WATCH: Over the next two years, Metro Vancouver is on track to be one of the fastest-growing economies in Canada. John Hua reports.
Metro Vancouver is on track to be one of the fastest growing economies in Canada over the next two years, according to the Conference Board of Canada.
“It’s a good news story,” said Alan Arcand of the Conference Board of Canada for Vancouver. “We expect strong economic growth this year and next. In fact, it’s going to be one of the growth leaders in 2015.”
North Vancouver’s Seaspan expects to sign a federal contract to build non-combat ships. With work beginning in a couple of months and the possibility of even bigger contracts down the road, the company could be a good fit for the exodus of skilled workers.
Seaspan is expected to increase manufacturing by 4.8 per cent in Vancouver. More manufacturing means more jobs, which are supposed to increase 1.3 per cent this year.
The strong housing market is also part of the equation. New builds are expected to top 20,000 units in 2016, the first time in almost a decade.
A growing population and low dollar could also boost Vancouver’s economy.
In that time Seaspan hopes to ignite its production even further.
“Based on our federal contract, it’s going to be something to the tune of 5,000 jobs right here in the Lower Mainland,” said Seaspan CEO Jonathan Whitworth.
-with files from John Hua
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