Fostering local production is B.C.’s path to economic resilience

For Immediate Release

VANCOUVER, B.C. — The Greater Vancouver Board of Trade (GVBOT) has released Building B.C.'s Economy: Fostering More Local Production, a new report calling for modernized industrial land policy to unlock the full potential of B.C.’s manufacturing and agri-food sectors and maximize trade through our ports.

“B.C. has all the ingredients to become a resilient and successful local producer and a competitive global exporter, but we need a plan to land the investment,” said Bridgitte Anderson, President and CEO of the Greater Vancouver Board of Trade. “Well-paying local jobs, food security, and a thriving local economy are within reach, but outdated regulations and a chronic industrial land shortage are holding us back.”

Despite broad political consensus on the need to diversify trade and strengthen local production, British Columbia still lacks a concrete plan to make that vision a reality. Success requires more than ambition, it demands a coordinated industrial strategy backed by available land, infrastructure, and policies to attract investment and scale production.

In the absence of such a plan, B.C. companies that find success are often forced to expand elsewhere. Our current land use framework effectively penalizes growth by limiting space and deterring long-term investment. Without industrial land, we are exporting opportunity and growth elsewhere and undermining our own resilience.

From 2019 to 2023, over 5 million square feet of industrial investment were diverted to Calgary from Metro Vancouver due to limited land supply and regulatory barriers. The result: thousands of lost jobs and nearly $500 million in lost GDP. Expanding industrial land supply by just 1% could support 126,100 new jobs and contribute $12.2 billion to B.C.’s GDP.

One of the most pressing regulatory barriers is the provincial “50-50 Rule,” which restricts food processors to sourcing at least half their inputs from the same farm they are processing on. This severely limits year-round operations, deters investment, and stifles innovation.

The report puts forward five recommendations:

1. Legislate clear timelines for provincial permitting decisions affecting local development.
2. Work collaboratively with municipalities to make more industrial and trade-enabling land available for development.
3. Eliminate the 50/50 Rule to enable scalable, year-round agricultural processing, increase food security, and attract investment.
4. Continue to preserve and protect quality farmland, while working collaboratively to rapidly and flexibly designate industrial areas that support investment and jobs.
5. Review the impact of amenity cost charges (ACCs) and development cost charges (DCCs) on industrial lands

“In a world of climate disruptions, geopolitical instability, and fragile global supply chains, B.C. must maximize its food processing and export capacity,” added Anderson. “We’re home to Canada’s largest and most diversified port—handling one in every three dollars of Canadian goods traded outside North America. Let’s build on this foundation and realize the full potential of our domestic production”.

Building B.C.'s Economy is the latest contribution to the Board’s Agenda for Growth – The 3% Challenge, a campaign calling on all levels of government to commit to 3% annual economic growth to create jobs, raise incomes, and fund essential public services.

We invite you to read the full report here:

-30-

About the Greater Vancouver Board of Trade:
Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Western Canada's leading business association, engaging our members to inform public policy at all levels of government and empowering them to succeed and prosper in the global economy. With a Membership whose employees comprise one-third of B.C.'s workforce, we are the largest business association between Victoria and Toronto. We leverage this collective strength, facilitating networking opportunities, and providing professional development through unique programs. In addition, we operate one of the largest events platforms in the country, providing a stage for national and international thought leaders to enlighten B.C.'s business leaders.

Media contact:
Federico Cerani
Communications Manager
Greater Vancouver Board of Trade
604-640-5450 | media@boardoftrade.com