|
|
ECONOMIC DEVELOPMENT ENEWSLETTER
|
|
|
|
Keep a finger on Prince George's economic pulse. Read our quarterly Economic Development eNewsletter to learn about:
- New businesses joining the community.
- New and exciting developments and programs in the community.
- Important information about the latest economic issues, trends, and topics.
|
|
|
|
COVID-19 RESOURCES FOR YOUR BUSINESS
|
|
|
|
We’ve compiled a list of resources available to help you navigate the impacts of COVID-19 on your business in a central location on our website. Resources range from Federal and Provincial supports to banking and insurance. If you would like to speak with a member of the Economic Development team contact 250-561-7633 or
ecdev@princegeorge.ca.
|
|
|
|
ACCESS LOANS TO COVER NON-DEFERRABLE OPERATING EXPENSES
|
|
|
|
The Government of Canada has collaborated with Community Futures organizations to offer loans of up to $40,000 to small business owners through the rural stream of the Regional Relief and Recovery Fund (RRRF).
General Details:
- Maximum loan of $40,000;
- 0% interest until December 31, 2022;
- No principal payments until December 31, 2022;
- Principal repayments can be voluntarily made at any time without penalty;
- 25% up to a maximum of $10,000 in loan forgiveness is available, provided the outstanding balance is paid back by December 31, 2022;
- If any part of the balance is not paid by December 31, 2022, the remaining balance will be converted to a term loan effective January 1, 2023; and,
- The full balance must be repaid no later than December 31, 2025
The funds from this loan can only be used to pay non-deferrable operating expenses and can’t be used to pay expenses already supported through the Canada Emergency Wage Subsidy or the Canada Emergency Commercial Rent Assistance.
|
|
|
|
STAYCATION PACKAGES LAUNCHED IN SUPPORT OF TOURISM SECTOR
|
|
|
|
Four staycation packages have been launched via the Support PG campaign to encourage local and regional travel and drive traffic to Prince George businesses.
The packages include:
- The Mid-Week Camping Pack: A two night mid-week family staycation at Salmon Valley Campground, which includes a Birch and Boar camping pack and Rocky Mountain Chocolate Factory dessert.
- Love is in the Air: A flight of wine at the Northern Lights Estate Winery and a $50 gift certificate to the winery’s Bistro, along with an overnight stay at the Ramada Plaza by Wyndham Prince George.
- Girl’s Night Out: A private table-side wine tasting hosted by a Northern Lights Estate Winery guide and a Ploughman Platter for each guest. The evening is capped off by an overnight stay at the Ramada Plaza by Wyndham Prince George.
- Romantic Weekend Getaway: A one night stay at the Prestige Treasure Cove Resort, including a bottle of wine, two boxes of chocolates, a dozen roses, and a 1:00 pm check-out. A two hour limousine service can be added.
The Support PG team is always interested in adding staycation packages to their current offerings. Promotion of the packages is free to local businesses. To submit a package idea, email
info@supportpg.ca for further details.
|
|
|
|
ECONOMIC UPDATE - YEAR TO DATE - JUNE 2020
|
|
|
|
Local Economic Statistics
|
Every quarter, the
Economic Development Division
tracks year-to-date economic indicators to better understand the state of the Prince George economy.
This video highlights year-to-date economic indicators up to and including the end of June 2020. These statistics are gathered from a variety of sources, including Statistics Canada, BC Northern Real Estate Board, Canada Housing and Mortgage Corporation, City of Prince George, and the Prince George Airport Authority.
If there are statistics not included in this update that you are interested in seeing on a monthly basis, please send your request to
ecdev@princegeorge.ca
.
|
|
|
|
$10 MILLION INVESTMENT IN NEW PRINCE GEORGE POOL
|
|
|
|
Prince George’s largest infrastructure investment in a decade has attracted funding from the Federal and Provincial governments. The new downtown pool is attracting $10 million in funding and is being provided from the Community Culture and Recreation Infrastructure stream of the Investing in Canada (BC) Infrastructure Program.
