THINK VANCOUVER of all the places in the world to invest, of all the cities in which to do business, only one offers all these competitive ...
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of all the places in the world to invest, of
all the cities in which to do business, only
one offers all these competitive advantages.
THINK VANCOUVER
Creative, intelligent, highly skilled
people from all over the world. A
As a home to both new industries (like digital media) and
welcoming, cosmopolitan lifestyle. traditional ones (like resource extraction), Vancouver has
A wealth of activities at your doorstep. positioned itself in the vanguard of the global economy.
A thriving, entrepreneurial business And the global economy is at Vancouver’s doorstep.
environment. Closest to Asia of all major North American cities,
Vancouver is a fast-growing, increasingly important
This is Vancouver. gateway between North America and the booming
economies of Asia Pacific. Its multicultural character
One of the most dynamic and diverse economies in North makes it an ideal nexus for trans-Pacific business
America. A setting of majestic beauty. An enviable climate. services. The convergence of the world’s leadwing
Unsurpassed quality of life. No wonder Vancouver is a athletes, media outlets and corporations for the 2010
magnet for intelligent, talented people from around the Olympic and Paralympic Winter Games will heighten
world. Vancouver’s profile, amplify its business opportunities
and enhance its global business connections.
Creative, entrepreneurial citizens make Vancouver an
innovation incubator—a place where new ideas, products Choose Vancouver. We’ll help your business
and services are born. One of the greenest cities in grow naturally.
North America, it encourages sustainable thinking while
supporting business development. © Vancouver Economic Development Commission 2008
BUSINESS & INVESTMENT GUIDE » THINK VANCOUVER » BRAINS & BEAUTY JUNE 2008
brains & beauty
A smart city with a fast-
Photo: all canada photos/chris cheadle
growing workforce in a
majestic setting.
In survey after survey, Vancouver ranks as one of the
world’s most livable cities. Its bustling downtown
business core is minutes away from world-class ski
resorts, pristine beaches and spectral old-growth forests.
And its highly skilled, entrepreneurial and competitive
workforce makes it one of the best places to do business. large Canadian cities—the “creative class” that helps
In 2008 Vancouver was named one of the smartest make a city vibrant and leading-edge. Entrepreneurs
cities in the world by the Intelligent Community Forum. constitute the second-largest Meetup.com group in
FastCompany magazine recently named it a “Global Fast Vancouver (outpaced only by hikers). Small-business
City,” citing it as a leading competitor for global talent creation happens more quickly here. Cities, like
and a leader in environmental sustainability. companies, attract like-minded people, so the critical
mass of creative entrepreneurs expands steadily through
Vancouver is full self-selected in-migration.
of entrepreneurs - the Businesses benefit from a diverse workforce that’s
“creative class” that growing fast—more than 40,000 people immigrate to
British Columbia each year. Because Vancouver is an
makes a city vibrant Asia-Pacific business centre, workforce diversity is
particularly important. More than two-thirds of recent
immigrants came from Asia.
Businesses can bank on a workforce that’s not only happy
and healthy but “book smart” and “business savvy.” Ingenuity and creativity are hallmarks of the region.
More than a third of the population has undergraduate Mountain Equipment Co-op, the largest retail cooperative
degrees, and ten per cent have advanced degrees. in Canada with 1,100 employees, uses a unique business
Vancouver has the highest concentration of artists among model to offer high-quality outdoor goods, including
its own brand, to 2.6 million members. Lululemon, built
around yoga wear, is an international success. Dozens
of internet entrepreneurs are based here, including the
co-founder of Open Text Corporation, the founder of
NCompass Labs (acquired by Microsoft), and the young
man who started the photo-sharing website Flickr.
Photo: mark doherty
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » THINK VANCOUVER » INNOVATION INCUBATOR JUNE 2008
innovation
incubator
A strong tradition of public &
private sector innovation.
Vancouver grows ideas. Scientists, engineers, researchers
Photo: jason pfiefer
and designers create knowledge and concepts that mutate
across industry lines. Entrepreneurs transform discoveries
into valuable products and services. New approaches
spark high-tech industries and bolster the productivity
of traditional industries. Companies like Gemcom
(mining productivity software), Copperleaf (infrastructure
management software) and Wolf Medical Systems
space shuttles to Sierra Wireless’s modem to the
(healthcare productivity software) are international stories.
superconducting quantum computer being developed by
D Wave Systems Inc. Highly competitive local industries
Vancouver’s economy has been transformed in the last
with global reputations include clean technologies and
quarter-century. The historic dependence on port and
planning for sustainability, biotechnology, digital media
resource extraction activities has been replaced by a
and film and TV production.
strong service economy that caters to both local and
international needs. And the city exports expertise in
Vancouver’s innovation is built on strong institutional
engineering, sustainability, management, financial and
support. This includes public sector investments in top
technical services to companies and governments the
quality education and research, and effective public-private
world over.
partnerships. The governments of Canada and British
Columbia provide significant support to post-secondary
Manufacturing enterprises succeed by drawing on
education, technology training, research and innovation.
the intrinsic assets of the community to identify and
Canada has one of the highest rates of broadband and
exploit market niches. Vancouverites’ enjoyment of
overall internet access in the world, and British Columbia
the mountains and ocean has spurred development of
has the highest rate in Canada.
