Nanaimo Economic Development Corporation
By Perry Mack
Many of us are at or near the stage in our lives where we are ready to scale back our careers and businesses - or have accumulated a pension and can ‘retire’ from our first career and move in to a second career - a second life. In discussions with other RV’ers, Nanaimo continually crept up as the place that many are choosing. Research seemed to bear this out, as the dominant age group is 45 to 49 years old for the City of Nanaimo, BC and Canada, while the Regional District of Nanaimo's (RDN) dominant age group is slightly older at 55 to 59. I put in a call to Peter McGee, Economic Development Coordinator at the Economic Development Commission (EDC) of Nanaimo to find out more. He said, ‘As the economic hub of Vancouver Island, Nanaimo has both a vibrant business community and exceptional quality of life.’ ‘But that’s pretty vague’, I replied. Give me the top 5 reasons why I would start my Second Life in Nanaimo.
Here are the top 5 reasons to move your career/business to Nanaimo
- Experienced Population
The Nanaimo area has a somewhat older population than the province or the country as a whole. The median age of Nanaimo residents in 2006 was 42.0, and 44.3 in the RDN, compared to 40.0 in the BC and 39.1 nationally.
- Booming Business Community
The Nanaimo region has been shifting from a commodity-based economy that traditionally relied on an abundance of natural resources in the forest and oceans, towards a service-based "knowledge" economy that relies on the skills and innovation of the local workforce. Nanaimo's positive population growth has continued to drive demand for new goods and services, and created opportunity for new business start-ups. As of November 30, 2011 home-based businesses accounted for about 36% of total business licenses issued. Many people choose to use their home as a "business incubator" to test their initial business ideas and later move into commercial space.
- Motivated Workforce
Nanaimo has a highly motivated, educated and well-trained workforce with diverse skills to meet the challenges of our changing economy. Nanaimo's workforce, business, industry and educators are working together to integrate business needs into the training system. Nanaimo's Labour force participation rate has been increasing over time ensuring adequate labour supply for many of the businesses, which operate in the region.
In 2012, the unemployment rate dropped to 5.0% from a rate of 12.1% in 2011, and an average of 8.5% between 2008 and 2011. This represents a positive shift in Nanaimo’s working population, and reflects the strong workforce that Nanaimo boasts.
- Transportation Hub of Vancouver Island
Nanaimo has a comprehensive transportation network designed to support and promote the growth of existing businesses and to facilitate the establishment of new operations. Nanaimo has a modern and efficient transportation network, with two airports, two ferry terminals, a recently enhanced highway system, and a public transit system. The city is easily accessible to the mainland by ferry, air, and to other Island destinations by road and by rail. Deep-sea shipping facilities are available through the Port of Nanaimo. Businesses have a range of options to access markets, customers and suppliers.
Nanaimo is situated directly on Vancouver Island's main highway, Highway 19, providing easy access to all major centres on Vancouver Island. Major investment in the island highway has reduced travel time between Nanaimo and other island communities. This has resulted in access to a larger market and workforce area, and has enhanced the city's role as a transportation and distribution hub for the central and North Island.
- Unbeatable Quality of Life!
Our "quality of life" is attracting skilled newcomers and entrepreneurs.
Nanaimo is a welcoming, friendly community of nearly 90,000 residents, offering extraordinary beauty, enviable lifestyle and first-rate infrastructure. Environment Canada consistently recognizes Nanaimo as one of the mildest climate regions in the nation, for the above-zero temperatures through fall and winter, and comfortably warm weather in spring and summer. People around the world are captivated by our oceans, mountains, clean air and our open trails that let you explore all that nature has to offer. The geographical center of spectacular Vancouver Island, Nanaimo is an affordable west coast harbour city where people come to visit and return to live and work.
In a nutshell he said, “Over 6,000 businesses have chosen to locate in Nanaimo to take advantage of our skilled and diversified workforce, quality infrastructure, and competitive cost structure. Nanaimo offers great investment opportunities. A stable investment environment, combined with exceptional local talent and a business-friendly attitude, provide the necessary ingredients for future success.”
If you are nearing the end of your current career, or want to take your business to a different level, either larger or scaled back, now is the best time to look west. Nanaimo could be right for your career or business, and the start of your Second Life!