Official Community Plan - 10.0 Economic Development

10.0 Economic Development

10.1 CONTEXT

A strong and diverse local economy is essential to View Royal’s long-term resilience. New and existing businesses provide employment opportunities to residents of both the Town and the broader region. These businesses also provide the community with key services that are necessary for everyday life. The Town is aiming to collaborate with Destination Greater Victoria, West Shore Chamber of Commerce, Xʷsepsəm and Songhees Nations, local businesses, recreation providers, and the broader community to understand what is possible for the local economy and to leverage View Royal’s full economic potential.

View Royal has significant potential to become a regional economic hub – it has many existing conditions and assets that contribute to a strong local economy, and that can be leveraged further to grow the economic standing of the Town. This includes its central location within the Capital Regional District and prime access to major transportation routes such as the Trans-Canada Highway, the regional Island Highway, the Galloping Goose Regional Trail, and the E & N Rail Trail, as well as high-quality local parks and proximity to significant regional parks like Thetis Lake. In addition, View Royal is home to Victoria General Hospital, which has plans for future growth and expansion, as expressed by Island Health. Further, the lands surrounding the hospital have been designated by the Province as a transit-oriented area that will support the greatest density in the community and future increased levels of transit service. Such conditions may support growth in both the tourism and health services sectors, amongst others, resulting in strong demand for commercial tourist accommodations.

Part Two - Land Use aims to establish further conditions that will support new and existing businesses in View Royal by supporting higher density forms of development in areas that are close to existing or planned transit services and active transportation infrastructure. Concentrating populations will allow for a stronger client base for new and existing businesses, leading to greater economic vitality, and in turn, provide residents with access to the services they need within close proximity to their home.

The objectives and policies in this section aim to support economic development in View Royal by attracting new investment in the community and supporting existing businesses.

10.2 OBJECTIVES

The following Official Community Plan Goals may be achieved through the objectives and policy direction provided in this section:

• Economic Development
• Regional Partnerships

10.2.1 LOCAL INVESTMENT AND ECONOMIC GROWTH Continue to create conditions that attract local investment and economic growth in the Town, particularly within the Town’s higher density land use designations, as discussed in Section 5.0 and shown on Map 1, including the Hospital Transit-Oriented Area, Neighbourhood Village, and Western Gateway Employment District Corridor.

10.2.2 CREATING A DESTINATION COMMUNITY Support development and local investments that make View Royal more than a drive-through community, but a destination that provides unique and interesting local and regional tourist destinations for visitors.

10.2.3 CAPITALIZE ON REGIONAL CONNECTIONS Explore, identify, and capitalize on opportunities that strengthen the community’s central location as a gateway to the West Shore and the Greater Victoria area, to attract and support entrepreneurs, the health sector, new businesses, and arts and culture.

10.2.4 SUPPORT FOR LOCAL BUSINESS Understand and support the changing needs of local businesses to create a supportive and economically viable market to thrive in the long-term. Consider the needs of traditional fixed businesses and flexible business models, such as farmers, artisans, and mobile vendors.

10.2.5 INVEST IN COMMUNITY HEALTH AND WELL-BEING Recognize and explore the complex relationship between community health and well-being, and the local economy. Consider opportunities to expand the health industry and increase access to local health services and locally grown food sources.

10.2.6 RECREATIONAL TOURISM Consider opportunities to support recreational tourism and economic development that capitalize on the Town’s parks and trails and proximity to regional recreational amenities. Focus on attracting hotel development in the Town to support leisure and business travel.

10.2.7 PARTNERSHIPS Create strong, dynamic partnerships with Xʷsepsəm and Songhees Nations, the business community and related organizations, educational institutions, BC Transit, and regional and provincial governments to drive economic development, foster innovation, and attract transformative investment opportunities to establish View Royal as a thriving economic hub.

10.3 POLICIES

10.3.1 STRENGTHENING THE LOCAL ECONOMY

A. Engage Xʷsepsəm and Songhees Nations, South Island Prosperity Partnership, Capital Regional District, neighbouring municipalities, the local business community, and related stakeholders to identify the economic vision for View Royal and the broader community as an important regional player.

B. Explore economic development partnerships with Xʷsepsəm and Songhees Nations that further advance sustainable initiatives and economic prosperity, remove barriers, and are mutually beneficial.

C. Continue to collaborate with Destination Greater Victoria to attract hotel and business investment, leverage the Town’s existing assets, and support and market View Royal as a tourist destination within the region.

D. Collaborate with the West Shore Chamber of Commerce to identify opportunities to better support new and existing businesses, and expand economic development opportunities within the Town.

E. Identify opportunities for economic innovation, attracting and retaining new business, and stimulating new investment to advance the Town’s commitment to creating a more diverse, equitable, and inclusive community.

F. Leverage View Royal’s existing community assets and destinations, including Portage Park, Thetis Lake Regional Park, the Galloping Goose and E & N trails, Victoria General Hospital and medical services, as well as the Town’s regional location along the Trans-Canada Highway, its proximity to the West Shore, and regional destinations such as Royal Roads University, to generate new economic and tourism opportunities for View Royal and the broader region.

G. Explore opportunities for expanding the health services industry throughout View Royal, but particularly in the area surrounding Victoria General Hospital, to create a medical services hub through the provision of medical offices, pharmacies, research labs, and related services.

H. Continue to liaise with the local business community to understand how the Town can better support local businesses, and strategically respond to emerging business sectors in the region.

I. Identify opportunities to streamline processing times for business licenses, particularly for small or locally owned businesses.

J. Concentrate growth and economic investment along the Town’s corridors as shown on Map 3, while leveraging transportation infrastructure improvements to drive job and housing creation, and improve accessibility.

K. Understand the economic and land use conditions necessary to support the viability of light industry and similar employment uses on lands designated as Western Gateway Employment District Corridor, as shown on Map 1, to identify what action the Town can take to facilitate these conditions, given the benefits that light industry will generate for the local economy, such as a diversified tax base and living wages for residents.

L. Explore opportunities and partnerships to attract hotel development and other accommodation uses to View Royal.