Presentation
Rising Economy 2030: Activities, Outputs & Outcomes
Detailed presentation document from SIPP outlining their vision and key performance indicators for a resilient regional economy by 2030.
Published October 7, 2025Vision: Resilient, Inclusive, Sustainable and Entrepreneurial (RISE)
Rising Economy 2030: Activities, Outputs & Outcomes
Published October 7, 2025
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Rising Economy 2030: Activities, Outputs & Outcomes
Each element of Rising Economy 2030 reflects the RISE vision for Greater Victoria — a region that is Resilient, Inclusive, Sustainable and Entrepreneurial. As part of the overall Rising Economy 2030 plan, this document provides an overview of the activities, outputs, and outcomes designed to bring that plan to life — from short-term actions that build immediate momentum to long-term goals that shape a thriving, future-ready regional economy.
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Section 1: Resilient Economy
Steering the Region Toward....
...a Resilient Economy that is less vulnerable to outside forces such as recessions or tariffs. This means that businesses and community leaders make deliberate efforts to diversify the economy, reduce dependency on a single major industry, and help firms (especially export-oriented firms) bring wealth into the region by becoming more competitive in their respective markets.
How Will We Know if We’re on Track?
Key Performance Indicators (KPIs):
- Engagement (attendance at Rising Economy events)
of new initiatives and collaborations emerging
- SIPP accolades from review bodies and peers
of active members in the COAST ocean and marine ecosystem (across types)
of new SMEs in sectors of strength (ocean and marine)
of new SMEs in emerging sectors (e.g. Life Sciences)
of farm ventures that have successfully changed hands
of SMEs implemented competitiveness tools
of partners and local governments engaged in competitiveness improvements
(especially export-oriented firms) bring wealth into the region by becoming more competitive in their respective markets.
| Activity / Key Initiatives | Output (5-Year Goals) | Outcome (10-15 year Future State) |
|---|---|---|
| Responsive Leaders | Responsive Leaders | Responsive Leaders |
| Community Leaders: SIPP will build upon the annual Local Leadership Forum as a vehicle for collaboration, exploration of cross-sectoral solutions and building leadership capacity to respond and sustain efforts. Business Leaders: SIPP will grow the annual Rising Economy Conference to engage more business leaders each year in the top issues facing our economy and its future. Thought Leadership: SIPP will lead research, form research partnerships and gather/analyze data and intelligence that helps our region and its leaders make informed decisions and strategies. |
Local Leadership Forum • Real projects and initiatives are taking shape as a result of the forum. • 95-120 leaders are engaged each year, providing positive feedback on the value and direction of the event. Rising Economy Conference • Over 200 leaders attend the conference each year, engaging with the content through active participation and positive feedback. • The conference is an annual showcase of successful makers, entrepreneurs and innovators who inspire others. Thought Leadership • SIPP’s research gains media coverage, downloads from across the region and wins national and international recognition for its quality and approach. |
Greater Victoria and its 13 municipalities are known for their collaborative approaches, inter- and multi-jurisdictional leadership and engaging the private and third sectors in creative ways. Leaders across the public, private, and third sectors tackle issues head-on through conviction, collaboration, and coordinated actions, adopting an abundance mindset where solutions are possible. There are case studies and real-world study tours coming here to learn about the approaches that Greater Victoria takes to building its economy and enhancing the quality of life for residents through a cross-sectoral, multijurisdictional collaborative effort. |
| Diversified Economy | Diversified Economy | Diversified Economy |
| Grow Sectors of Strength: Implement the next 5-year growth phase for B.C.’s ocean and marine technology and innovation cluster based in Greater Victoria (COAST) within the following key strategic sectors: • Marine Energy & Decarbonization • Marine Autonomy and Domain Awareness • Ocean Data • Blue Bioresources Grow Emerging Sectors: Develop a strategic response to Greater Victoria’s Life Sciences and Health sector opportunities. Solidify At-Risk Sectors: Develop a Regional Agriculture Economic Development Strategy and explore priority initiatives and actions. |
COAST 5-Year Targets: • 15 ocean and marine companies based in Greater Victoria commercialize their technology/innovation • Support the growth of 1,500 blue economy careers, either through new workers or upskilling to increase their income potential • 10 new companies relocate or move divisions to Greater Victoria as a result of COAST’s offerings and ecosystem development Life Sciences & Health Establish a facility (laboratory, wet lab, bio-manufacturing) that supports the creation of 8-10 new ventures. Agriculture Economy in 5 Years Established and new farmers have access to new tools that facilitate succession transactions and keep productive land in operation. |
