|
SIPP News
New Report Focuses on Turning Economic Possibility into Prosperity
| | By mobilizing these assets, the region has the potential to turn volatility into opportunity and build shared prosperity. The Taskforce, made up of 35 business and nonprofit leaders, drew insights from broad community engagement across surveys and open houses and sets a path forward for transformation. | | |
Member News
UVic Considers 500 New Housing Beds to Ease Student Demand
| |
The University of Victoria is considering a major expansion of its residence precinct to bring 510 new student housing beds by 2029. The proposed complex, designed for upper-year and graduate students, would feature 150 studio units and 90 quads on a portion of Parking Lot 5 near the UVic Transit Exchange.
Early feedback shows support for building height to maximize capacity while minimizing land use, alongside calls for Indigenous design elements, more greenery and well-lit pathways. If approved, construction will begin in 2026, with move-in slated for fall 2029.
| | |
National News
Canada and Indonesia Strike Groundbreaking Trade and Defence Agreements
| |
Prime Minister Carney and Indonesian President Prabowo Subianto recently signed landmark agreements on Parliament Hill covering trade and defence cooperation. The new trade deal, Canada’s first-ever bilateral pact with a member of the Association of Southeast Asian Nations (ASEAN), will eliminate or reduce tariffs on over 95 percent of Canada’s current exports to Indonesia, making Canadian goods more competitive in the world’s fourth most populous country.
The agreement is expected to open doors across multiple industries, from resources to advanced technology. With Indonesia seeking Canadian expertise in critical minerals and nuclear technology and Canada increasing its ASEAN presence, the agreements mark a major step toward closer economic and security ties between the two nations.
| | |
Member News
Greater Victoria Comes Together for National Day for Truth and Reconciliation
| | |
On September 30, communities across Greater Victoria will come together for the National Day for Truth and Reconciliation, a day of remembrance, learning and action. Events include the annual South Island Powwow, hosted by the Songhees Nation at Royal Athletic Park. The free gathering will feature the grand entry of Nations, Indigenous song and dance, guest speakers, cultural performances and more.
Alongside the Powwow, a range of events invite residents to reflect and participate. These include a family-friendly Truth and Reconciliation Day Ride, a healing walk and mural at John Phillips Memorial Park and evening gatherings with music, storytelling and dialogue hosted by local organizations. Check out the full list of events on the Indigenous Prosperity Centre website.
| | |
Provincial News
Province Invests $9M to Speed Up Housing Approvals Across B.C.
| | |
The Province is investing $9 million in a new round of the Local Government Development Approvals Program (LGDAP), designed to help municipalities and regional districts streamline permitting and development approvals to deliver housing faster.
Administered through the Union of British Columbia Municipalities (UBCM), the program funds local government-led projects to improve efficiency and reduce homebuilding delays. This third intake of LGDAP will open in early 2026, with funds distributed by mid-year. Previous intakes supported around 40 local governments with $19 million invested in projects across the province.
| | |
National News
Bank of Canada Warns Structural Reforms are Key to Future Growth
| | |
Bank of Canada Governor Tiff Macklem recently warned that Canada must implement urgent structural reforms to safeguard long-term economic growth in the aftermath of the U.S. trade war. While the initial economic impact of U.S. tariffs has been milder than expected, Canada’s growth trajectory has been permanently affected.
Macklem stressed how reversing this trend requires strong policy action, including increased investment, productivity improvements, removal of interprovincial barriers and diversification of export markets. He emphasized how monetary policy alone cannot offset the damage from trade disruptions. He warned Canadians must act decisively this time, learning from past missed opportunities for diversification.
| | |
Municipal News
UBCM Passes Priority Resolutions on Housing, Policing and Libraries
| | |
During the first resolutions session at the Union of B.C. Municipalities (UBCM) annual meeting, members passed three priority resolutions urging the provincial government to take action on homelessness, police agreements and library funding. The first resolution calls for a coordinated regional approach to homelessness, addressing gaps in shelters and supportive housing across communities.
The second resolution emphasizes the importance of consulting municipalities during negotiations for the next RCMP Police Services Agreement, particularly as rising policing costs place pressure on local budgets. The third resolution seeks increased provincial funding for libraries, from $14 million to $30 million annually. Discussion of additional resolutions is set to continue in the coming days.
| | |
Did You Know?
-
Since May 2025, the number of job applications received from U.S. health-care workers to B.C. has doubled to more than 1,400 and more than 140 qualified U.S. doctors, nurses, nurse practitioners and allied health professionals have accepted job offers. - Provincial Government
| |
SIPP Board Director Tony Payne on Driving Innovation and Collaboration in Greater Victoria | | |
As part of our Q&A series with SIPP Board Directors, Tony Payne shares his journey to Greater Victoria. He arrived in 2020 to lead technology and innovation at BCI, one of Canada’s largest institutional investors. Tony was drawn by the opportunity to position BCI as a global technology leader while leveraging Greater Victoria’s unique mix of natural assets, innovation ecosystem and collaborative business community.
For Tony, SIPP plays a critical role in fostering collaboration between municipalities, industry and Indigenous communities, while helping Greater Victoria compete on a global stage and staying true to its local values.
| |
B.C. Ocean Tech Innovators to Compete for $10K at COAST Pitchfest | | |
Pitchfest is back, bringing BC’s ocean tech innovators together to compete, showcase and scale their ideas. Hosted by the SIPP initiative COAST at the Ocean Innovation Hub in Victoria on October 29, the event targets early-stage entrepreneurs across the province. Finalists will compete for a $10,000 cash prize sponsored by Seaspan and Innovate BC, plus upgraded COAST Memberships to strengthen their networks and support commercialization.
With the deadline to apply on October 15, COAST is calling on innovators in maritime decarbonization, autonomous vessel systems and any sector that supports the sustainable ocean economy to get involved.
| | |
What We're Working On
-
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. Check out the Summer 2025 photo update! - Victoria Rising Toolkit
| | 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.
| | |
New Report Focuses on Turning Economic Possibility into Prosperity
| | |
💰 Victoria tourism industry sees best season in 10 years - Times Colonist
| | Follow Us On Our Social Media Channels to Learn More! | |
| Let us know your views on this week's newsletter and what stories you want to see! | | | | | | |
