
Economic Areas in Detail
2. Hub of the Region: 
1. BC’s Capital City: 
Maintain and enhance Downtown Victoria’s role
Maintain the City’s status as the headquarters
as the government, business, entertainment, arts,
of the Provincial Government.
cultural, and specialty retail hub of the region.
Victoria’s role as the primary concentration of provincial
Undeniably, downtown is one of Victoria – and the
government employment cannot be underestimated.
Region’s – major assets. With its extraordinary inner
The City’s role as the Provincial headquarters accounts
harbour, fine stock of heritage buildings, fascinating
for a large share of direct employment and a large share
history, Provincial Legislature, major hotels including
of the downtown office occupancy, as well as being the
the iconic Empress, a wide array of restaurants and
reason many firms locate in the core. Any significant
specialty retailers, arts and culture facilities, events and
decentralization of Provincial agencies would be
festivals, the Royal BC Museum, and transportation
devastating for the City. Victoria must invest in an open,
gateways, it is the pinnacle of the Region.
responsive relationship with the Provincial government
to ensure the benefits of locating in Victoria are known. The City has made significant investments in the core,
Concerted focus on the City’s largest employer, its including an incentive program for heritage buildings
location and the institutional needs in the Legislative and a new downtown core area plan to clearly guide
precinct and Downtown are necessary. The presence land-use decisions in the downtown for the next
of government is fundamental to the City’s economic 30 years. Focussed effort is required to retain and
sustainability and should attract a reasonable share of support the region’s main urban centre.
Provincial investment. Short-term:
Short-term: • implement the Downtown Core Area Plan
• build and nurture strong constructive relationship with • create a comprehensive waterfront plan for the entire
the Provincial Government core area waterfront from Ogden Point to Rock Bay
Long-term: • foster a lively downtown arts and culture scene
• set priorities for capital investment in the region by the
• with the development industry, improve the public
Provincial Government realm by enhancing sidewalks, lighting, landscaping,
and street furniture improve safety and security
downtown
Long-term:
• explore the feasibility of creating a new downtown
educational presence for the major post-secondary
institutions
continued >

City of Victoria | economic strategy Plan 2011–2012 19

Economic Drivers in Detail, continued
3. Strong Tourism Benefits the Community:  4. High Tech is Our Future: 
Strengthen the tourism sector in ways that also Continue to grow the region’s technology sector
enhance the community. and attract a share of firms into the City.
Victoria is facing growing competition from other Technology is one of the main growth sectors in
destinations for tourism dollars and must renew its the world, and the nature of the jobs are well-paid,
destination marketing efforts to sustain its appeal. There intellectually stimulating, and green. Fortunately, Victoria
is value in finding ways to improve tourism that will also has the ingredients for some specialized tech niches:
enhance other sectors of the economy and improve the Victoria’s recreation opportunities and high quality of life
quality of life for residents. There is also value in finding are very attractive to technology professionals. Victoria
ways to increase Victoria’s appeal that are less capital- is recognized as one of the most attractive Canadian
intensive than development of major new attractions. cities for young professionals to reside.
Short-term: There are some small very specialized clusters
• encourage implementation of the Royal BC Museum’s drawn for specific reasons such as the natural
development plan and encourage and assist the marine environment, Institute of Ocean Sciences/
Royal BC Museum’s ability to mount high quality Pacific Geosciences Centre, UVic’s Vancouver Island
temporary exhibits Technology Park, and UVic’s Ocean Networks
• continue to host high quality events and festivals Canada program.
• continue to support the work of Tourism Victoria Home to three recognized post-secondary institutions,
in marketing Victoria as a destination Victoria produces skilled graduates and support
Long-term: research in the Capital Region. Victoria has the potential
• work with the tourism industry to agree on a priority to have international significance and significant job
plan for public and private investment in destination growth in niche areas including marine technology and
development ocean science, health and green technologies.
• enhance accessibility to and within Victoria for visitors There are already regional collaboration efforts by
• support growth in sports and recreation-based tourism post-secondary institutions, VIATeC, Vancouver Island
work with Tourism Victoria on ways to make the local Technology Park and the Greater Victoria Development
tourism sector more sustainable Agency to grow this sector. There is a strategic
opportunity for the City of Victoria to support efforts
to grow this sector in the entire region and attract firms
to locate in the core.
Short-term:
• continue to support the work of VIATeC, GVDA, UVic
to grow the tech sector regionally identify a location
for a tech precinct in the City
Long-term:
• explore potential for a tech showcase in downtown,
possibly in conjunction with a larger educational
presence and possibly including tech incubator space

