Jobs and the Economy
Vancouver created one third (82,900) of Canada’s 277,000 new jobs over 2015-16, and is expected to create another 43,000 over the next two years according to the Conference Board of Canada’s latest Metropolitan Economic Outlook. Driven by the city’s innovation economy in technology, digital entertainment, film, tourism and finance, Vancouver’s position as an international gateway has been instrumental in driving economic growth during challenging and uncertain global economic conditions.
It’s hard to believe it’s almost the end of 2016 – and what a year it’s been! From building thousands of new homes to meeting many of our Greenest City targets, I’m proud of everything we’ve accomplished together this year. We know affordability remains a top concern for many Vancouverites, and we’re struggling with a devastating fentanyl overdose crisis in our city, but we’ve got big plans for at City Hall in 2017. But first, let’s take a moment to celebrate some of the highlights from the past 12 months:
Today City Council approved Vancouver’s 2017 Budget, which offers a broad range of services using a limited range of revenue sources. The 2017 Budget makes a record investment in affordable housing, provides new funding to improve city services like permits and licensing, and adds targeted funding to address the fentanyl overdose crisis that is putting a huge strain on City police and fire services.
Minister Morneau’s announcement that the federal government will expand infrastructure funding to $186 billion over 11 years – a $66 billion increase over March’s budget - is a welcome one. The new $35 billion Infrastructure Development Bank, and more trade and transportation infrastructure funding to help cities maximize their borrowing capacity is good news for Metro Vancouver.