B.C.’s economy is No. 1, GDP numbers confirm
It has been a lengthy wait, but the release of provincial gross domestic product (GDP) estimates confirmed our expectation that B.C. indeed led the country in economic growth in 2015. Provincial GDP expanded 3% last year, compared to 0.9% nationally, and aligned with...
Canadian forestry finding its footing despite market challenges
The good news is that market conditions and profits are improving for Canadian lumber and pulp and paper producers. The recent numbers are promising. First-quarter financials show that B.C.’s major forestry companies have been posting increased earnings, thanks to...
A look inside B.C.’s booming April job numbers
In April, British Columbia's unemployment rate dropped to a stunningly low 5.8% — the first time the province’s unemployment rate has been the lowest in the country since Statistics Canada began collecting comparable data in 1976. The highest job growth by far...
B.C.’s minimum wage will rise to $10.85 this year, and $11.25 by 2017
The B.C. government will increase the province's minimum wage in two stages, bringing the wage from the current $10.45 an hour to $11.25 an hour by 2017. On Sept. 15, 2016, minimum wage will rise to $10.85. That's a higher rise that what the province had previously...
New Brunswick court decision could help expand market for B.C. wines
A decision by a provincial court judge in New Brunswick is expected to open up new markets in the rest of Canada for B.C.’s wine industry. On April 29, New Brunswick judge Ronald LeBlanc threw out the law preventing residents from that province from importing beer and...
Another tough year ahead for oilpatch, but recovery is on its way
If Canada’s oil and gas sector can survive another tough year, good times will return in 2017 and revenue and profit could soar by 2020, according to the Conference Board of Canada. Profits are expected to increase from less than $1 billion in 2017 to more than $5...
Don’t expect Vancouver real estate to cool anytime soon: Central 1
The real estate market in Vancouver is going through the roof, and this is expected to continue through 2018, according to a Central 1 forecast released April 19. So far this year, Central 1 said, sales in Metro Vancouver alone have outperformed the credit union’s...
Sewell’s Marina tacks closer to Horseshoe Bay waterfront megaproject approval
The Sewell family believes they are close to receiving approval from the District of West Vancouver for a proposed mega-residential and commercial waterfront development on the Horseshoe Bay waterfront. Preliminary plans show 171 residential units to be spread...
Whistler Blackcomb announces ‘largest and most exciting’ investment in company’s history
Whistler Blackcomb Holdings Inc. has announced plans for what it calls its largest and most exciting investment in the company’s history: a $345-million investment that includes a new lift, an indoor ‘adventure centre’, a transformed village at the base of...
Vancouver’s Endeavour Mining starts construction on Burkina Faso gold mine
Vancouver’s Endeavour Mining (TSX:EDV) has commenced construction at its Hounde project in Burkina Faso, which is forecast to produce about 1.9 million ounces of gold over a 10-year mine life. Shares soared on the news and were trading 7.6% higher to $13.77 at 10:30...
Three B.C. First Nations buy provincial Jericho Lands for $480 million
Three British Columbia First Nations have signed a deal to acquire the provincial Jericho lands for $480 million, making them the owners and developers of arguably the most valuable real estate in the country. The agreement, which was reached April 8, involves...
B.C. had Canada’s fastest year-over-year job growth in March: StatsCan
According to Statistics Canada, British Columbia is the top performer in Canada with a 3.2% increase in employment rate in the 12 months to March. B.C. gained 72,000 jobs year-over-year in March, helped by an increase of 9,000 positions in the month, according to...