Greater Victoria (and B.C.) is recognized as a global leader in ocean innovation and home to new ocean and marine companies that are future employers. Life Sciences and Health companies are established here and attracting world-class talent and investment to the region. Numerous farms have successfully changed hands to new generations of farmers due to financing options and a robust, supportive ecosystem and policy environment. |
| Competitive Economy | Competitive Economy | Competitive Economy |
| Enhance Firm-Level Competitiveness: SIPP collaborates with local leaders to help manufacturers and makers implement lean process improvements, enabling them to better compete in both domestic and international markets. Examine Greater Victoria Regional Competitiveness: SIPP works with economic development offices and all orders of government to assess and improve the region as a place to build in the maker economy and determine key actions for improvement. |
Manufacturing (Firm-Level): Approximately 20 to 30 SMEs have implemented Lean Process Improvement (or an equivalent approach) to become more efficient and cost-competitive. Regional Competitiveness • CRD implements an Employment Lands initiative as part of regional planning and the Regional Growth Strategy (RGS). • 5 municipalities, along with Camosun College, are active partners in alignment with the value proposition for makers. • The network of active makers has grown by 15-20% |
Due to the facilities, programs and support from SIPP and other partners, such as VIATEC, Camosun College and the Vancouver Island Manufacturing Excellence Alliance, Greater Victoria is known for its unique ecosystem of niche manufacturers and makers that have scaled into domestic and international markets. |
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Section 2: Inclusive Economy
Steering the Region Toward....
...an Inclusive Economy that works for more people. Examples of success include:
- a narrowing wealth divide demonstrated by an improving Gini Coefficient
- more local ownership across business asset types
- stabilizing commercial rents
- more locally owned businesses
- more Indigenous-owned businesses
- more young people are able to stay in the region post-graduation
How Will We Know if We’re on Track?
Key Performance Indicators (KPIs):
of youth attending conferences and IPC events
- % of youth in leadership roles (advisory councils, ambassadors, conference planning)
- $ raised annually by the charitable organization to support youth (scholarships, training, athletics)
of Indigenous businesses in the South Island Indigenous Business Directory
of procurement opportunities awarded to Indigenous enterprises
of formal partnerships established with institutional buyers (local government, post-secondary, transportation, tourism)
of newcomer business prospects engaged in programs
of successful transactions facilitated for retiring business owners
- $ raised for the Community Wealth Model
of active partners in the Community Wealth Model & positive feedback received
| Activity / Key Initiatives | Output (5-Year Goals) | Outcome (10-15 year Future State) |
|---|---|---|
| Indigenous Economy | Indigenous Economy | Indigenous Economy |
| Build the Next Generation of Indigenous Leaders: IPC will expand the Indigenous Youth Conference as a launchpad for leadership, entrepreneurship, and career pathways, rooted in culture and community. Through a new charitable arm, IPC will raise funds for scholarships, training, athletics and mentorship, helping to remove barriers and create equitable access to opportunities that build confidence and future prosperity. Build Pathways into Key Sectors of the Economy: IPC will expand immersive learning experiences through the Blue Economy Day Camp and a new Indigenous Land Stewardship Camp. These programs honour connections to land and water while opening career pathways that weave traditional knowledge with modern opportunities. Strengthen Indigenous Entrepreneurship: IPC will support and work to expand the South Island Indigenous Business Directory which increases visibility and market access for entrepreneurs. The directory will serve as a platform for connection, opportunity and entrepreneurial growth across the region. Procurement as a Tool: IPC will champion procurement policies and practices that open doors for Nation-owned and Indigenous-led businesses. By partnering with local governments, institutions, and larger-scale buyers, IPC will help create stable contracts, foster new partnerships, and strengthen Indigenous supply chains. |
Indigenous Youth • 250+ youth are engaged annually through IPC programs, including the Youth Conference, Blue Economy Day Camp and Indigenous Land Stewardship Camp. • 10-15% of youth take on leadership roles each year, with an Indigenous Youth Advisory Council established by Year 3 and a charitable arm raising $50,000 annually to provide 20+ scholarships and supports. Indigenous Entrepreneurs • The South Island Indigenous Business Directory grows from 128 to 200+ businesses by Year 5. Procurement • The South Island Indigenous Business Directory connects Indigenous businesses to 25+ procurement opportunities each year across corporate, institutional and government buyers. • An Island-wide Indigenous procurement supply chain emerges, with at least 5 new partnerships secured in tourism, transportation, education and other sectors. |