Construction of this project which is budgeted at $35 million is estimated to create 290 direct jobs and an additional 300 indirect jobs.
|
|
|
|
BC CLEANTECH CLUSTER STRATEGY RELEASED
|
Economic Development Manager on advisory board for strategy
|
The Foresight Cleantech Accelerator Centre recently released a Cleantech Cluster Strategy report that outlines a made-in-BC strategy designed to position BC as a global centre for innovation, talent, and capital to scale cleantech innovation.
The report includes a matrix of BC technology competencies, gaps, competitive advantages and ecosystem players. It also reports on opportunities and recommendations for rapidly scaling clean technology and solving industry challenges related to achieving CleanBC goals.
The City of Prince George was pleased to contribute to this report’s findings by having Economic Development Manager, Melissa Barcellos sit on the advisory board. Barcellos drew on the knowledge she gained through the Economic Development Divison’s development of a cleantech cluster in Prince George to contribute to the report.
|
|
|
|
6ix Sigma started as a leap of faith for Jason Hamborg and with a lot of hard work and a supportive business community, resulted in an award winning full-service content production company.
Hamborg not only credits the support of other businesses, but also local residents who step up to make a shoot happen, and mentors he has established relationships with over the years for the company’s success.
|
|
|
|
Terry Thiara and Jas Raju are Prince George-based business partners who acquire companies that are poised for growth in sectors in which they are already invested.
They recently acquired Vanway Cabinets, a company that had been operating in Prince George for 35 years, and expanded the business to include kitchen counters after identifying a gap for them in the local market.
Find out how the community’s support of the company, now named Vanway Kitchens, has been integral to the company’s impressive growth in the first year of operation under its new business model.
|
|
|
|
WORKING INDEPENDENTLY, TOGETHER AT HUBSPACE
|
|
|
|
Opening in December of 2016, Hubspace welcomes innovators, inventors, creatives, and entrepreneurs to an affordable, centralized, downtown location focused on building businesses and community. Offering an array of workspace options from drop-in desks to fully furnished offices, Hubspace is filling the gap between home-based business and a full-on storefront location.
“Up until Hubspace opened, small business owners and entrepreneurs had only their own home, cafes, libraries, or other public spaces to meet and connect with clients. Hubspace offers a professional place to conduct business in the downtown core,” says Community Development Manager, Chris King.
An added benefit to working in a co-working space such as Hubspace is that it facilitates working around people who could add a new perspective to your own business. “It’s not uncommon for the people who work here in different fields to say to one another ‘What do you think about this?’ and get feedback from unexpected sources. It’s also led to coworkers with complementary skill sets working on projects and growing their companies together,” says King.
While the idea of shared office space and services was not a new one, this is the first one in Prince George to come with business coaching and mentoring. Hubspace is the program delivery partner for Innovate BC, a provincial crown corporation. The Venture Acceleration Program focuses on early stage entrepreneurs looking to get an idea off the ground, as well as established companies looking to commercialize an innovative product or service.
Under normal circumstances Hubspace is open from 9 am to 5 pm Monday to Thursday and from 9 am to 1 pm on Fridays, but during the COVID pandemic, they are currently only open to their tenants. Hubspace is available to the public by appointment. Give Chris a call at 236-432-0112 or send him an email at
chrisking@hubspace.ca if you're ready to take the next step in your business journey.
|
|
|
|
PRINCE GEORGE IN THE NEWS
|
|
|
|
My Prince George Now (July 9)
|
|
|
|
|
Prince George Citizen Now (July 8)
|
|
Prince George Matters (July 7)
|
|
|
|
My Prince George Now (July 3)
|
|
|
|
|
City of Prince George, 1100 Patricia Boulevard, Prince George, BC V2L 3V9
|
|
|
|
#cityofpg #investpg #moveuppg
|
|
|
|
|
|
