Business Counts - December 2015
Regional Statistics & Research Update

Comox Valley Economic Development's services include the collection and provision of economic data and statistics about the region. To view additional resources click here and to view the CVEDS Annual Work Plan click here.

46 single-family homes sold in the Comox Valley in November 2015, the same amount that sold in November 2014. Year-to-date single-family unit sales are up to 809 from 757, a 7% increase over 2014. The average single-family unit selling price year-to-date was $364,196, a 2% increase over the same period in 2014.
Source: VIREB November Graph Stats Comox Valley 

Comox Valley building permit values in September 2015 totaled $6.45 million, a 20.1% decrease over September 2014. however, year-to-date building permit values are at $125 million, a 71.9% increase over the same period in 2014. This is the largest year-to-date growth over 2014 of any regional district on Vancouver Island, and second largest in BC. This growth can be attributed to a $32.6 million increase in institutional building permit values so far in 2015 over 2014, a 320% increase. The largest growth by permit type so far has been industrial, with a 769.% increase over 2014. While residential permits continue to be the major source of building permit values, their share of total permit values fell from 78.7% in 2014 to 55.7% in 2015, whereas the share of institutional permit values grew from 13.9% to 33.9%. 
Source: BC Stats BC Building Permit Report  

Tourism & Transportation

The Vancouver Island Visitor Centre YTD is tracking an increase of 10% of true visitors using the Centre, and a 7% increase YTD in the number of total visitor parties. Comox Valley Airport passenger numbers are up 8.5% in September when compared to September 2014; YTD passenger numbers are up 9% over 2014 (see chart below). 2015 is on track to be the busiest year in YQQ's history. Additional Hotel Room Tax Revenue was up 11.3% in September over the same month last year, and is up 5.19% so far in 2015 over the same period in 2014.
Sources: Vancouver Island Visitor Centre, Comox Valley Airport Commission

Labour Force
The BC unemployment rate fell 0.1%* from 6.3% in October to 6.2% in November. The labour force shrunk by 0.2%*, the participation rate fell by 0.2%*, the number of employed fell 0.1%* and the number of unemployed fell 2.1%* October to November. The Vancouver Island/Coast Development region's 3-month moving average unemployment rate saw a 0.1% decrease from 6.4% to 6.3% in November over October, despite the region adding 3,200 jobs.
Source: Statistics Canada Labour Force Survey, Highlights prepared by BC Stats 
* Seasonally Adjusted 
Consumer Price Index 
The Consumer Price Index (CPI) in BC rose 1.7% in November 2015 over November 2014.
When energy is excluded, the measure increases to 1.9%, but falls to 1.1% when food is excluded. The CPI in metropolitan areas of BC, Victoria and Vancouver, rose 1.4% and 1.8% respectively. Canada's CPI increased by 1.4% in November, with provincial rates varying from 0.2% in Prince Edward Island to 2.1% in Saskatchewan. All provinces west of Ontario saw inflation higher than the Canadian average, while the eastern provinces were less.
Source: Statistics Canada Consumer Price Index, Highlights prepared by BC Stats  
News & Events

Comox Valley Development and Construction Assn Hosts Holiday Mixer 
There was an excellent turn out for the Holiday Mixer hosted by the newly formed Comox Valley Development and Construction Assn at the Blackfin Pub on Dec. 17. The Association was formed to provide a single voice for the developers, builders, and professionals on matters that relate to development in the Comox Valley. To join or learn more, email Murray Presley, Chairman, Comox Valley Development and Construction Association, or call 250-338-1394 or click here to download the membership form.    
Provincial Red Tape Reduction Effort

The BC Government released a report on the 6 week consultation on reducing red tape for British Columbians. The report identified 11 common themes on what people wanted in red tape reduction. Read more.

Trans Pacific Partnership Text Release

Last month the text Trans-Pacific Partnership (TPP), the most comprehensive trade agreement in the world, was released to the public. Click here to learn more about the TPP and what it means for Canada. 
Preliminary approval for Berwick Expansion

Comox council gave preliminary approval Wednesday to updated plans for a five-storey addition to The Berwick on Comox Avenue, after developers returned to present their future plans for the retirement facility. Read more.

New seniors development planned

A seniors community is being planned at the Home Hardware (Central Builders) property in Courtenay. The new community, Tiger Lily at Courtenay River, is expected to contain condominiums and rental apartments for supported living, assisted living and memory care. Read more.  
BC announces $100 million tech venture capital fund

The British Columbia government is betting on the potential success of technology startups to boost job creation across the province. Premier Christy Clark announced a $100-million venture capital fund to give early-stage tech entrepreneurs access to money that will help grow their businesses. Read more.