As 2014 winds to a close, the business community was asked to look back on the year that was. For some, it was filled with promise. For others, the year brought significant change. The Times Colonist asked business leaders what they felt was the most important event their business or sector encountered in 2014, and what gift they would like to receive this holiday season.
• Randy Wright, Harbour Air
For Wright, the fall’s municipal election is the most important event of the year as it will shape the way business works with the city over the next four years. As for what he’d like to see under his tree this year, Wright shot for the stars. “Living on an Island, transportation is key to our economic health. Improvements to the Belleville terminal for the Coho and Clipper would be a wonderful gift to the Island and the province.”
• Jeff Warwick, CEO Cloverpoint
Warwick said 2014 was a year of validation for land management and mapping software company Cloverpoint. It was also a year in which the local tech sector planted a flag. “We got funded. Turns out those are the three words everyone hopes to hear. It’s a validation of many long days, weeks, and years committed to the purpose of our team’s existence,” he said.
Warwick said VIATeC establishing Fort Tectoria downtown should have huge benefits for the entire sector. “It will be the guiding light this burgeoning tech industry needs for years to come.”
And under the tree this year Warwick is hoping to see growth for Cloverpoint and real change for the region. “We pivoted this year from a research and development focus and spinning off a startup to strategic growth led by a new focus on building our sales and marketing,” he said. “I want a big box with growth wrapped in a bright red ribbon of profit.
“For Victoria, there was a regional changing of the political guard and what would be inspiring is some real political will to affect change and not doddle over issues like speed limit changes.”
• Jill Doucette,
founder Synergy Enterprises
“Synergy works with businesses in every sector, and when all sectors thrive, we do as well. Overall, we have seen positive economic drivers this past year in the tech community, tourism, and professional services. A big moment? For us it was launching the Vancouver Island Green Business Certification Program, which has worked to green 60 small businesses this year,” she said.
As far as gifts are concerned Doucette would like to see more government incentives to go green. “If Santa could say ‘now, it will be easier for all businesses to go carbon neutral, thanks to this incredible tax incentive’ that would be fabulous,” she said.
“I would also like an upcycling facility for intercepting waste such as burlap from coffee roasting, pallets and other materials, for entrepreneurs and artisans to innovate and turn this waste into new products. Also, a green business incubator downtown, for environmental service and product companies to learn how to access markets outside of Victoria.”
• Darrell Bryan,
president, Clipper Navigation
For Bryan and the Victoria Clipper, the hiring of Paul Nursey as the new CEO at Tourism Victoria was the most significant event of the year, but there was no question what he wanted under the tree or in his stocking this year. “Funding for a new consolidated terminal,” said Bryan, who has complained for years on the state of the Belleville Street Terminal, a gateway for more than 800,000 passengers each year.
• Darlene Hollstein
General manager The Bay Centre
Hollstein believes consumer behaviour was the most salient feature of 2014. “Rapidly changing consumer expectations of where, how and when to buy products are causing retailers to re-examine every part of their business models,” she said. “From Black Friday to the entrance of Target and other U.S. retailers to Canada, the Shop Local campaign movement and the resurgence of Canada Post due to online shopping, one thing is for certain, the face of Canadian retail is changing — and fast. But one message is clear: if you are not in e-commerce, you will be losing out.” Hollstein is hoping for a large helping of consumer confidence under the tree this year.
• Frank Bourree, Chemistry Consulting, chairman of the Greater Victoria Chamber of Commerce
Bourree also felt the changing of the guard with new leadership in Saanich and Victoria following the municipal elections in the fall was the most important event that will shape the business community, and he’s hoping that will lead nicely into a gift for the region. “The gift of meaningful collaboration — 99 municipal politicians working with the business community to fill the vacant storefronts downtown through effective economic development.”
• Casey Edge, executive director, Victoria Residential Builders Association
“The increase in single-family housing starts in 2014 for Victoria and urban centres throughout B.C. was significant this year, compared with 2013, when Victoria posted the third-lowest single- family starts in 40 years,” said Edge. “Employment is improving, and with continued low interest rates, stronger consumer confidence should emerge in 2015.” As for a gift, Edge is hoping for uniform interpretation of the B.C. Building Code. “It would be long overdue for builders and consumers. Uniform interpretation, enforced by the province, is common practice in Canada. B.C.’s system of municipal interpretations is an expensive, confusing and unnecessary anomaly.”
