Economic Development

As the provincial capital, Victoria is a small powerhouse with an innovative business environment and a resilient economy.

Image of the cover of Victoria 3.0 Economic Action Plan
Victoria 3.0 Economic Action Plan
Government Street animated with people and cyclists
Pedestrians and cyclists enjoying Government Street
Image of Fan Tan Alley in Chinatown
Fan Tan Alley in Victoria's Chinatown
Image of Lower Johnson Street and Bridge lit up at night
Lower Johnson Street and view of Johnson Street Bridge at night
Aerial image from a seaplane of Victoria
Aerial of Victoria taken from a seaplane

Home to a community dedicated to supporting local business, Victoria is a unique and engaging hub of creativity, innovation and entrepreneurship that has beaches and parks at its doorstep to easily disconnect. With heritage buildings, world class businesses, top-rated tourist attractions and a well -established food scene, Victoria has something for everyone. While the vibrant downtown core is nestled in an active harbour supporting planes and ferries with service to the Pacific Northwest, the rest of the city’s neighbourhoods are a mix of high-rises and attractive heritage homes. 

Economic development in Victoria is guided by Victoria 3.0 – Recovery Reinvention Resilience, the City’s Economic Action Plan. Victoria 3.0 accompanies the City’s Official Community Plan to 2041. It’s a long-term plan and vision for a sustainable, influential city that will build a strong innovation system and create a strong and resilient economy now and for the future. The actions laid out will build an economy that enables everyone to flourish and set Victoria on a path to low-carbon prosperity.

Victoria 3.0 was developed to:

  • respond to the threats and opportunities created by climate change
  • recover from COVID-19 and create resilience so local businesses and economy can withstand emergencies
  • stimulate and support innovation
  • substantially leverage existing skills and assets
  • build on the economic stability offered by our large public sector employment base
  • diversify the economy
  • prepare our workforce for the future
  • build on B.C. and Canada’s strong international reputations for innovation and access to the world’s best markets


Read Victoria 3.0