Victoria 3.0 - Pivoting to a Higher Value Economy

Draft Economic Action Plan in the Making

This fall, the City of Victoria hosted a series of roundtable discussions with people who do business in the community to inform its next Economic Action Plan, Victoria 3.0 – Pivoting to a Higher Value Economy.

The Plan will position Victoria as an attractive place to invest and to start and grow a business over the next five to 20 years. The goal is for Victoria to become a small powerhouse that creates high-value jobs and builds a high-value economy that meets current, and anticipates future, needs.

Each roundtable contained two topics to allow for the cross-pollination of ideas. Most roundtables were open to the public to attract a diversity of people, input and ideas. The roundtables were free to attend and were facilitated by Mayor Lisa Helps at Victoria City Hall.

Thank you to everyone who participated in the roundtable discussions. Your time and input were greatly appreciated.

Roundtable Discussions

The six roundtable discussions included:

  • Tech, Advanced Education Research and Development Roundtable
    This roundtable was for movers and shakers working in tech and research & development in industry or in post-secondary institutions. Learn more.

  • Indigenous and Newcomer Businesses Roundtable
    This roundtable was for Indigenous-run businesses and organizations that support Indigenous entrepreneurs. It was also for newcomer-run businesses and organizations that support newcomer entrepreneurs. Learn more.

  • Ocean Futures Cluster Development Roundtable
    This roundtable was for anyone working in the ocean and marine sector, and was by invite only to have a focused conversation on cluster development. Learn more.

  • Neighbourhood Business and Social Enterprise Roundtable
    This roundtable was for people who run businesses in the City’s neighbourhoods and includes people who work from home in these neighbourhoods. It was also for everyone working in the social enterprise sector. Learn more.

  • Small Business and Finance Roundtable
    This roundtable was for anyone who runs a small business in Victoria, with a focus on downtown businesses. It was also for everyone working in the financial sector. Learn more.

  • Youth Economic Roundtable
    This roundtable was for youth! According to a recent report, “Humans Wanted: How Canadian Youth Can Thrive in an Age of Disruption” there will be 2.5 million more jobs created in Canada over the next five years; a technology revolution always results in more jobs not less. Youth are well-positioned to lead in this new economy. Learn more.

Next Steps

Input from the roundtable discussions will inform the Draft Economic Action Plan that will be shared with City Council in January 2020 for consideration. Stay tuned for updates.

Background

The new Economic Action Plan will position Victoria as an attractive place to invest and to start and grow a business. We want to do this because:

  • We want high-value jobs for Victorians in a global economy with a rapid pace of change
  • Automation is on the rise and we want to be future ready
  • Inclusion and diversity are key to a strong economy and a healthy community
  • There is ample economic opportunity and job-creation potential in responding to the climate crisis 

Where We're Heading:
As the Capital City, Victoria is a future ready, globally fluent, influencer and innovator. We are using our status as a small powerhouse to create high-value jobs and build a high-value economy that meet our needs now and anticipates the future. 

In 2015, the Mayor’s Task Force on Economic Development and Prosperity created the City’s first economic action plan, Making Victoria: Unleashing Potential. Almost all of the actions in that plan have been achieved. Successes include a decrease in retail vacancies downtown, an increase in the number of net new business licences, a low unemployment rate, and the amount of development underway.

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