• Tim Ayres, president Victoria Real Estate Board
“The stable and low mortgage rates we saw over the course of 2014 positively affected the local and national real estate market. This is likely one of the big factors that contributed to the increase in sales of Victoria properties compared to last year,” said Ayres. “Another factor that may have brought more buyers and sellers into the market in 2014 may be that property values were reasonably flat over the year. The Victoria and area market was a good place to buy or sell in 2014.”
Ayres is aiming high with his wish list: “A gift I would love to give to property buyers and sellers is a change to the Property Transfer Tax. Indexing or eliminating the tax would remove one of the barriers to home ownership we see today because the PTT negatively affects the affordability of properties,” he said. “Currently the PTT charges a one per cent tax on the first $200,000 of a property’s fair market value, and two per cent on all remaining value. This adds up. I would love to see that one per cent threshold increased.”
• Saul Klein, dean of the Gustavson School of Business at UVic
“There are a couple of key developments that will have a significant impact going forward. First, the Supreme Court decisions around First Nations territorial rights is reshaping the whole resource development picture in Canada. It is very clear that First Nations are central players. We will see greatly increased consultation processes and significant shared benefit agreements,” he said. “The second development is falling oil prices. These will not only have a dramatic impact on government budgets, but also introduce major uncertainty into the economy. Falling oil prices are a mixed blessing. While they provide a major stimulus to consumer spending, they will also set back the case for alternative energy.”
As for a gift this season, Klein likes the idea of shifting perspective. “Change creates opportunity and the best gifts we could receive are an ability to see things differently, a capacity to act, and a sense of optimism,” he said.
• Bruce Carter, CEO,
Greater Victoria Chamber
“The most important event of the year was Point Hope Shipyards being able to purchase its property. This allows Point Hope to make long-term investments in its infrastructure and ensure the continuation of the marine industry and growth of associated household sustaining jobs,” he said. Carter also wants a new Belleville Street terminal under the tree this year. “We have been championing that project along with the operators and local stakeholders for years. It looks like we may achieve a deal and this will ensure we can maintain our important inner harbour connection to the Pacific Northwest.”
• Dan Gunn, VIATeC
It was a good year for the tech industry. “We bought a building to provide space for companies and events and got the results from our economic impact study and learned that the local tech sector has eclipsed $4 billion in economic impact from its $3.15 billion in revenues,” he said. As for a wish in the new year, Gunn said “more skilled workers moving to Victoria to get a great paying job with one of our 884 tech companies.”
• Rasool Rayani, president, Heart Pharmacy Group
The biggest event for Rayani was the re-branding of his family’s chain of pharmacies to Heart Pharmacy IDA. “Changing our name was the most challenging project we have ever undertaken. It has been exceptionally rewarding to connect with our community and customers and hear their positive feedback and support.” As for a gift, Rayani hopes to see the continued revitalization of the downtown core with innovative retail and eateries. Also, a more integrated and regional approach to serving residents who struggle with mental health problems.
• Mike Corrigan, CEO, B.C. Ferries
Corrigan believes the price of fuel and the Canadian dollar’s strength were key factors in 2014 and will continue to have a profound influence on B.C. Ferries in the new year. “[They] have a positive future outlook for increased traffic on the ferry system. This is due to reduced fares through elimination of the fuel surcharge, fall-off in prices at the pump and the attractiveness of British Columbia as a vacation destination for Americans because of a strong US dollar,” he said. As a gift, Corrigan is hoping for “another year of safe operations and a strong safety performance” from his fleet.
• Dallas Gislason, economic development officer GVDA
“[On] April 14, we announced the most significant economic development program this region has [ever] seen. Western Economic Diversification announced a $1.6-million program that will help us take Victoria to the world more aggressively and cohesively.” He is thinking transportation when it comes to gifts. “I believe that if Saint Nick were to drop an integrated multi-model transportation system on the region (including separated bike lanes and other ways to moving people fast, we would see an accelerated transformation toward happier, healthier and more economically productive citizens.”