20 economic strategy Plan 2011–2012 | City of Victoria

5. Anchor Marine Industry in Victoria: 
Maintain and expand the maritime sectors
of the regional economy.
Victoria has a longstanding history as a maritime city
and the region has a large number of jobs related to the
sea. Whether it be the naval base, coast guard, ship-
building and repair, ocean science, marine technology,
fishing, marine transportation, and recreational boating,
there continues to be a wide variety of opportunity in
marine-based sectors in Victoria.
More opportunity is imminent. If the west coast
shipyards are successful in capturing major contracts
under Canada’s National Shipbuilding Program – worth
over $35 billion over the next 30 years – some work will
occur in Victoria. There continue to be other shipbuilding
opportunities for small and medium vessels and possibly 6. Create Attractive Business Conditions: 
for BC Ferries and there are significant and ongoing Provide capacity for additional industrial and
opportunity in vessel repair and refit because of the commercial development in the City and make
large number of vessels on the west coast, the legal and sure the City is an attractive and competitive place
physical need for constant maintenance, and the cost- for business and urban development.
effectiveness of making repairs locally. To accommodate the potential for employment growth
Ocean science and marine technology offer tremendous in the City and expand the non-residential tax base, the
future potential and Victoria has a significant cluster City is creating the physical capacity to accommodate
of experts with international stature in this area, which employment uses in retail, office, and industrial buildings.
is a natural fit for this region. An obvious yet untapped The municipal government must position itself to offer
opportunity exists between the longstanding marine an attractive and competitive setting for business,
fabricators and the ocean science/marine technology in comparison to surrounding municipalities, in terms
cluster, as there could be interesting potential of taxation, development obligations, and approvals.
for collaboration as new technology is applied To have the capacity for employment growth, locations
to existing ships. and areas within the city must be identified that
With Victoria’s natural environment and tourism sector, are designated for commercial or industrial use at
there are increasing opportunities in marine-based appropriate densities and that are not allowed to be
recreation and tourism. developed for residential use, as high density residential
use can support higher land value and make it difficult
In an effort to attract more marine business to Victoria,
for employment-accommodating uses to obtain sites.
there is real benefit to raising awareness of the marine
sector’s contribution to the Provincial and Vancouver To offer an attractive setting for business, the City
Island economy. Victoria could benefit from highlighting must take measures to ensure Victoria is competitive
the profile of marine related economic potential. and attractive for developers and tenants, relative to
alternative locations in surrounding areas. Reducing
Short-term:
costs and barriers are seen as means of reducing shifts
• lend support to securing a west coast share
to the suburbs. It is important to recognize that in order
of major federal contracts to build new navy and
to provide the services to support development, the City
coast guard vessels
needs amenity contributions to meet the needs of new
• commit to retaining a working harbour and maintaining residents and workers and it needs tax revenue.
the supply of waterfront industrial land as long
as possible Short-term:
• ensure the City has a competitive and business-
Long-term:
supportive environment in terms of property taxes,
• encourage the creation of a regional association of
development costs, and development approvals
maritime sector employers of all types, including navy,
coast guard, shipbuilding and repair, ocean science, • implement the Downtown Core Area Plan’s vision for
marine technology, transportation, fishing, tourism, Rock Bay, including detailed plans for employment-
and recreation accommodating uses
• explore the possibility of property tax incentives for
specific types of development in specific locations.
Long-term:
• work on improving the community’s attitude toward
urban change and development
continued >