a performance and technical apparel industry that is
conquering world markets. Leading manufacturers come
Two outstanding universities in Vancouver, the University
to the region’s ski resorts not just for an exceptional
of British Columbia and Simon Fraser University—along
holiday, but to check out the latest gear. Exports of
with Western Canada’s leading polytechnic (British
food and related products are on the rise, thanks to
Columbia Institute of Technology) and numerous
the fertility of the Fraser Valley and the abundance
community colleges, technological institutes and
of salmon and other seafood in the Pacific Ocean.
government research centres—complement their
teaching and research expertise with excellent
university-business international linkages and a commitment to collaboration
collaboration has given with business. This milieu encourages spin-off
companies, startup incubation, technology licensing and
rise to any number of commercialization. Companies like Neuromed, Cardiome
Pharmaceutical, Nexterra Energy and Rainmaker Studios
start-ups and spin offs grew out of the region’s collaborative environment.
The rise of high technology-based industries has been
marked by the emergence of globally competitive
companies, making the region home to many unique,
technology-based products, from the arm used on
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » THINK VANCOUVER » GREEN GROWTH JUNE 2008
green growth
Addressing climate
change while improving the
business climate.
Photo: busby perkins + will
Vancouverites’ visceral connection to the outdoors provides
a unique competitive advantage in a world struggling
to deal with environmental issues. It’s no coincidence
that several globally prominent environmental groups
(including the David Suzuki Foundation) are based in
Vancouver, that UN Habitat was conceived at a Vancouver
conference, or that in 2008 British Columbia introduced
North America’s first revenue-neutral carbon tax, which
addressed climate change while providing equivalent In the world of architecture and urban planning,
tax reductions to reduce the impact on businesses and “Vancouverism” has become shorthand for
consumers. “sustainable urban development.”
Vancouver is “walking the walk” at a time when other These green initiatives are being achieved without
North American cities are still “talking the talk.” sacrificing the conditions that make the region an
Concern for the environment is being transformed by the increasingly attractive environment for investment.
region’s entrepreneurs into green solutions in demand Government debt-to-GDP levels have been significantly
the world over. Companies like Ballard Power Systems cut in recent years, and individual and corporate tax
(fuel cell technology) and Westport Innovations (clean- rates have been steadily reduced. An ongoing program
burning alternative fuels) are pioneers in sustainable to lessen government regulation has yielded a 40 per
transportation. Architects and designers like Holland Barr, cent reduction in regulatory burdens since 2001.
Bing Thom, Peter Busby and Hotson Bakker are creating
eco-friendly buildings and communities on five continents.
Urban planners like Larry Beasley are replicating the
with federal,
“Vancouver model” in cities as far from British Columbia
as Houston, Dubai, Sao Paolo and Abu Dhabi.
provincial, regional
and city support,
green initiatives are
proliferating while
regulatory burdens are
being eased
Photo: wesley regan.com
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » THINK VANCOUVER » GLOBAL GATEWAY JUNE 2008
global gateway
The global economy at your
doorstep.
Transportation has always been central to Vancouver’s
psyche. British Columbia agreed to join Canada only in
exchange for a rail link to the centre of the continent.
The city developed around the very spot where the first
transcontinental rail line met the Pacific coast. And its
Photo: nk west
name memorializes the first British sea captain to reach
the area.
Blessed with one of the world’s best natural deep-water
harbours, the shortest distances to Asia of any major
North American city, and close proximity to the U.S., Vancouver’s award-winning airport (ranked fourth in
Vancouver was destined from its founding in 1886 to the world in the 2007) is less than half an hour from
become a key international transportation hub. As global downtown. Infrastructure investment is dramatically
economic growth centres increasingly on the Pacific expanding capacity and includes a direct rapid-transit
Rim, the city’s transportation assets become ever more link to downtown. Cargo handling is expected to double
valuable. And in an age of instant global communication, by 2020. YVR airport has become a multi-modal hub and
Vancouver is fortunate to be in a time zone that allows distribution centre, with companies like UPS and Fedex
access to all three centres of world commerce (London, opening major, innovative facilities.
New York, Hong Kong) in a single working day.
Global logistics planning and efficient delivery strategies
As trans-Pacific traffic grows, Vancouver is investing are spurring development of a strong warehousing and
heavily to maximize the economic opportunities. The distribution industry in Vancouver– a critical evolution
governments of Canada and British Columbia—together as demand for “just in time” shipping grows. With the
with Vancouver Fraser Port Authority, Vancouver’s streamlining of customs procedures at the nearby U.S.
international airport (YVR), the regional transit authority, border, the industry is expected to enjoy long-term growth.
the three Class 1 inter-continental railways that serve
the port, and other private interests—are ambitiously Vancouver was a global city before the term was invented.
upgrading the capacity and efficiency of Vancouver’s global Global inter-connectivity has only reinforced its diverse,
gateway. Transportation investment commitments in the multicultural nature. Combining indigenous cultures,
region to date total over $20 billion. longstanding ties to Europe, and historic ties to Asia,
Vancouver embodies multiculturalism not as a slogan
but as part of everyday life. One of the world’s leading
Transportation tourist and culinary destinations, the city is renowned for
world-class cooking that fuses cultural ingredients and
investment commitments influences with local sourcing and sustainable practices.
in the region to date Cultural ties and family connections to other countries,
total over $20 billion combined with business-friendly immigration policies,
make Vancouver fertile ground for professionals,
international entrepreneurs and companies that provide
services across cultures and national boundaries. More
The Vancouver Fraser Port Authority was created in 2008
than 70 countries maintain a consular presence in
to bring together the three port authorities and increase
Vancouver, providing institutional support for the many
regional efficiency. Already North America’s leading port in
foreign-based firms that do business here and signaling
export tonnage, Vancouver expects to triple container flow
Vancouver’s stature as a port and an international
by 2020, while minimizing environmental impact.
business centre.
