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National News
Federal Government Announces $326 Million Investment for B.C. Infrastructure
| | Funding will come through the Canada Community-Building Fund and the Union of B.C. Municipalities will lead distribution. Local governments can use the money for projects such as transit, water systems, roads, bridges and recreation facilities. | | |
Municipal News
Victoria and Saanich Secure $900K for New EV Chargers
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Victoria and Saanich will share nearly $900,000 in new federal funding to expand electric vehicle infrastructure as part of a recent $22.7 million investment across B.C.
Victoria will receive $517,500 to add more than 50 new chargers, including both Level 2 and fast chargers, while Saanich will receive $350,000 to install 42 chargers supporting municipal fleet electrification. Federal ministers say the funding will contribute to more than 480 new EV chargers across the province, located along highways, in public spaces, workplaces and residential areas.
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Provincial News
Province Caps 2026 Rent Hikes at 2.3 Percent
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The Province recently set the maximum allowable rent increase for 2026 at 2.3 percent, down from this year’s 3.0 percent. For the second year in a row, the cap matches the province’s inflation rate. Housing Minister Christine Boyle says the policy is designed to balance affordability for renters with the need for landlords to reinvest in their properties.
The Province emphasized the cap is part of broader renter protections, which includes a $400 annual renter’s tax credit for low- and moderate-income households and measures to prevent illegal renovictions. Rent increases cannot take effect until January 1, 2026, with landlords required to give at least three months notice.
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Member News
Camosun College Reappoints Lane Trotter as President
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Camosun College recently reappointed Dr. Lane Trotter to a second five-year term, extending his leadership as President through 2032. The board of governors announced its decision following a review including feedback from faculty, staff, students and community partners.
Since his appointment in 2022, Trotter has launched Camosun’s Strategic Plan 2023–2028, expanded programming in high-demand fields and advanced partnerships with industry and Indigenous communities.
“It has been a privilege to lead Camosun and work alongside so many talented, dedicated people,” says Trotter. “I look forward to building on the progress we’ve made.”
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National News
Bank of Canada Signals Focus on Supply Shocks and Housing in 2026 Review
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Bank of Canada Governor Tiff Macklem recently announced the central bank’s upcoming 2026 mandate review will focus on how monetary policy can adapt to a world of heightened uncertainty and shifting global trade dynamics. Macklem says that supply shocks, trade tensions and rising protectionism are reshaping the economic landscape and could lead to more volatility in inflation.
The review examines key areas, including how the bank should respond to supply shocks and monetary policy interactions with housing affordability. While reaffirming the importance of the two percent target, Macklem acknowledged the need to refine the tools and indicators the bank relies on.
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Did You Know?
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"Canada's merchandise trade deficit widened in June to $5.9 billion as imports grew faster than exports due to a one-time high-value oil equipment import, data showed on Tuesday. The deficit observed in June is the second highest on record after the deficit expanded to its largest in history in April to $7.6 billion, when the impact of U.S. tariffs first started to weigh." - Reuters
| | Business and Community Leaders Celebrate at SIPP's Summer Patio Mixer | |
Thank you to the over 90 business and community leaders who joined us for SIPP’s recent Summer Patio Mixer at CRAFT! It was inspiring to see so many people come together, from entrepreneurs and innovators to public sector partners and changemakers, to celebrate what makes Greater Victoria’s economy thrive.
Events like this are a reminder that prosperity isn’t built in silos, it’s built through collaboration, conversation and connection. We’re looking forward to carrying this momentum into the fall with more SIPP events that highlight opportunity, spark dialogue and bring people together around the big ideas shaping our future.
| | | | Christine Gleed, Deirdre Campbell, Andrea Thomas, Ana Glavan | | Miranda Ji, Shelly D'Mello | | Terri O'Keefe, Sophie Silkes | | Jeremy Caradonna, Aaron Stone, Jeremy Loveday | | |
Tessa Davies, Jerome Etwaroo,
Kerri Moore
| | Indigenous Youth Dive Into Ocean Stewardship at Blue Economy Day Camp | |
The SIPP-initiative Indigenous Prosperity Centre (IPC) hosted the second annual Indigenous Youth Blue Economy Day Camp from August 18-22. Over the week, nineteen Indigenous youth explored ocean stewardship through hands-on experiences, cultural teachings and career pathways rooted in Indigenous knowledge and values.
Activities ranged from ecosystem exploration with the Songhees Marine Team and Habitat Acquisition Trust, to an interactive industry showcase with COAST partners including BC Ferries, Ocean Networks Canada and the Canadian Coast Guard. By centring Indigenous values, the Day Camp is shaping a sustainable and inclusive future where young Indigenous leaders can thrive.
| | SIPP's COAST Ocean Innovation Hub Offers a Flexible Event Venue for Any Gathering | | |
Looking for the perfect setting for your next business meeting, workshop, or networking event? SIPP's COAST Ocean Innovation Hub offers a sleek, modern space in the heart of downtown Victoria, designed to meet all your event needs.
Key Features of our event venue and meeting spaces:
· Contemporary, open event area accommodating up to 140 guests
· Flexible room configurations to suit groups of any size
· Abundant natural light and soaring ceilings
· State-of-the-art video conferencing and AV capabilities
· Convenient food preparation and serving area
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What We're Working On
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SIPP is currently completing the Rising Economy Taskforce Final Report, which features insights and recommendations to address Greater Victoria's economic issues and opportunities across sectors. Stay tuned for the release in September.
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The SIPP-intiative Victoria Rising now offers over 1,000 free image assets on its website. If you're tired of old stock photos of Greater Victoria, sign up and become a brand partner for free to access cutting-edge photos from professional photographers. - Victoria Rising Toolkit
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Marine energy and decarbonization technology companies, express your interest in participating in the first innovation challenge offered through the BC Marine Energy and Decarbonization Hub: Decarbonizing Canadian Coast Guard (CCG) land-based remote operational sites. Check out more on the Victoria Rising opportunities page. - Victoria Rising
| | Featured SIPP Members of the Week | |
We’re proud to highlight these organizations as South Island Prosperity Partnership’s Members of the Week. As dedicated members of SIPP, their leadership, collaboration and commitment to regional prosperity help strengthen the South Island economy and community. We thank them for the meaningful impact they continue to make.
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Greater Victoria’s Economic Alliance Wins Two International Awards Showcasing Region’s Economic Innovation
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🏠 Prime Minister Carney launches new Major Projects Office to fast-track nation-building projects - Government of Canada
🙌 How impact organizations in the capital region are transforming communities - Times Colonist
🍎 North Saanich council working up an appetite for local food hub - Victoria News
⛴️ BC Ferries expecting busy long weekend - CityNews
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