Skip to main content
Search
VEC - Vancouver Economic Commission
  • Vancouver’s Economy
    • Vancouver’s Economy »
    • Economic SnapshotKey metrics and indicators
    • Key IndustriesEstablished and emerging sectors
    • Competitive AdvantagesWhat makes Vancouver unique?
    • Economic ReconciliationA city of reconciliation
    • Living in VancouverWhy choose Vancouver?
    • Working in VancouverTransform your career
  • Programs
    • All Programs »
    • Economic Transformation LabA research think-tank
    • Angels for Climate SolutionsStartup and investor training program
    • Project GreenlightTechnology pilot program
    • Zero Emission TransitionEconomic action plan
    • Circular Economy NetworkSeries of six free events
    • Digital Innovation and Leadership (DIAL)Digital transformation training
  • Research
    • All Research »
    • Vancouver Economy ReportSpring 2023
    • Beyond GDPA new framework for Vancouver
    • Carbon Markets in BCA guide to carbon markets
    • The Just TransitionOverview & best practices
    • A Just Circular Economy of FoodA “Right to Food” Framework
    • Cross-Border Investment GuideHow to invest in Vancouver
  • How Can We Help?
    • How Can We Help? »
    • Request DataEconomic and sector statistics
    • Relocate your businessWhere to start
    • Business Growth SupportMaking Connections
  • About Us
    • About Us »
    • Our Purpose
    • Meet the Team
    • Board of Directors
    • Advisory Board
    • Careers
    • Communication Preferences
  • Media
  • Events
  • Blog

Industrial Insights Research

Understanding Industrial Trends, Challenges, and Opportunities

INDUSTRIAL INSIGHTS Research Understanding Industrial Trends, Challenges, and Opportunities in Vancouver | Vancouver Economic Commission

Myth: Industrial Business is being phased out — the future is tech

Today, Vancouver’s industrial businesses face increasing pressures. Many are at risk of being displaced from the city as the cost of doing business increases, the availability of industrial operating space diminishes, and finding and retaining qualified staff gets more difficult.

Industrial businesses form an important economic infrastructure that underpins all of our economic sectors while contributing to the overall economic resilience of Vancouver. Industrial businesses not only generate jobs and wealth, they also play a significant role in the social, environmental, and cultural well-being of the community. As part of our work to better understand and serve industrial businesses, the Vancouver Economic Commission conducted a citywide survey, and interviewed dozens of industry supporters.

 

Key Insights from our Research on Industrial Businesses

  • Contrary to popular belief, the majority of industrial businesses in Vancouver are less than 20 years old, have been in their current space less than five years, and anticipate expanding in the in the next two years.
  • Several trends are impacting demands on industrial space in Vancouver, including an increase in global demand for local goods & services, relocalization of supply chains & manufacturing, and new technologies for industrial operations.
  • The biggest challenges faced by industrial businesses include: rising costs of doing business (taxes, fuel, wages, permitting & licensing fees); finding and retaining qualified staff; and finding appropriate and affordable operating spaces.

 

What’s at Stake for the Local Economy

If we don’t address the challenges facing industrial operators up to 50% of industrial businesses could be displaced from the city in the next 5 years, taking with them 30,000 jobs, $3.6 billion in annual revenues, and $1.2 billion in annual wages. Furthermore, the cost of goods and services in the city will rise as services move further from the urban core and traffic congestion and GHG emissions in the region will worsen. Finally, we could lose a variety employment opportunities, such as middle-income jobs requiring diverse educational backgrounds and jobs with lower barriers to entry.
 

Research

Industrial Insights Research 2018

Understanding Opportunities & Risks Faced By Local Industrial Businesses
 
Author: Pietra Basilij
Published: June 27, 2018
 
Download the Report

Service

Industrial Concierge Service

Supporting Space Sharing Among Industrial Startups
 
Our Concierge helps address industrial space challenges in Vancouver by connecting business looking to to share space, equipment and resources.
 
Learn More

 

Partners

This research is made possible by the support of our partners.

Vancouver Economic Commission with Community Partners: Strathcona Business Improvement Association, Hastings North Business Improvement Association (also goes by East Village); BC Alliance for Manufacturing; Real Estate Foundation of BC; City of Vancouver; Spacelist.ca; Urban Logiq

Related Content

See Our Resources
  • Research | Entrepreneurship & Industry Support, Resilience

    Resilient Future Economy

  • Research | Green Economy, High Impact Investment, Capital

    Green Buildings Market Research

  • Twitter
  • LinkedIn
  • Facebook
  • Instagram
  • YouTube

General Contact

  • Phone: +1 604-632-9668
  • Toll Free: +1-866-632-9668
  • Email us
  • 500-555 W 8th Avenue
    Vancouver, British Columbia
    V5Z 1C6
Events
  • Angels for Climate Solutions: Pitch Finale
  • Angels for Climate Solutions Top 15 Pitch Night (2023)
  • Future-proofing Vancouver: Food Security beyond Food Surplus

View all events

Sign up for VEC’s newsletter!

We respect your privacy. Your email will never be shared.

VEC respectfully acknowledges that it is located on the unceded ancestral territories of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səl̓ilwətaɁɬ / sel̓íl̓witulh (Tsleil-Waututh) Nations.

© 2023 Vancouver Economic Commission


  • Communication Preferences
  • Terms of Use
  • Privacy Policy
Vancouver Economic Commission