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » THINK VANCOUVER » OUTSTANDING OPPORTUNITY JUNE 2008
outstanding
opportunity
2010: A celebration of the
region’s role in the global
Photo: city of vancouver
economy.
In early 2010, athletes, media, sponsors and spectators
from around the world will gather in Vancouver, and at
the nearby alpine resort of Whistler, for the Vancouver
2010 Olympic and Paralympic Winter Games. This event
will take the Vancouver brand to more than 3 billion
people around the world: as a world-class tourist and
recreational destination, to be sure, but also as a place 2010 Winter Games by the
where innovative and resourceful residents, themselves numbersers
from all over the world, collaborate to stage and host a
global event. 17: days of Olympic Games events
(February 12 to 28, 2010)
The 2010 Games will showcase Vancouver as a place
where leading international businesses work together
to introduce new technologies in areas such as 10: days of Paralympic Games events
infrastructure, health, sustainability, information and (March 12 – 21, 2010)
communications. As a place where natural beauty and
cosmopolitan living co-exist in a sustainable balance. As a 5,500: projected number of Olympic Games athletes
place where the planet’s climate and the business climate and officials
are both respected. In short, as an emerging 21st century
global business centre. 1,350: projected number of Paralympic Games
athletes & officials
The economic activity generated by the 2010 Winter Games
means that now is the ideal time to establish or expand
a business presence in Vancouver - the 2010 Commerce
80+: countries participating in Olympic Winter Games
Centre in downtown Vancouver is already busy generating
deals. The economic impact of the Games, and of the 40+: countries participating in Paralympic Winter
infrastructure investments they have triggered, will last Games
well beyond the lowering of the Olympic Flag. The Expo
86 world’s fair brought Vancouver global recognition and 10,000: number of media representatives covering
a sustained economic boom. The 2010 Games will have a the Games on site
similar effect, but on an exponential scale.
250,000+: projected number of visitors to the
The Games will have other positive long-term effects as region
well. They will be the most sustainable Games ever. A
variety of social, arts, amateur sports and other legacies
are already well advanced. British Columbia has fashioned
3 billion+: number of worldwide television
viewers of the Games
ground-breaking agreements on economic collaboration
with other members in the elite fraternity of host cities,
including Beijing and London. And Vancouver-area Every effort has been made to ensure that the information in this document is
accurate and current to May 1, 2008, however, neither the City of Vancouver nor
businesses are already advising the host city of the 2014 the Vancouver Economic Development Commission accepts any liability for actions
Winter Olympics—Sochi, Russia—on how to maximize its taken based on this material.
opportunity.
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » VEDC: YOUR BUSINESS LINK JUNE 2008
VEDC: YOUR
BUSINESS LINK
The Vancouver Economic
Development Commission
photo: WESLEYREGAN.COM
(VEDC) connects local and
international businesses in
the city of Vancouver.
VEDC works to strengthen the economy of the city of VANCOUVER ECONOMIC
Vancouver by helping existing businesses, attracting new DEVELOPMENT COMMISSION
businesses, researching business issues and making Suite 1620, 1075 West Georgia Street
policy recommendations. Vancouver, BC Canada V6E 3C9
Tel: 1-866-632-9668
It works closely with elected officials, the consular corps, www.vancouvereconomic.com
and relevant departments of all levels of government. It
links directly with peer organizations in the region, broad-
VEDC’s economic development activities are based on
based and sector-specific industry associations and ethnic
guiding principles approved by the City of Vancouver. (see
business groups. It also engages regularly with post-
www.vancouvereconomic.com/page/guiding-principles)
secondary and technology institutions, legal, real estate
and business services professionals, and others whose
Services to help local businesses and entrepreneurs
work affects economic development of the region.
include:
VEDC is the City of Starting a business in Vancouver
VEDC can guide you to the resources necessary to
Vancouver’s economic successfully start or relocate a business in the city of
development agency, led Vancouver, including:
• Profiles of Vancouver and its business districts
by a volunteer board of • Analysis of Vancouver’s economy and business climate
senior business leaders • Start-up, expansion and relocation services
• Business licences, permits and City regulations
The purpose of these activities is to bring the best Growing your business in Vancouver
possible information to companies and entrepreneurs VEDC provides access to the people, tools and services to
interested in business development in the city. Services are make your business efficient, sustainable and profitable,
comprehensive, confidential and free to clients. including:
• Working with City Hall
VEDC also serves as the voice of business to Vancouver’s
City Hall, making recommendations to the City on ways • Business development and marketing
to improve the business climate and make Vancouver • Sponsorship and event opportunities
more attractive to business from around the globe. In • Industry advocacy and support
late 2007, VEDC delivered a report to City Council on the
city’s business climate, based on input from the business Working with business districts
community.
Vancouver is a city of business districts, each with its
Helping your business grow...naturally. own character, key industries and local customers.
