Support the Growth of Existing Businesses:

Over 90 percent of businesses in Western Canada are categorized small and medium enterprises. These businesses are the backbone of our economic success. Studies estimate that 60-80% of new employment is created by existing firms rather than by attracting new businesses to communities. All efforts should be made to facilitate the growth of existing companies and creation of more small and medium-sized enterprises.

GVDA connects business with the people and information they need to know in order to help their businesses expand to a new level. This includes partnerships with the provincial and federal governments to deliver industry workshops on such issues as lean manufacturing, export market development and large project procurement opportunities. In addition, partnership opportunities have been developed for trade missions and employee recruiting at the regional, national and international levels.

Victoria Business Retention:

The GVDA economic development strategy recognizes the importance of existing businesses. As a smaller urban centre, it is important for Greater Victoria to develop a strategy to retain a high percentage of our growing companies as they expand their market reach. As businesses grow in place they help to a more robust labour market and in turn, draw other companies to region to take part in the vibrant economic environment.

Our program of local company relationship building helps track the needs and growth requirements of local businesses. Other important initiatives will include labour force development partnerships and industry/academic research and development partnerships.

Business Attraction:

The Greater Victoria Development Agency promotes the natural advantages and excellent business climate of the Greater Victoria region to rest of Canada and the world. We leverage the efforts of the provincial and federal governments regarding industry attraction, including targeted relationship building with site selector consultants, business attraction tradeshows and missions, as well as industry association presentations and roundtables.

Victoria Regional Economic Data and Information Portal:

The GVDA actively collects and distributes economic data and other information from government and industry partners to help identify new development opportunities. In addition, the GVDA surveys the Greater Victoria region to identify new challenges and opportunities, allowing all stakeholders to have input on issues facing the region.