City of Victoria | economic strategy Plan 2011–2012 21

Economic Drivers in Detail, continued

7. Green and Healthy:  8. Quality and Compact Development: 

Carve out a unique niche as a green Continue to develop high quality, denser,
and healthy community. compact urban neighbourhoods in the City.
Victoria is recognized globally for its commitment to Building on record years for downtown development,
environmental sustainability and Victoria’s compact Victoria continues to be the urban heart of the region
scale, high quality natural environment, outdoor and it stands to gain much from gradual and appropriate
resources, sports and recreation assets, moderate densification to accommodate more residents and jobs.
climate, quality health care, and older demographic are Victoria has development plans for densification that will
all assets to positioning and marketing the community be effective partnered with timely development projects
on the connections between being green and healthy. and the provision of the necessary infrastructure and
There are many interesting ways to derive economic amenities required to support more people. Adding
potential from linking sustainability and health. quality housing will support local retail and service
businesses, help address housing affordability, and
The development community is a leader in green
provide core-area workers with an attractive alternative
building technology and can be a showcase for smart
to commuting in a Region where commuting to work
urban growth, green building design and materials,
is a growing issue.
green energy, and green infrastructure.
Short-term:
Victoria is an excellent location for designing,
• implement existing plans for densification
prototyping, and testing mobility aids that enable
wellness within older demographics and those with Long-term:
mobility challenges. And with the moderate climate • over time, identify new opportunities for high density
and compact area, Victoria is a natural location for neighbourhoods in appropriate locations in the City
leading innovation in pedestrian and bicycle pathways.
9. Transportation Choices are Regional: 
Victoria is generating a unique green and healthy image,
Work with regional partners to make high priority
attracting green technology and wellness technology
improvements to regional transportation infrastructure.
entrepreneurs and researchers, creating an appeal to
attract other like business to the Region. The regional context of transportation options within and
in and out of Victoria must be forefront when planning for
Short-term:
the future. The reliance on transportation infrastructure
• encourage regional economic development agencies
for business travel, goods movement, and visitor
and the regional health sector to explore ways to
arrival is critical to tourism gateways and managing
expand green tech, health tech, and new health care
high volumes of both people and goods and services
initiatives
from abroad. While the City includes important inner
• work toward greener buildings, greener infrastructure,
harbour gateways by air and sea, the transportation
green City business, conferences
infrastructure is in the surrounding area, including
Long-term: Victoria Airport and the Swartz Bay ferry terminal are
• continue to implement the Sustainability Framework equally as important to improve accessibility within the
and pursue opportunities that combine health and region, particularly into the Downtown core.
green technology
Short-term:
• aim for consensus among regional municipalities on
a plan for increasing the capacity at Victoria airport,
particularly increased runway length to accommodate
long-haul flights from Europe and Asia
Long-term:
• keep working on regional transportation plans and
improvements that improve accessibility to the
downtown core.

22 economic strategy Plan 2011–2012 | City of Victoria

10. Proud History, Very Bright Future:  11. Go local: 
Portray the City as a vibrant urban centre that Strengthen the local and community dimensions
is proud of its history and that has an energetic, of the City’s economic base.
diverse vision for its future. For reasons of sustainability, diversity, and economic
To draw new business, investment, and visitors to resiliency, the City can encourage community economic
Victoria, it is important an accurate picture of Victoria’s development that reduces reliance on external
assets and potential is presented to the world. Victoria investment, provides opportunities for residences, and
has untold chapters of story to demonstrate and retains more community wealth in the community.
although Victoria’s pride in character and history is the There is potential for job growth in:
foundation for leveraging attention, its quickly changing
• Local food production.
reputation as a cosmopolitan centre that is a wise place
to invest, work, and live, the vibrant centre that exists • Small-scale and artisanal manufacturing.
today holds untapped opportunity for the Region. • Arts and culture.
Short-term: • Local energy production.
• add a state-of-the-art economic development • Small business.
component to the City’s website
Short-term:
Long-term:
• support local food growing
• work with regional agencies involved in marketing/
promotion to make sure Victoria’s image is vibrant, • support local manufacturing
diverse, and not overly reliant on history and • adopt “buy local” preferences
old-world charm. • support small and home-based business
Long-term:
• continue to expand community economic
development and localization

City of Victoria | economic strategy Plan 2011–2012 23

24 economic strategy Plan 2011–2012 | City of Victoria
Measuring Progress
Monitoring the overall health of the economy and measuring against
specific actions is key to ensuring the economy is going in the right
direction. An economic report will be issued annually to report
on changes, progress on economic development initiatives.
And an intensive analysis of the economic development plan should
be completed every five years.

Short-term Actions: • ensure the City has a competitive and business-

• build and nurture strong constructive relationship with supportive environment in terms of property taxes,
the Provincial Government development costs, and development approvals
• implement the Downtown Core Area Plan • implement the Downtown Core Area Plan’s vision for
Rock Bay, including detailed plans for employment-
• create a comprehensive waterfront plan for the entire
accommodating uses
core area waterfront from Ogden Point to Rock Bay
• explore the possibility of property tax incentives for
• foster a lively downtown arts and culture scene
specific types of development in specific locations.
• with the development industry, improve the public realm
• encourage regional economic development agencies
by enhancing sidewalks, lighting, landscaping, and
and the regional health sector to explore ways to
street furniture improve safety and security downtown
expand green tech, health tech, and new health care
• encourage implementation of the Royal BC Museum’s
initiatives
development plan and encourage and assist the
• work toward greener buildings, greener infrastructure,
Royal BC Museum’s ability to mount high quality
green City business, conferences
temporary exhibits
• implement existing plans for densification
• continue to host high quality events and festivals
• aim for consensus among regional municipalities on
• continue to support the work of Tourism Victoria
a plan for increasing the capacity at Victoria airport,
in marketing Victoria as a destination
particularly increased runway length to accommodate
• continue to support the work of VIATeC, GVDA, UVic
long-haul flights from Europe and Asia
to grow the tech sector regionally identify a location
• add a state-of-the-art economic development
for a tech precinct in the City
component to the City’s website
• lend support to securing a west coast share
• support local food growing
of major federal contracts to build new navy and
coast guard vessels • support local manufacturing
• commit to retaining a working harbour and maintaining • adopt “buy local” preferences
the supply of waterfront industrial land as long • support small and home-based business
as possible
continued >

