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Solutions for Greater Victoria’s Economy Explored at Sidney Breakfast Club

SIPP AdminJune 12, 20252 min read

Thanks to the Sidney Breakfast Club and John Juricic for hosting SIPP’s Aaron Stone and Dallas Gislason this morning to discuss the work of the Rising Economy Taskforce to date, and to explore ideas for where Greater Victoria’s economy can go in the future! We were inspired by the lively conversation and unique insights into how we can collaborate as a region to address the current pressing challenges and build a more prosperous economy for all.

Photo Credit: Humaira Ahmed

Some ideas that attendees added to the conversation that morning included:

  • How regional orgs can help lift up our emerging workforce (particularly around housing affordability to access the economy via good transportation infrastructure.

  • The importance of capital and keeping Canadian businesses and capital deployed within our economy (rather than it leaking out to the US).

  • The role that foreign investment can play in growing strategic opportunities here, the issue of credentialization in the economy and particularly the need for labour mobility within and across Canada to make our economy more adaptive.

  • A.I. must be seen as both an opportunity and a risk (it’s essential that when we say “adoption”, we mean really how to use the tool to enhance productivity and competitiveness across the economy).
  • We need a culture of “yes” that supports entrepreneurs and risk-taking – from informal networks and peers-helping-peers, to formal financial and business service that nurtures entrepreneurs through stages rather than leaving them high and dry.

  • The importance of “wage growth” to go along with economic opportunities (we can’t attract and retain our young people and young families without meaningful careers and the possibility to earn good incomes).

  • Other items such as succession tools for aging/retiring businesses, the acknowledgement that the economy must contribute to a clean environment and adapt/mitigate climate change and food security issues, the importance of growing and having access to good quality food in the region, and much more. It was a lively discussion!