Indigenous youth across South Island Nations are engaged in shaping the economy on their own terms through education, training, entrepreneurship and innovation. Nation-owned and Indigenous-led businesses are creating generational and community wealth that strengthens self-determination and reflects Indigenous values and relationships to land and water. Indigenous-led prosperity is recognized as foundational to the region, with success measured by community well-being, cultural continuity and the ability of Indigenous peoples to thrive across generations. |
| Welcoming Economy | Welcoming Economy | Welcoming Economy |
| Business Community Continuity: Through an MOU with the Inter-Cultural Association of Greater Victoria (ICA) and other partners, develop a collaborative agenda or interconnected program(s) to support newcomer business owners for the purpose of succession transactions and business continuity. | 100 prospective newcomer business owners have engaged with programs designed to match them with opportunities and increase their readiness levels. Over 50 “retiring” business owners have engaged with the program to explore the opportunities of succession transactions with newcomer owner prospects. |
Greater Victoria is known as a supportive, welcoming place to start or buy a business for newcomers. Newcomers are supported, nurtured and celebrated for their investment in the region. Over time, Greater Victoria’s business community becomes more diverse, while maintaining its cohesiveness and supportive culture. |
| Equitable Economy | Equitable Economy | Equitable Economy |
| Wealth Retention Through Ownership: To reduce the leakage due to non-local ownership of commercial real estate, as well as to help stabilize rents for vulnerable small business tenants, SIPP will champion the creation of a new Community Wealth Model. | One or more Community Wealth Model(s) are established in the region to test the model and demonstrate the parameters needed in order to scale more projects across the region and beyond. Parameters such as building economics (cap rates, economies of scale, rent levels relative to market, etc.) and availability of financial “patient capital” partners. | More local ownership in the economy reduces economic leakage (i.e. retains local wealth), improves wealth distribution (i.e. increases equity to more people) and gives business and non-profit tenants more certainty and stability as leases expire or reach renewal. |
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Section 3: Sustainable Economy
Steering the Region Toward....
...a Sustainable Economy that takes a multi-generational approach to stewardship of resources, where the environment (and climate) left in our wake is better than when we found it. Achieving this in reality requires long-term, sustained efforts and resources.
How Will We Know if We’re on Track?
Key Performance Indicators (KPIs):
of demonstration projects initiated to develop, test and showcase clean technologies
of movements of the demonstration projects from the initiation state to Technology Readiness Level (TRL) 8 or 9
of Clean energy projects that show potential for GHG reductions
- SIPP membership retention rate
| Activity / Key Initiatives | Output (5-Year Goals) | Outcome (10-15 year Future State) |
|---|---|---|
| Clean Economy | Clean Economy | Clean Economy |
| Grow Marine Energy and Decarbonization Opportunities: Through COAST, grow the BC Marine Energy and Decarbonization Hub (in partnership with UVic and the Accelerating Community Energy Transformation-ACET initiative) to include multiple demonstration programs and projects that lead to new innovations and products for Greater Victoria SMEs | Attain the following through COAST’s BC Marine Energy and Decarbonization Hub: • 4 major innovation projects with industry and/or community partners that enable technology development and testing for up to 30 technology developers • Pave the way for the development of 2 megawatts (MW) of renewable energy for industry partners • Contribute to the commercialization of 5 clean technologies through involvement with the Hub. |
Greater Victoria is a major hub for CleanTech and renewable energy innovations with numerous startups, SMEs and scientific endeavours that enrich the ecosystem and create clean jobs that solve 21st-century problems. |
| Environmental Stewardship | Environmental Stewardship | Environmental Stewardship |
| Reduce Waste in the Economy: Develop a Circular Economy initiative that aligns deconstruction/demolition policies across jurisdictions. | 8 municipalities (in Greater Victoria) have adopted Circular Economy policies in alignment with goals. | There’s a growing portfolio of clean building projects and solutions, as well as Circular Economy startups and progressive builders who embrace new ways of repurposing building materials and keeping waste out of landfills. |
| Sustainable Economic Development Model | Sustainable Economic Development Model | Sustainable Economic Development Model |
| Nurture SIPP for the long term: Through its affordable, equitable and effective operational model, SIPP is able to make sustained efforts to transform Greater Victoria’s economy over time. | SIPP’s model attracts a steady group of public, private, and third-sector stakeholders and retains them as partners over the long term, with a retention rate of 85% or higher. | Greater Victoria is known for its collaborative, progressive, inclusive approach to economic development, where all 13 municipalities and 9 First Nations work collaboratively in general and on specific initiatives. |
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Section 4: Entrepreneurial Economy
Steering the Region Toward....
