In 2019, when Pacific Insight closed operations at the facility west of Nelson, many thought that decision would put a serious dent in tech-based companies in the area.
However, nestled in buildings, shared-space cubicles and homes is a tech community that is thriving and keeping Nelsonites employed in a clean-based industry.
Nelson-Creston MLA Michelle Mungall, who recently was moved into the Jobs, Economic Development and Competitiveness portfolio last month by BC Premier John Horgan, recently staged a media toured to many tech companies located in Nelson, to witness this cottage industry in action.
“Although Pacific Insight closed in 2019, there are still over 230 tech companies in the area, so it plays an important and growing role in our local economy,” Mungall said in a statement.
“Our Crown agency, Innovate BC, provides funding, tools, resources and support to innovators in the Kootenays and throughout the province.”
“For example, Innovate BC has supported the Kootenay Association for Science and Technology (KAST), an organization that helps build and support the technology community in the Kootenay region,” Mungall added.
“KAST also provides tools and resources to help emerging manufactures to more effectively develop their products.”
The tour began at DPace, a local company that supplies products to the international commercial accelerator industry. Located in the large brick building at the corner of Front and Hall Street, DPace recently won a $1 Million USD contract to develop and test an ion source system.
The tour continued to other businesses — CoreLogic, SMRT Technology, Traction on Demand, Cover Architecture, Advanced Technology and Valid Manufacturing Ltd.
During the tour Mungall was made aware the many challenges local tech companies are experiencing working in a rural, small-town location.
Some of those challenges included finding rental accommodations for employees, the lack of reliable transportation in and out of Nelson — especially during the winter months — and finding employees, locally.
“Clean Tech is an important sector in B.C. because it supports us in realizing our CleanBC goals,” Mungall explained.
“B.C. has more than 270 clean tech companies that provide good jobs for people, reduce environmental impacts and help keep our industries on the leading edge of innovation.”
While the loss of Pacific Insight put a serious dent in the Nelson economy, it may have been a blessing for Salmon Arm-based business, Valid Manufacturing Ltd.
Founded in 1991, Vidal Industries thought the company could scoop some of the talent cast aside by Pacific Insight to work in the North Okanagan. But when workers decided to consider other options, so too did Vidal Industries.
“When the (Valid Manufacturing Ltd.)owners had heard about Pacific Insight closing, they started reaching out to some of the employees to move to Salmon Arm,” said a spokesperson for Valid Manufacturing Ltd.
“No one that they talked to really had any interest of moving to Salmon Arm, so we thought we’d come to them.”
Valid Manufacturing Ltd. hired eight workers from Pacific Insight and opened an office in Nelson.
“We’re definitely looking at growing in the area as well knowing there are a lot of very skilled people who were displaced with Pacific Insight moving,” the Valid Manufacturing Ltd. spokesperson explained.
“There were over 200 people in that building two years ago . . .. There are a lot of opportunities so we’re looking at ways to hopefully bring manufacturing into this area again, hiring some of that skilled labour back into the jobs they previously had.”
Mungall said the provincial government provides a wide array of support for the clean tech sector at all stages of growth including through the BC Tech Fund.
She said the fund invests in B.C.-based clean tech companies and venture capital funds with a clean tech focus to help them scale-up and grow.
“We are providing over $785,000 to the Alacrity Foundation’s Cleantech Scale-Up program, funding which is matched by Western Economic Diversification,” Mungall said.
“Also, in place is B.C.’s Innovative Clean Energy Fund which helps advance promising clean energy technology by investing in leading clean tech companies, universities, First Nations and municipalities.”
“These are just a few examples of the programs and support we have in place to support the clean tech sector,” Mungall adds.
Tech Companies Nelson Tour:
D-Pace supplies products to the international commercial accelerator industry, which includes beamline systems, beam diagnostic devices, and ion sources for research, industrial, and commercial accelerator systems.
CoreLogic provides information intelligence to identify and manage growth opportunities, improve business performance and manage risk. Clients see a market leader for unique property-level insights backed by science and analytics. Delivering business operations, addressing challenges and acting quickly to present innovative, cost-effective solutions.
SMRT1 technology company in Nelson, BC specializes in solutions that are a fusion of interactive touchscreens that provide automated retail a data-rich and engaging customer experience
Traction on Demand is one of North America’s largest Salesforce consulting and application development firms. Its work extends beyond cloud services; building long-term capacity through partnership and customer enablement.
Cover Architecture is committed to energy conservation and sustainable design. The company has completed both Certified PassiveHouse and Energy Step Code projects and believe that every project offers an opportunity to build better. Sustainability is integrated into work from the initiation of the project through the end of the construction period. Advanced Technology utilizes Building information modeling (BIM) software, which allows for 3-D visualization of the project. This is a valuable tool for communicating with clients and stakeholders and allows a deep understanding of the building before moving forward with construction.
Valid Manufacturing Ltd. is a privately owned and operated Canadian company, founded in 1991. Working directly with customers, Valid’s engineering and design teams utilize innovation and proven technology to develop and manufacture cost-effective solutions for industrial, commercial and recreational vehicle applications.
Thomas Stewart, Chief Operating Officer at DPace tours BC Minister of Jobs, Economic Development and Competitiveness, Michelle Mungall through the operation at Hall and Front Street in Nelson. — The Nelson Daily photo
Laura Salekin, Senior manager of Client Services at CoreLogic discusses some of the challenges with BC Minister of Jobs, Economic Development and Competitiveness, Michelle Mungall and Rose Hoeher. — The Nelson Daily photo
OTTAWA – Canada’s unemployment rate held steady at 6.5 per cent last month as hiring remained weak across the economy.