The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
BUSINESS & INVESTMENT GUIDE » VEDC: YOUR BUSINESS LINK JUNE 2008
Many districts have business improvement areas (BIAs)
that promote the district through events, street-scape
improvements and other programs.
VEDC works with BIAs on a variety of programs, including
profiles for each BIA and its surrounding community.
photo: TOURISM VANCOUVER/ROBERT KENT
VEDC SERVES AS THE
VOICE OF BUSINESS TO
VANCOUVER’S CITY HALL
Helping businesses locate in Vancouver
VEDC markets the city of Vancouver’s strategic location,
entrepreneurial spirit, competitive advantages, pro-
business climate and outstanding lifestyle across Canada
and around the world. VEDC connects international REGIONAL COLLABORATION
businesses to Vancouver, helping them set up, succeed VEDC collaborates with other municipalities in the region
and grow. through Metro Vancouver Commerce, a vehicle to promote
economic development region-wide.
Economic development promotion
VEDC works to establish the city of Vancouver as the VEDC’s partners in Metro Vancouver Commerce are:
worldwide location of choice for targeted industries
through: CITY OF RICHMOND
• Marketing and outreach www.richmond.ca
• Collaboration with industry associations to promote CITY OF SURREY
business opportunities in Vancouver www.surrey.ca
• Sponsorship and participation in industry events and
CITY OF NEW WESTMINSTER
activities
www.city.new-westminster.bc.ca
DISTRICT OF NORTH VANCOUVER
Business Attraction
www.district.north-van.bc.ca
VEDC provides individual companies and entrepreneurs
with investment and business support through: CITY OF NORTH VANCOUVER
• Supplying customized data and intelligence on business www.cnv.org
and economic conditions, as well as information on the
community, its lifestyle and amenities For more information about the activities of VEDC and
Metro Vancouver Commerce, or to access our services call
• Conducting familiarization tours 1-800-632-9688 or email us at:
• Providing assistance in addressing site selection, info@vancouvereconomic.com.
business registration, immigration, taxation and
regulatory issues
• Providing connection and introduction to key Vancouver
business resources: local companies, industry
associations, relevant government agencies and other
facilitators
Every effort has been made to ensure that the information in this document is
accurate and current to May 1, 2008, however, neither the City of Vancouver nor
Incoming business delegations the Vancouver Economic Development Commission accepts any liability for actions
VEDC supports delegations through: taken based on this material.
• Presentations on local business opportunities
• Arranging information meetings, company introductions
and project tours
• Providing matchmaking services
The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.
VANCOUVER HAS A DYNAMIC, HIGHLY DIVERSIFIED URBAN ECONOMY WITH GROWING KNOWLEDGE-BASED SECTORS AND STRONG GLOBAL LINKAGES. Economic profile
BUSINESS & INVESTMENT GUIDE » ECONOMIC PROFILE JUNE 2008
*the Economist
Intelligence Unit
ranked Vancouver
the world’s most
livable city in 2006
Physical Characteristics
Greater Vancouver, with a population
of 2.1 million, is Canada’s third largest
urban area. Located in British Columbia,
Canada’s westernmost province, the region
photo: ©istockphoto / volodymyr kyrylyuk
covers nearly 2,900 square kilometres,
bordered by the Pacific Ocean to the west, geneva
9.
7. 5. 3.
Sidney TORONTO VIENNA
the US border to the south, the valley 8.
of the Fraser River to the east and the COPENHAGEN
Coastal Mountains to the north. Seattle,
2.
Washington is 226 km to the south, while 10. 6. 4. MELBOURNE 1.
Calgary, Alberta is 975 km to the east. ADELAIDE
PERTH
VANCOUVER
zurich
Vancouver’s oceanside location gives it a WORLD’S MOST LIVABLE CITY*
mild climate year round.
The Economist Intelligence Unit ranked
Vancouver as the world’s most livable city
in 2006. The Mercer Group’s 2007 Quality
Business Climate
of Living Survey ranked Vancouver third of 215 cities
worldwide, and first in North America. Canada
Canada is enjoying strong economic performance and a
Government
highly favourable business climate. Canada’s 2008 Budget
Canada is a federal state; the governments of Canada
noted:
and British Columbia both play a role in establishing
Vancouver’s business climate.
• Canada’s labour market is strong, with unemployment
near a 33 year low and the share of Canadians
The Vancouver region, comprising the City of Vancouver
currently employed at a record high.
and 20 other municipalities, accounts for close to half
of British Columbia’s population and economic output. A • Household net worth is growing strongly and corporate
region-wide authority, Metro Vancouver, has responsibility profits are near a record high.
for water supply, sewage treatment, garbage disposal
• The fiscal position of the consolidated government
and recycling, and other activities. Economic development
sector is excellent; the most recent OECD estimates
activities in the region are coordinated by an alliance of
suggest Canada will have the best fiscal position of all
municipal economic development agencies known as
G7 nations in 2008.
Metro Vancouver Commerce.
• Canada’s real income per capita has grown over 20 per
The City of Vancouver is the largest municipality in the cent since 2001.
region in terms of population and economic activity. The
• The federal corporate tax rate has been reduced
city’s economic development agency, the Vancouver
from 37.8 per cent in 1980 to 15 per cent by 2012.