...an Entrepreneurial Economy where businesses are nurtured and supported across sizes and types, and people across age cohorts and backgrounds are starting and growing entrepreneurial ventures throughout the metropolitan region. New innovations are emerging from scientific endeavours and establishing themselves here. All orders of government are making progress on regulatory modernization and process improvements, opening up an “ease of doing business” landscape.
How Will We Know if We’re on Track?
Key Performance Indicators (KPIs):
- Engagement (attendance at Rising Economy events)
of new initiatives and collaborations emerging
- SIPP accolades from review bodies and peers
of active members in the COAST ocean and marine ecosystem (across types)
of new SMEs in sectors of strength (ocean and marine)
of new SMEs in emerging sectors (e.g. Life Sciences)
of farm ventures that have successfully changed hands
of SMEs implemented competitiveness tools
of partners and local governments engaged in competitiveness improvements
(especially export-oriented firms) bring wealth into the region by becoming more competitive in their respective markets.
| Activity / Key Initiatives | Output (5-Year Goals) | Outcome (10-15 year Future State) |
|---|---|---|
| Culture of Possibility | Culture of Possibility | Culture of Possibility |
| Nurture Greater Victoria Culture Change: Through the launch and stewardship of The Greater Victoria Possibility Charter, SIPP will move the region toward a more opportunity-rich and entrepreneurial culture. | • Through the momentum driven by the Greater Victoria Possibility Charter, over 200 signatories have helped shift the narrative about our region as a place of opportunities. • 8 Local Governments are confirmed as signatories; several have showcased their regulatory and process improvements through storytelling platforms linked to the Charter. • Schools and post-secondaries have used The Possibility Charter to encourage graduates to explore local co-op and career placements that help keep more of them in the region after graduation. |
Greater Victoria is a place where innovators and entrepreneurs come to nurture their ideas and ventures. From scientific spin-offs and tech-driven startups to mainstreet businesses and lifestyle entrepreneurs, the region is a hub of creative spirit and 21st-century problem-solving. We are Open for Business. As a result, more young people and mid-career workers can stay here to grow their careers within these new ventures. |
| Innovative Economy | Innovative Economy | |
| Grow Ocean and Marine Innovation: SIPP will nurture innovation and innovative startups and SMEs primarily through its COAST initiative focused on ocean and marine technologies. This includes programs such as Venture in Blue, which includes Blue Action Canada — Canada’s first dedicated blue economy accelerator. COAST will create a robust ecosystem of blue economy SMEs in Greater Victoria and beyond, who are aided by COAST’s wraparound supports, including its co-working facilities and the Blue Pathways Initiative. | Through COAST, SMEs across sectors receive support to: • Engage 80 companies to participate in the Blue Action Canada accelerator • Attract over $250 million in investment in the B.C. blue economy sector through building connections and programs between investors and entrepreneurs. • Build the COAST membership network to include 200+ SMEs active in the ecosystem. |
|
| Mainstreet Economy | Mainstreet Economy | |
| Local Business Success: SIPP will collaborate with municipalities (and their economic development offices) to develop an enhanced toolbox for small businesses, providing support with financing, technology adoption, succession planning and ownership models. This will include the development of collaborative data intelligence to support business- and municipal-aligned decision-making regarding economic development. | SMEs in 5+ municipalities are utilizing financial and data tools to help them assess new expansion opportunities, aid in succession planning, and make informed decisions regarding lease agreements and ownership models. 50 SMEs have participated in AI and tech-adoption programs championed by SIPP. |
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Extracted from: 2026 04 21 Council Meeting - Agenda - Pdf(124 pages total)