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Tools for Economic Vitality

As you already know, VIEA has been busy creating tools to improve economic prospects for Vancouver Island. This message is to encourage VIEA members to use these tools to the fullest extent applicable to your needs.

The Economic Summit (13th annual October 23/24) is a mechanism for bringing stakeholders together from all across the region to network, learn about economic trends, highlight emerging opportunities, and to explore solutions to nagging problems.

VIEA’s Economic Report (5th annual to be released at the Summit) is an informative tool, unique in Canada, as the only regional, cross-sector, reader-friendly, data-driven document of its kind produced by a non-government organization.

Island Good, a market share success story for Island goods producers, processors and retailers, is now trademarked and available for anyone in the goods producing value chain as a tool to raise consumer awareness and increase sales.

Foreign Trade Zone designation, achieved by VIEA in 2018 for all of Vancouver Island (FTZVI), is already showing the marketing power of a globally-recognized acronym–FTZ–as we are continually fielding inquiries from exporters and investors interested in Vancouver Island opportunities.

And now, we have seven (7) business cases available as tools to be used by anyone looking for tangible examples of investment opportunities to share with prospective investors.

Three of these business cases were developed in 2017 to demonstrate potential for new value-added wood industries on Vancouver Island. (ICET, Cities of Campbell River, Port Alberni and Nanaimo, Cowichan Valley Regional District, Nanaimo and Port Alberni Port Authorities, Harmac Pacific, Seaspan Ferries, and Britco contributed to this project.)

Four of these business cases were completed in December 2018 specifically to market investment potential to prospective foreign investors. These focus on clean tech, aquaculture, waste wood and tourism. (ICCI, ICET, City of Port Alberni, Port Alberni Port Authority, and Cowichan Valley Regional District contributed to this project.)

Whether you are in the public or private sector, growing your business or marketing your community, seeking advantage for your clients or raising the profile of your institution, referencing these tools can add to your value proposition.

  • Use a business case that fits your business or community profile as part of your attraction strategy;
  • Use the Economic Report as part of your information package to show the scope of the Island economy and how your offering fits;
  • Reference that your community and/or enterprise is within our Foreign Trade Zone and the advantages associated;
  • Encourage participation in Island Good to build market share for your local producers;
  • Suggest to new clients or business prospects that the Summit is a great place to connect with stakeholders from across the Island;
  • Link to these tools on your website and in your correspondence, etc.

 

When it comes to business and economic development, ‘specific’ is always better than ‘generic’. Each of these tools is unique and available to help you distinguish your offering in a competitive environment.

We’re happy to answer any questions you may have.

Thank you for your continuing interest and support!

George Hanson, President

(The Economic Summit is presently under construction. Early Bird registration will open in late May. Sponsorship opportunities are still available. See 2019 sponsors listed below.)

 

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