A new provincial Crown corporation with independence to make investments without political interference has been created. The aim is to use a $500 million fund to keep growing businesses in BC, instead of moving away as they scale up and need more capital.

The province says InBC is a new initiative to "help businesses scale up, drive innovation, create family-supporting jobs" that will drive economic recovery after the pandemic ends.

“Congratulations to the BC government on the launch of the InBC Strategic Investment Fund," BDC Capital executive vice-president Jérôme Nycz said in a news release. "We are pleased that the province can rely on a new source of capital to support its innovation economy, alongside other national players such as BDC Capital.”

On Monday, the provincial government announced it was expanding the Circuit Breaker Business Relief Grant to help businesses struggling because of pandemic restrictions. The province increased the fund to $125 million with one-fifth of that targeted at hotels and other accommodation providers. Businesses with more than 100 employees can receive up to $20,000, while those with between five and 99 employees can get up to $10,000.

We can all agree that everyone needs and deserves a safe community in order to have functional and healthy workplaces and homes. In Greater Victoria, we know there is tremendous compassion for people living in our communities' parks and on our streets. Tremendous work has been done to help and house individuals, but more needs to be done to address root causes. Specifically, the issue of involuntary care has been a controversial topic but is one that needs to be discussed.

The Chamber commends Our Place CEO Julian Daly for this thoughtful essay published on April 27 in the Times Colonist.

Daly, who also spoke about this issue on a Chamber Chat in February, acknowledged that the issue "will be provocative and controversial to some."

"After decades of work in this field, and years of advocating for those who are homeless and struggling, heartfelt and bitter experience has taught me that, in some situations, there is a need to bring people into this kind of care involuntarily," Daly writes, stressing that he does not want a return to the old ways of inhumane institutions. However, he states there are extreme circumstances when vulnerable people need to be removed from dangerous situations. "In these situations, we believe it is the right thing to compel care. We believe that in doing so their rights are recognized – the right to be safe, the right to be housed, and the right to good health."

Property owners in the District of Saanich will now have extra flexibility to pay property taxes. The municipality has adopted a staggered schedule for late penalties on all property taxes.

“We recognize that a one-time penalty of 10% is significant and is likely a bigger disincentive than needed to get taxpayers to pay on time,” Saanich mayor Fred Haynes said in a news release. “We hope this adjustment alleviates some of the financial stress for those having difficulty paying their full taxes on time or when an honest mistake is made paying late or claiming the home owner grant."

CHEK is a local media outlet that knows all about finding innovative ways to redefine and grow its business and culture. Listen to CHEK General Manager Rob Germain and Chamber CEO Bruce Williams talk about the station’s history, and how the past 10 years have prepared CHEK to be a community leader for decades to come. 

Special thanks to our series sponsor: Island Savings

A ferry between the City of Colwood and downtown Victoria continued to break new waves. The Capital Regional District's Transportation Committee looked at the concept last week and decided the idea is worth a feasibility study. The CRD's board will now vote on May 12 to decide whether to work with the province and other partners to pursue the study.

"In a region surrounded by water, it would be irresponsible not to fully explore the feasibility of marine travel as one approach to addressing traffic congestion and achieving our active transportation and clean energy goals," Colwood mayor Rob Martin said in a news release.

Last year, BC Ferries CEO Mark Collins told a Chamber Business Restart Series that a ferry from Royal Bay to Victoria could make a profit. The route would connect to Ship Point and, potentially, Esquimalt and service commuters working downtown or at the naval base.

As part of the celebration of Chamber Week in February, our Chamber Champions submitted quotes highlighting the importance of investing in The Chamber. Each week we will be showcasing these quotes.

As sunnier days are quickly approaching, now is a perfect time to ensure you’re well-staffed by using your one free annual job posting. 

Chamber Members are entitled to one free 30-day listing on the job board every calendar year. Simply use the code INTRO2021 at checkout. 

If you have any questions or need assistance uploading your job posting, please email [email protected]

Apprentice Carpenter – Knappett Projects Inc. 

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