Statistics Canada’s labour force survey on Friday said employment rose by a modest 15,000 jobs in October.
Business, building and support services saw the largest gain in employment.
Meanwhile, finance, insurance, real estate, rental and leasing experienced the largest decline.
Many economists see weakness in the job market continuing in the short term, before the Bank of Canada’s interest rate cuts spark a rebound in economic growth next year.
Despite ongoing softness in the labour market, however, strong wage growth has raged on in Canada. Average hourly wages in October grew 4.9 per cent from a year ago, reaching $35.76.
Friday’s report also shed some light on the financial health of households.
According to the agency, 28.8 per cent of Canadians aged 15 or older were living in a household that had difficulty meeting financial needs – like food and housing – in the previous four weeks.
That was down from 33.1 per cent in October 2023 and 35.5 per cent in October 2022, but still above the 20.4 per cent figure recorded in October 2020.
People living in a rented home were more likely to report difficulty meeting financial needs, with nearly four in 10 reporting that was the case.
That compares with just under a quarter of those living in an owned home by a household member.
Immigrants were also more likely to report facing financial strain last month, with about four out of 10 immigrants who landed in the last year doing so.
That compares with about three in 10 more established immigrants and one in four of people born in Canada.
This report by The Canadian Press was first published Nov. 8, 2024.
The Canadian Institute for Health Information says health-care spending in Canada is projected to reach a new high in 2024.
The annual report released Thursday says total health spending is expected to hit $372 billion, or $9,054 per Canadian.
CIHI’s national analysis predicts expenditures will rise by 5.7 per cent in 2024, compared to 4.5 per cent in 2023 and 1.7 per cent in 2022.
This year’s health spending is estimated to represent 12.4 per cent of Canada’s gross domestic product. Excluding two years of the pandemic, it would be the highest ratio in the country’s history.
While it’s not unusual for health expenditures to outpace economic growth, the report says this could be the case for the next several years due to Canada’s growing population and its aging demographic.
Canada’s per capita spending on health care in 2022 was among the highest in the world, but still less than countries such as the United States and Sweden.
The report notes that the Canadian dental and pharmacare plans could push health-care spending even further as more people who previously couldn’t afford these services start using them.
This report by The Canadian Press was first published Nov. 7, 2024.
Canadian Press health coverage receives support through a partnership with the Canadian Medical Association. CP is solely responsible for this content.
As Canadians wake up to news that Donald Trump will return to the White House, the president-elect’s protectionist stance is casting a spotlight on what effect his second term will have on Canada-U.S. economic ties.
Some Canadian business leaders have expressed worry over Trump’s promise to introduce a universal 10 per cent tariff on all American imports.
A Canadian Chamber of Commerce report released last month suggested those tariffs would shrink the Canadian economy, resulting in around $30 billion per year in economic costs.
More than 77 per cent of Canadian exports go to the U.S.
Canada’s manufacturing sector faces the biggest risk should Trump push forward on imposing broad tariffs, said Canadian Manufacturers and Exporters president and CEO Dennis Darby. He said the sector is the “most trade-exposed” within Canada.
“It’s in the U.S.’s best interest, it’s in our best interest, but most importantly for consumers across North America, that we’re able to trade goods, materials, ingredients, as we have under the trade agreements,” Darby said in an interview.
“It’s a more complex or complicated outcome than it would have been with the Democrats, but we’ve had to deal with this before and we’re going to do our best to deal with it again.”
American economists have also warned Trump’s plan could cause inflation and possibly a recession, which could have ripple effects in Canada.
It’s consumers who will ultimately feel the burden of any inflationary effect caused by broad tariffs, said Darby.
“A tariff tends to raise costs, and it ultimately raises prices, so that’s something that we have to be prepared for,” he said.
“It could tilt production mandates. A tariff makes goods more expensive, but on the same token, it also will make inputs for the U.S. more expensive.”
A report last month by TD economist Marc Ercolao said research shows a full-scale implementation of Trump’s tariff plan could lead to a near-five per cent reduction in Canadian export volumes to the U.S. by early-2027, relative to current baseline forecasts.
Retaliation by Canada would also increase costs for domestic producers, and push import volumes lower in the process.
“Slowing import activity mitigates some of the negative net trade impact on total GDP enough to avoid a technical recession, but still produces a period of extended stagnation through 2025 and 2026,” Ercolao said.
Since the Canada-United States-Mexico Agreement came into effect in 2020, trade between Canada and the U.S. has surged by 46 per cent, according to the Toronto Region Board of Trade.
With that deal is up for review in 2026, Canadian Chamber of Commerce president and CEO Candace Laing said the Canadian government “must collaborate effectively with the Trump administration to preserve and strengthen our bilateral economic partnership.”
“With an impressive $3.6 billion in daily trade, Canada and the United States are each other’s closest international partners. The secure and efficient flow of goods and people across our border … remains essential for the economies of both countries,” she said in a statement.
“By resisting tariffs and trade barriers that will only raise prices and hurt consumers in both countries, Canada and the United States can strengthen resilient cross-border supply chains that enhance our shared economic security.”
This report by The Canadian Press was first published Nov. 6, 2024.