Economic Development Commission (VEDC), is a founding
Canada will have the lowest tax rate on new business
member of Metro Vancouver Commerce, and participates
investment in the G7 by 2011, and will have the lowest
in all Metro Vancouver Commerce activities. The city’s
statutory tax rate in the G7 by 2012.
downtown includes more than half of all commercial office
space in the region and serves as the international front • The federal debt-to-GDP burden will fall to 25 per cent
door to British Columbia. by 2011/12, the lowest since the 1970s.
The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » ECONOMIC PROFILE JUNE 2008
The 2008 KPMG Competitive Alternatives study found
Canada has the lowest business costs in the G7. It leads
the G7 in manufacturing, software and R&D costs.
photo: sea-to-sky highway improvement project
KPMG ranked Canada first in the G7 for high school
science scores, and second in educational attainment
and expenditure. Canada ranked first in the G7 for
environmental laws and second for environmental
performance. Canada leads the G7 in energy self-
sufficiency.
the b.c. government is a
north american leader
in the use of public-
private partnerships Top marginal personal income tax rates remain below
those in jurisdictions such as California and Ontario.
British Columbia
Other recent tax reductions include the elimination of the
British Columbia’s economy is currently outperforming
corporate capital tax – on large financial institutions by
that of Canada, and its business climate is among the
2010.
most favourable of all Canadian provinces.
The B.C. government has a strong record of sound fiscal
As noted in its 2008 Budget, the Government of British management. A balanced budget is required by law and
Columbia has taken major steps to create a stable and the Province will end the 2007/8 fiscal year with its fourth
competitive tax environment in the province. consecutive budgetary surplus. Its ratio of tax supported
debt to GDP has fallen from 21.3 per cent in 2002/3 to
The general corporate income tax rate has been reduced an estimated 14.1 per cent in 2007/8 and is expected
from 16.5 per cent in 2000 to 10 per cent in 2011. Together to remain below 14 per cent in future years. The B.C.
with federal tax reductions, this will result in a combined government enjoys the highest ratings on its debt from
federal and provincial tax rate of 25 per cent by 2012 both Moody’s and Standard & Poor’s.
– well below the average US rate of 35 per cent. The small
business tax rate has been reduced to 3.5 per cent with The B.C. government is a North American leader in
planned further reductions to 2.5 per cent by 2011. the use of public-private partnerships (PPPs) to deliver
public-use infrastructure. PPP transfer project risk from
city region government to the private sector through fixed price
Area (sq. km): 115 2877
agreements, guaranteed delivery dates and performance
Population (2006): 578,041 2,116,581 guarantees. About $4.7 billion in PPP projects are
Population per sq. km: 5,039 736 completed or under construction, while an additional $2.7
Private dwellings (2006): 273,804 870,992 billion in projects is at the competitive selection stage.
Dwellings per sq. km: 2381 303 More than 20 PPP projects have been, or are scheduled to
Source: Statistics Canada 2006 Census
be, delivered on time and on budget.
British Columbia has an on-going program aimed at
The threshold for the small business tax rate has been modernizing the regulatory system to promote innovation
increased to $400,000. Business tax burdens in British and economic opportunity, while protecting the public
Columbia are among the lowest anywhere in North interest. Since the program began in 2001, regulatory
America. burdens have been reduced by over 40 per cent.
A number of major personal income tax reductions have British Columbia has been long recognized as a North
also been enacted, cutting income tax rates by a third, with American leader in advancing environmental sustainability.
the result that British Columbia has the lowest income tax The B.C. government recognizes that an attractive
rates in Canada for incomes up to $111,000. business climate addresses long-term sustainability
The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » ECONOMIC PROFILE JUNE 2008
Slightly over half of all property taxes raised goes to fund
the City; the remainder funds regional transportation,
school and other activities.
Net City debt outstanding at the end of 2006 amounted
to approximately $730 per capita. Except for local
improvements, all City debt has a 10 year term. The City
photo: ©istockphoto/chris schmidt
enjoys a triple A credit rating. Tax arrears have declined
from $35 million in 2002 to $22 million in 2006 (2.21 per
cent of taxes levied).
The City has a strong commitment to economic
development, outlined in Guiding Principles adopted
in 2006. The City and Metro Vancouver have their own
substantial environmental sustainability programs, which
complement those of the B.C. government.
issues, such as climate change, as well as short term
returns on investment. Its 2008 Budget introduced one of
Business tax burdens
the most progressive climate action plans in the world,
aimed at reducing GHG emissions to 33 per cent below
in british columbia
2007 levels by 2020. A key element of the plan is a revenue are among the lowest
neutral carbon tax, set at $10 per tonne of emissions in
2008, rising to $30 per tonne by 2012. Taxes raised on anywhere in north
carbon will be offset by tax reductions, so the net impact
on business and individual taxpayers will be zero.
america
The carbon tax is part of a much broader set of climate
change initiatives, including incentives and tax reductions Demographics
for energy efficiency upgrades; increased funding for The regional population has been growing about 1.3 per
research and energy-related technologies; a “cap and cent annually in recent years; increases are expected
trade” system for large emitters; major transit system to continue over the next decade, with the population
expansions; and new demand power management reaching 3 million by 2030. While some suburban
systems. municipalities are growing more rapidly, the city of
Vancouver continues to see healthy population growth.
City of Vancouver
With the natural rate of population growth steadily
The City of Vancouver operates under the Vancouver declining, population growth is driven primarily by
Charter, a statute of the B.C. government. Subject to the immigration. Canadian and B.C. government policies
terms of the Charter, the City raises its own revenues, and encourage immigration of people with business and
issues its own debt. employment-related skills. Immigrants account for 40 per
cent of the region’s population.