City of Victoria | economic strategy Plan 2011–2012 25

26 economic strategy Plan 2011–2012 | City of Victoria
Measuring Progress, continued

Long-term Actions: Overall Indicators of economic performance:

• set priorities for capital investment in the region by the • Total employment and share of regional employment,
Provincial Government by sector.
• explore the feasibility of creating a new downtown • Average income.
educational presence for the major post-secondary • Unemployment rate in Victoria and region.
institutions • Retail and office occupancy.
• work with the tourism industry to agree on a priority • Tourism indicators (ferry traffic, float plane traffic,
plan for public and private investment in destination occupied room nights, convention delegate days).
development
• Commercial and industrial assessment base.
• enhance accessibility to and within Victoria for visitors
• Commercial and industrial property tax cost (not just
• support growth in sports and recreation-based tourism rates) relative to other municipalities in the area.
work with Tourism Victoria on ways to make the local
• Pace of residential, commercial, and residential
tourism sector more sustainable
development.
• explore potential for a tech showcase in downtown,
possibly in conjunction with a larger educational
presence and possibly including tech incubator space
• encourage the creation of a regional association of
maritime sector employers of all types, including navy,
coast guard, shipbuilding and repair, ocean science,
marine technology, transportation, fishing, tourism, and
recreation
• work on improving the community’s attitude toward
urban change and development
• continue to implement the Sustainability Framework and
pursue opportunities that combine health and green
technology
• over time, identify new opportunities for high density
neighbourhoods in appropriate locations in the City
• keep working on regional transportation plans and
improvements that improve accessibility to the
downtown core.
• work with regional agencies involved in marketing/
promotion to make sure Victoria’s image is vibrant,
diverse, and not overly reliant on history and
old-world charm.
• continue to expand community economic development
and localization

City of Victoria | economic strategy Plan 2011–2012 27

28 economic strategy Plan 2011–2012 | City of Victoria
Poised for High Economic
Performance
Victoria is sharpening our focus on initiatives that grow our community’s
tax base and help businesses thrive. The health of Victoria’s economy
is fundamental to the success of all other initiatives within the city.
In order to invest and address areas of community need, we must
generate sustainable sources of funding.

We are investing in developing the economy; activities such as business

recruitment and retention, targeted investment in infrastructure,
development policy and incentives, strategic partnerships and marketing.

The City of Victoria places very high importance on creating a vision

for future economic growth that is economically, environmentally and
socially sustainable.

City of Victoria | economic strategy Plan 2011–2012 29

30 economic strategy Plan 2011–2012 | City of Victoria
A Collaborative Effort
The Economic Development Strategy was initiated by Victoria’s Mayor
and Council and directed by the City Manager, who built a team of City
staff, community leaders, and consultants to generate the strategy.
Many thanks to everyone who worked on this project and everyone who
will contribute to Victoria’s economy growing in the future.

Economic Advisory Panel City of Victoria

• Rob Bennett, Chair, A Steering Committee consisting of Directors from the
Greater Victoria Development Agency following City departments:
• Greg Brophy, General Manager, • Chair – Gail Stephens, City Manager
BC Public Sector – IBM Canada Ltd. • Project Lead – Director, Victoria Conference Centre –
• Deirdre Campbell, Chair, Tourism Victoria Jocelyn Jenkyns
• Bruce Carter, CEO, • General Manager, Corporate Services – Kevin Greig
Greater Victoria Chamber of Commerce • General Manager, Operations – Peter Sparanese
• Peter Ciceri, Past President, Custom House • Director of Finance – Brenda Warner
• David Fraser, Business Development Manager • Director of Planning and Development – Deb Day
Vancouver Island, Bank of Montreal
• Director of Communications – Katie Josephson
• Dan Gunn, CEO, VIATeC
• Scott Hoadley, Chair, Downtown Victoria
Business Association • Sasha Angus, Economic Development Officer –
Greater Victoria Development Agency
• Mohan Jawl, Director, Downtown Victoria 2020
Conference Society Consultants
• John Juricic, Owner, Elite Applications Group • Coriolis Consulting Corp.
• Dr. Valerie Kuehne, Vice President External Relations, • HB Lanarc
University of Victoria
• Pauline Rafferty, CEO, Royal British Columbia Museum
• Mr. Philip Steenkamp, Former Deputy Minister Ministry
of Regional Economic and Skills Development,
Province of BC

City of Victoria | economic strategy Plan 2011–2012 31

 1 Centennial Square
Victoria, BC V8W 1P6
www.victoria.ca

published october 2011