2016 Economic Scorecard Informs the Metro Vancouver Regional Prosperity Initiative
18 May 2016
The 2016 Economic Scorecard, released today by the Greater Vancouver Board of Trade and Conference Board of Canada, underscores the urgency to implement a more collaborative regional approach to resolving issues affecting the region’s prosperity like housing, affordability, transit and transportation. Work on such an approach is currently underway through the Metro Vancouver Regional Prosperity Initiative.
“We applaud both organizations for producing a seminal report that will undoubtedly inform collaborative efforts to implement a ‘made in Metro Vancouver’ solution to enhance regional prosperity for decades to come,” said Greg Moore, Chair of the Metro Vancouver Board.
“The 2016 Scorecard provides comprehensive analysis, and the Regional Prosperity Initiative is the vehicle to ensure a collaborative approach for improving the livability and competitiveness of the region,” he added.
On April 27, presidents and CEOs of businesses, industry, and professional, community, and academic organizations joined mayors from across our community at a Regional Prosperity Forum to address the major issues confronting businesses and residents. Almost 40 organizations signed a declaration at the forum of their commitment to improve and expand the prosperity of the Metro Vancouver region. These included Seaspan, the Port of Vancouver, Telus, UBC, DigiBC, BC Business Council, Surrey Board of Trade, and Greater Vancouver Board of Trade.
And on June 16, Metro Vancouver will host an inaugural Roundtable meeting to develop an effective organizational model for a public-private collaboration on regional prosperity.
One of the scorecard’s four conclusions is that going forward there must be “improved coordination and accountability of Greater Vancouver municipalities to ensure optimal decisions for and investments into our collective future”. Chair Moore noted that this is a key goal of the Regional Prosperity Initiative, and that the Metro Vancouver Board looks forward to working with business, community, and political leaders on these issues.
He said that for some time, business, community, and political leaders have understood the issues we must address to improve the competitiveness of Metro Vancouver in the global market, and to enhance the opportunities for businesses already located here to grow and thrive.
“Metro Vancouver, in collaboration with key stakeholders from the business and academic communities, launched the Regional Prosperity Initiative to ensure the creation of an effective model for a regional collaboration to address these issues,” he explained, adding that a successful regional approach must also engage the provincial and federal governments.
Inadequate public transit and road infrastructure, and poor housing affordability are among the top concerns noted in the Greater Vancouver Economic Scorecard. In November 2015, Metro Vancouver released the green paper, Framework for a Regional Prosperity Initiative in Metro Vancouver, to stimulate thinking and discussion on whether the prosperity of the region could be advanced through a multi-stakeholder regional collaboration that would go a long way to addressing the issues identified in the scorecard.
In the months ahead an interim Regional Prosperity Initiative Steering Committee will be developing a framework for regional collaboration. The Greater Vancouver Economic Scorecard will be invaluable to the implementation of the Metro Vancouver Regional Prosperity Initiative.