The City’s 2006 Annual Financial
Report notes total revenues of FEFKB7J?ED=HEMJ> C;JHEL7D9EKL;HFEFKB7J?ED
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The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » ECONOMIC PROFILE JUNE 2008
array of languages and cultural backgrounds. More than
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Vancouver with a talented and diverse labour pool, with now highly diversified thanks to strengths in many new
strong international connections. areas including significant clusters in knowledge-based
sectors.
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Among export-oriented sectors: Paralympic Winter Games, high rates of immigration,
high levels of investment and construction, a diverse and
• The relatively small and diversified manufacturing
skilled workforce and a growing advanced technology
sector employs 98,000 people, or 8.5 per cent of the
sector all contribute to the positive outlook.
workforce. Although this is a smaller share than many
other large cities, manufacturing is an important The strong economy is translating into rising incomes.
part of the economic landscape. Many of the jobs are After allowing for inflation, British Columbians have
in management and administration rather than in enjoyed strong growth in average disposable incomes.
production. In addition, B.C.’s comparative performance has been
• The strong tourism sector is reflected in 8 per cent of impressive with average incomes growing more quickly
all jobs being in accommodation and food services – a than the Canadian benchmark and exceeding gains seen
higher proportion than in other Canadian cities. in most other provinces.
• The professional, scientific and technical services According to the 2006 Census, employment in Greater
sector employs 76,000 people, reflecting the region’s Vancouver reached 1.1 million in 2006, a gain of 11 per
strong orientation to export of knowledge, particularly cent from 2001. This is stronger than the gain recorded
related to resource industries, engineering and over the previous 5-year period and is the fastest pace of
sustainability. job growth among Canada’s three largest metropolitan
• The arts, entertainment and recreation industry, areas.
as well as the film/TV/sound industry are far more
Vancouver’s unemployment rate is currently at record
prominent than in other Canadian cities.
lows. At just 4 per cent it is slightly below the province-
• The financial services sector is a larger part of the wide rate and well below the national unemployment rate.
economy than in all other Canadian cities except
Toronto. Cost Comparisons
KPMG Consulting recently released its 2008 analysis of
Vancouver’s global gateway role is evident in the business costs in 10 countries (Australia, Canada, France,
comparatively high proportion (5.7 per cent) of people Germany, Italy, Japan, Mexico, the Netherlands, United
working in the transportation industry. Kingdom, United States), and for 136 cities in those
countries (see www.competitivealternatives.com) the
Vancouver and British major findings were:
• Canada, the U.S. and Australia have the most
Columbia are enjoying favourable costs among established industrialized
one of the strongest countries, with less than 1 per cent difference among
these countries.
economic expansions on • Since 2006, Canada has gained ground relative to
record European countries.
• Software industry costs are 3.5 per cent lower in
Canada than in the U.S., while R&D costs are 3.7 per
Economic Performance cent lower.
Vancouver and British Columbia are enjoying one of
the strongest economic expansions on record. Over the • Effective income tax rates for a wide range of
past five years, the provincial economy has consistently operations are lowest in the Netherlands, Canada and
outpaced the Canadian economy. the U.K.
• Canada has the highest rate of adult participation in
Looking ahead, the province, propelled in large part by
the workforce.
strength in the Greater Vancouver region, is positioned to
continue to outperform the national benchmark. There Compared to other major Western cities in North America,
is widespread agreement among economists and other Vancouver offers a lower cost of doing business. Business
forecasters that British Columbia will remain at or near costs in Vancouver are lower than in major cities like
the top of the provincial growth rankings in the coming Seattle, San Diego, San Jose and Las Vegas.
years. Among other factors, a competitive business
and tax climate, Asia Pacific and the growing gateway
Every effort has been made to ensure that the information in this document is accurate and
role, the hosting of the Vancouver 2010 Olympic and current to May 1, 2008, however, neither the City of Vancouver nor the Vancouver Economic
Development Commission accepts any liability for actions taken based on this material.
The complete VEDC Business & Investment Guide is available in PDF format on our website at
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.the eleven industries profiled in the following pages are examples of vancouver’s many internationally competitive sectors. sector profiles
BUSINESS & INVESTMENT GUIDE » KEY SECTORS » DIGITAL MEDIA JUNE 2008
DIGITAL MEDIA
Vancouver has the perfect
ecosystem for a thriving digital
photo: ©2008 Jupiterimages corporation
media industry: outstanding
research and educational assets
in science, technology and
design, and a strong base of
artistic and creative employees.
Industry Snapshot
British Columbia has more than 600 digital media
companies, which employ about 16,000 people and perfect environment for digital media - a collaborative
generate $2.3 billion in annual sales. Greater Vancouver confluence of science, technology and art. Thirty per
accounts for more than 60 per cent of the digital media cent of the city’s digital media companies are located
companies in the province. in Vancouver’s business core, resulting in a high rate of
strategic relationships and lucrative partnerships. Most
Digital media companies currently operate in five areas: of the province’s digital media companies are actively
interactive design; digital entertainment and games; involved in collaborative ventures and partnerships with
digital film, animation and special effects; mobile content U.S. and other foreign publishers.
and applications including games; and
E-learning. By 2010, products developed by Vancouver’s
digital sectors will impact many sectors – for example, British Columbia has
health care, education and military activities – as
practical applications and training tools, and as next more than 600 digital
generation technology innovations. media companies, which
• Vancouver has one of the top video game clusters generate $2.3 billion in
in the world, with presence from major publishers
including EA (Electronic Arts), Nintendo, THQ, Vivendi/ annual sales
Activision, Disney and Microsoft.
