ISLAND COASTAL REGION POSTS HIGHEST FULL TIME EMPLOYMENT GROWTH IN BC

Monday, January 23, 2017

COURTENAY – Contrary to recent media reports stating that employment growth in BC has been limited to Vancouver and Victoria, the Island Coastal region has posted solid growth of 1.7% in the past year.

The Island Coastal region includes all of Vancouver Island outside of the Victoria metropolitan area, as well as coastal areas from Powell River north to the Central Coast.  It is the only rural area to show employment growth in the past year. 

“Even better news for regional residents is growth in full time employment, which was 6% last year, the highest in BC.” stated Mayor Phil Kent, Chair of the Island Coastal Economic Trust.  “Full time jobs are an indicator of higher quality employment, associated with higher incomes and better non-wage benefits.”

The region saw a net increase of 3,000 jobs from 2015 to 2016. Additionally, an impressive conversion of 4,800 part-time jobs to full-time jobs was also noted in the survey.

“For the past 10 years, our region has been working collaboratively to diversify the economy and create new employment,” Kent said. “Thanks to the funding we received from the Province of BC, we have been able to invest in economic infrastructure initiatives, which have contributed to some of the economy’s key job growth sectors.”

Data analysis was provided by ICET’s consulting economist Jamie Vann Struth based on Statistics Canada Labour Force Survey. Further economic analysis data about the ICET region is available on the ICET website:

Comparative data charts can be found here:

islandcoastaltrust.ca//Employment_Growth_Island_Coast_Region_2016.pdf

About the Island Coastal Economic Trust

Created by the Province of BC in 2006, the Island Coastal Economic Trust is celebrating its tenth year of investment in economic diversification, planning and regional revitalization.

ICET is independently governed by a Board of Directors and two Regional Advisory Committees which include more than 50 locally elected officials, MLAs and appointees from the Island and Coast.  This exceptional team of leaders collaborate to set regional priorities and build vital multi-regional networks. 

Through a community-centred decision-making process, ICET has approved $49 million for over 160 economic infrastructure and economic development readiness projects.  ICET investments have leveraged over $270 million in investment into the region creating more than 2500 construction phase jobs and 2600 long term permanent jobs. 

A full overview of ICET can be found at www.islandcoastaltrust.ca.

-end-

For further information:

Line Robert, CEO
Island Coastal Economic Trust
Tel. 250-871-7797 (Ext. 227)
line.robert@islandcoastaltrust.ca

Mayor Phil Kent, ICET Chair
City of Duncan 
Tel. 250-709-0186
mayor@duncan.ca

ICET By The Numbers

2,500
person years employment created (construction phase)

ICET By The Numbers

50
locally elected officials and MLAs working together

ICET By The Numbers

$10.4
million annual provincial government revenue generated

ICET By The Numbers

3,650
post completion jobs created

ICET By The Numbers

$4.6
dollars leveraged for every ICET dollar invested

ICET By The Numbers

$236
million leveraged into the region

ICET By The Numbers

$50.5
million disbursed

ICET By The Numbers

$52.1
million committed

ICET By The Numbers

212
economic development projects

ICET By The Numbers

170
projects completed

ICET By The Numbers

36%
projects in small (less than 5,000) communities

ICET By The Numbers

50+
communities with ICET projects

2018-19 Annual Report

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