October 2014 B.C. Economic Fundamentals

Ally

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#21
Invasive moth that poses threat to B.C.'s ecology and economy found in Surrey





CLOVERDALE ` The Canadian Food Inspection Agency (CFIA) has found a foreign pest that `poses a threat to B.C.`s ecology and economy` in the Cloverdale area of Surrey. The province considers the European gypsy moth, also known as Lymantria dispar, to be a `threat to B.C.`s ecology and economy.`





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Ally

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#22
Municipal spending varies greatly; West Vancouver doubles Surrey per capita





There is a massive discrepancy in per capita spending among 17 Metro Vancouver municipalities, with West Vancouver`s $2,118 more than double Surrey`s low of $951 in 2012 and well above the regional average of $1,384, a Fraser Institute report shows.





The report is the institute`s third on municipal spending this year and is meant to fuel public debate in the lead-up to the Nov. 15 civic election.












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Ally

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#23
Tackle housing, affordability issues with new tax policy





VANCOUVER ` Debate about homelessness. Debate about housing affordability. Debate about increasing neighbourhood density. In Vancouver, discussion about the simple act of trying to put a roof over one`s head has become incendiary.





Now, a respected policy consultant is offering a few ideas he believes could help address the city`s housing anxiety.





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Ally

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#24
Rising development costs in and around Vancouver threaten economic growth





VANCOUVER ` Commercial real estate experts in the Lower Mainland are warning that the rising cost of erecting industrial buildings, coupled with a shortage of industrial land, is threatening to slow economic growth in the region and the province.





Between 2012 and 2014, the overall cost to buy and build on industrial land jumped by between 18 and 26 per cent across the region, according to a report released Tuesday by Colliers International.










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Ally

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#25
Some straight talk about Abbotsford from somebody who knows





Don Campbell is a respected real estate investment professional. He is the Founding Partner & Senior Analyst for the Real Estate Investment Network (REIN) and has a well-established and consistent record of getting it right when it comes to real estate values.





He`s also an Abbotsford resident with a great deal of familiarity with economic development, City Hall and the issues facing the city.





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Ally

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#26
Asia trade mission opens new markets, promotes trade with BC





VANCOUVER - Minister of International Trade Teresa Wat is departing on a 12-day trade mission to China, Korea and Japan on Nov. 4, leading a delegation of companies and organizations from some of B.C.`s key economic sectors: seafood, agrifoods and international education.





This is Wat`s second trip to Asia, after joining Premier Christy Clark on the fourth jobs and trade mission in November 2013. This trip builds on the success of last year`s mission by strengthening B.C.`s relationships with government partners and promoting the province`s competitive advantages in meetings with key investors in priority sectors.





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Ally

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#27
BG delay latest cloud over hoped-for LNG industry





British Columbia`s plans to develop an LNG industry took another hit Wednesday when a major proponent announced it was stalling plans to develop a plant near Prince Rupert.





British energy giant BG Group is `pausing` its decision process for a proposed 21-million-tonnes-a-year liquefied natural gas project as it takes stock of shifting market conditions.










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Ally

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#28
Chilliwack is tops for commercial developments in the Lower Mainland





VANCOUVER ` If you`re a developer mulling over a location in the Lower Mainland for a new commercial building, numbers published last week by the Commercial Real Estate Development Association (NAIOP) suggest that Chilliwack is one of the cheapest and most expedient locations to build when it comes to cutting through the red tape.





The Lower Mainland`s overall commercial vacancy rate has been climbing since 2012, and has reached 9.7 per cent, according to NAIOP`s 2014 commercial development `report card,` which predicted that trend will continue.










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Ally

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#29
BC monopoly's 'eggonomics' is cracked





Kudos to the B.C. Egg Marketing Board for labelling Wednesday's made-for-media event in down-town Vancouver - the unveiling of a life-size fire truck made from, of all odd things, egg cartons - as an exercise in "eggonomics."





I see this equally odd, made-up word as laudable truth in advertising - because the case they laid out certainly did not, in my view, deserve to be called economics.










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Ally

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#30
Fort St. John anticipates Site C real estate bump





Fort St. John`s sizzling real estate market will gain even more heat if the province approves BC Hydro`s proposed $7.9-billion Site C dam project in northeast B.C.





That was the consensus Tuesday among city real estate participants as the provincial cabinet works toward a final decision on the hydroelectric development that would be built about seven kilometres from Fort St. John.










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Ally

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#31
BC hydro tells communities Site C dam construction could begin in 90 days





VANCOUVER - British Columbia's government has yet to announce a final decision on the Site C hydroelectric dam but BC Hydro has informed officials in the Peace River Valley that construction could begin in 90 days.





The email from the project's senior environmental co-ordinator was sent out Friday to area municipal and aboriginal officials.





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Ally

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#32
Rising development costs in and around Vancouver threaten economic growth





VANCOUVER ` Commercial real estate experts in the Lower Mainland are warning that the rising cost of erecting industrial buildings, coupled with a shortage of industrial land, is threatening to slow economic growth in the region and the province.





Between 2012 and 2014, the overall cost to buy and build on industrial land jumped by between 18 and 26 per cent across the region, according to a report released Tuesday by Colliers International.












Read the full article here.
 

Ally

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#33
Vacancy levels high for Fort St. John employment





The city currently holds 207 staff positions, not including council members and fire fighters. There are also a total of 71 vacant positions available within City Hall.





However, Hasan says when filling a vacant position, one must first go through options in which it would not require external hiring, as it`s said to be one of the most expensive measures.





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Ally

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#34
City of Vancouver likes your home, so now it's worth $500,000 less





VANCOUVER ` Ian Todd was surprised to learn last month, entirely by chance, that a new city of Vancouver policy aimed at preserving west side character homes has reduced the value of his own property by at least $500,000.





The retired former executive secretary for the Pacific Salmon Commission says he was advised by builder Steve Dhami, architect Loy Leyland and Realtor Kathy Watkinson that his charming, well-kept Second Shaughnessy home, on a lot that is 66 feet wide, is worth $500,000 to $600,000 less than a few months ago.





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Ally

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#35
Vancouver home prices expected to rise, with higher demand on condos





LOWER MAINLAND (NEWS1130) ` Home sales in Metro Vancouver and the Abbotsford area are forecast to `ride the 2014 momentum into much of 2015,` according to the federal housing agency, before mortgage rates rise gradually beginning late next year.





Prices are expected to rise, with demand shifting to condos because of their affordability.





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Ally

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Mar 24, 2009
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#36
Property tax 'most harmful' to business in BC





B. C. municipalities got a well-deserved earful last week about their property tax habits, with renewed calls for less spending and a rebalancing of contributions between homeowners and businesses.





The B.C. Chamber of Commerce, Fraser Institute and the B.C. branch of the Canadian Federation of Independent Business, separately, used the occasion of Small Business Week to criticize cities, primarily in the Lower Mainland, for excessive and unfair taxation.










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