All of Vancouver’s major post-secondary institutions are
• Electronic Arts’ studio in Vancouver is the largest of its engaged in digital media, providing outstanding facilities,
kind in the world. training and research services to the private sector. Four
institutions recently established together a new location
• Digital Media has a strong symbiotic relationship with for digital media studies, the Great Northern Way Campus.
the established film and TV sector, making Vancouver a The campus offers a Master’s degree that will prepare
creative force in North America. digital media professionals with advanced skills and
critical management training.
Competitive Advantages
Vancouver is packed with creative and original minds, and Vancouver is geographically positioned to leverage
digital media companies cite access to a vast talent pool relationships with L.A.’s entertainment hub, software
as a top reason for doing business in Vancouver. centres in Seattle and Redmond, Washington, and strong
A tolerant and welcoming attitude towards other cultures, markets for services in Asia.
ethnicities and lifestyles draws talented individuals and
globally-oriented companies to Vancouver from all over Incentives
the world. The Government of British Columbia’s New Media Tax
Credit is a 30 per cent non-refundable income tax credit
Vancouver’s downtown, renowned for a unique blend of for venture capital corporations investing in eligible digital
residential, commercial, arts and cultural space, is the media businesses.
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » KEY SECTORS » DIGITAL MEDIA JUNE 2008
Early-stage ventures are also eligible for support from the >SIGGRAPH International, Vancouver Chapter
B.C. government’s $90 million B.C. Renaissance Capital www.siggraph.ca
Vancouver Chapter of the Special Interest Group for Computer Graphics
Fund. of the Association for Computing Machinery (ACM). SIGGRAPH’s 2011
conference will be held in Vancouver, its first conference outside the
The B.C. government also offers a 25 per cent refundable U.S. Over 24,000 attendees from around the world are expected.
tax credit for Canadian or international film and television
>Simon Fraser University School for Interactive Arts and Technology
production companies that incur eligible labour costs in www.siat.sfu.ca
B.C. Labour costs for digital animation and visual effects School offering undergraduate and graduate degrees in digital media; it
receive a 15 per cent credit. Recipient corporations do also conducts interdisciplinary research that draws on science, art and
design.
not have to be Canadian-owned, or have an interest in the
copyright. Enhanced credits are available for B.C.-owned >Telefilm Canada
and controlled companies. www.telefilm.gc.ca
Canadian government cultural agency with a Vancouver office that
provides the film, TV and digital media industries with financial, strategic
Resource Organizations and distribution support for products that reflect Canadian society.
>B.C. Film >University of British Columbia
www.bcfilm.bc.ca Media Graphics and Interdisciplinary Centre
Non-profit that administers B.C. film credits and provides support for the www.magic.ubc.ca
development and marketing of film, TV and digital media products from Research laboratory that conducts research on the interaction of people
B.C. with digital media.
>B.C. Innovation Council >Vancouver Film School
www.bcic.ca www.vfs.com
Crown Agency that fosters innovation and commercialization, in Private school offering one-year vocational programs in animation, digital
partnership with government, industry and academia. design, game design, sound design and writing.
>B.C. Ministry of Economic Development >Vancouver Institute of Media Arts (VanArts)
www.investbc.ca www.vanarts.com
www.equitycapital.gov.bc.ca Institute offering industry-based diploma and certificate programs in
Provincial government department that promotes commerce and investment animation, gaming and visual effects.
in B.C. and administers B.C.’s venture capital programs.
>VIDFEST
>B.C. Technology Industry Association (BCTIA) www.vidfest.com
www.bctia.org Vancouver’s international digital media festival and Canada’s largest
Non-profit organization that supports the growth of B.C.’s technology digital media event.
industry through a variety of programs and initiatives.
>Centre for Digital Media at Great Northern Way Campus Every effort has been made to ensure that the information in this document is accurate and
www.gnwc.ca/mdm current to May 1, 2008, however, neither the City of Vancouver nor the Vancouver Economic
Partnership between four institutions: British Columbia Institute Development Commission accepts any liability for actions taken based on this material.
of Technology, Emily Carr Institute of Art + Design, Simon Fraser
University and the University of British Columbia. The Centre offers an
innovative, professional Masters of Digital Media degree recognized and
accredited by each of the participating institutions.
>International Game Developers Association – Vancouver
www.igda.org/vancouver
Local association of video game developers, affiliated with the
international video game industry association.
>Intersections Digital Studios Emily Carr Institute of Art + Design
www.eciad.ca/research/ids
New $5 million research facility and studio where students and
professionals collaborate on interdisciplinary projects.
>Mobile Muse
www.mobilemuse.ca
Local network of small and large companies, industry associations,
community organizations and academic institutions engaged in the
development of mobile media.
>New Media BC
www.newmediabc.com
Vancouver-based digital media industry association.
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » KEY SECTORS » EDUCATION JUNE 2008
education
Vancouver’s high-quality
educational institutions, cultural
diversity and enviable lifestyle
photo: VANCOUVER FILM SCHOOL
have earned it an outstanding
reputation in international
education, at the post-secondary
and K-12 levels, as well as in
English language studies.
Industry Snapshot
Vancouver and British Columbia are recognized nationally Education in Vancouver is truly international. More than
and internationally for excellence in education, attracting 40 per cent of the population has a mother tongue other
about 150,000 international students annually, the than English or French, and public school students speak
majority of them studying in the Vancouver region. 57 unique languages.
• Canada ranks first in G7 countries in high school Competitive Advantages
science scores, and second in educational attainment About one-third of all international students in Canada
and expenditures. choose to study in B.C. International students come
to Vancouver and B.C. for a superior education that is
• The University of British Columbia (UBC) is regularly affordable relative to competing jurisdictions. In addition,
ranked among the top 50 universities worldwide in the region’s quality of life is well known internationally,
various international publications – in 2007 UBC placed as is the city’s idyllic setting. The living environment
33rd in the Times Higher Education rankings and 36th is safe and inclusive, with quality health care, social
in rankings by Shanghai’s Jiao Tong University. services and public education.
• Maclean’s magazine’s latest ranking of Canadian Relative to the U.S., immigration processes are easy to
universities rated Simon Fraser University (SFU) navigate for students, and recent changes in regulations
top among mid-sized institutions for medical and have made it easier for international students to work in
science grants, faculty awards, and social science and B.C. following completion of their studies.
humanities grants. The university placed second for
overall academic excellence. Educational institutions have leveraged Vancouver’s
diversity to build strong multicultural and international
• British Columbia was the first province in Canada to linkages and programs. These linkages benefit local
accept international students in the public K-12 system businesses by strengthening their access to foreign
(10,000 K-12 international students in 2006-2007). language skills, foreign business practices, overseas
talent and potential business partners.
In addition to two major research universities, Greater
Vancouver has an array of outstanding educational • British Columbia’s public K-12 schools have been
institutions, including the second-largest K-12 school accepting international students for 25 years and offer
system in B.C., the province’s only polytechnic institute, an array of programs – high school matriculation;
about 20 public and private colleges and institutes single-semester; short-term, intensive English
offering post-secondary qualifications, and a cohort of courses; and special programs for elementary-level
private language and career training schools catering international students.
to the immigrant population. About eight per cent of
the workforce is in the education sector; teachers and • Both UBC and SFU have extensive linkages to peer
professors make up the third-largest occupation group in universities in Asia Pacific countries and elsewhere.
the city.
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
www.vancouvereconomic.com. To request the guide in book format ($25) please phone 1-866-632-9668.BUSINESS & INVESTMENT GUIDE » KEY SECTORS » EDUCATION JUNE 2008
• Vancouver’s B.C. Institute of Technology is home to the
first Confucius Institute in Canada - a partnership with
China to facilitate knowledge of Chinese culture and
language in British Columbia.
• More than 30 private language schools operate in
Vancouver, many of them in the downtown core,
focusing primarily on English as a second language
photo: SIMON FRASER UNIVERSITY
instruction.
• Fifty-eight private vocational and career-training
institutions operate in Vancouver, with close to 50,000
enrollments.
• British Columbia’s colleges and universities operate a
variety of programs overseas, generating $2 billion in
revenue annually.
• The University of British Columbia and Simon Fraser
Resource Organizations
University offer world-class expertise and facilities for
applied research and discovery: > B.C. Career Colleges Association
www.bccca.com
• UBC became the first Canadian university to generate Organization of private sector post-secondary education suppliers.
more than $100 million in cumulative licensing revenue > B.C. Centre for International Education
from the sale of technologies and spin-off companies. www.bccie.bc.ca
Non-profit that promotes international education.
• SFU has created more than 70 spin-off companies. > B.C. College Presidents
www.choosebccolleges.ca
• Four post-secondary institutions in Vancouver have Organization to advance the interests of B.C. colleges.
come together to create Great Northern Way Campus,
> B.C. Electronic Library Network
a collaborative partnership with industry to develop, www.eln.bc.ca
test and deploy new media and sustainability-related A partnership of the B.C. government and post-secondary libraries.
technologies. Based at SFU, it facilitates access to information for learners and
educators throughout B.C.
Over 40% of the > B.C. Institute of Technology
www.bcit.ca
population has a mother Full-time students 16,000; part-time 32,000. Western Canada’s premier
polytechnic institute, offering degree and certificate programs in a variety
tongue other than of fields, including transportation, digital media, construction, health
sciences and natural resources.
English or French, > Canadian Association of Private Language Schools
and public school
www.capls.com
Vancouver-based national association of private English and French
language schools, representing more than 100 schools across Canada.
students speak 57 unique > Centre for Policy Studies in Higher Education and Training
languages www.chet.educ.ubc.ca
Centre for policy research on educational issues.
> Emily Carr Institute of Art + Design
Incentives www.eciad.ca
The Government of British Columbia is the biggest investor Students: 1,600. One of B.C.’s oldest colleges and one of Canada’s
in education in the province and is spending an additional leading arts institutions, offering undergraduate and graduate programs
in visual arts, media arts and design.
$1 billion annually to add 25,000 new seats at colleges and
universities by 2010 – about 5,000 of them in Vancouver. > Government of British Columbia
An additional 650 graduate student places are also being B.C. Ministry of Advanced Education
funded. www.learnlivebc.ca
The complete VEDC Business & Investment Guide is available in PDF format on our website at:
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