Written for Daily Hive Urbanized by Alex Mitchell, the CEO of the Abbotsford Chamber of Commerce and chair of the Fraser Valley Business Coalition.
As the major population centre of our province, the Metro Vancouver area gets (and deserves) a lot of attention and investment. But we are starting to see the significant limitations of the region: housing crisis, lack of industrial land, general affordability, and shortages of available labour.
The good news? The neighbouring Fraser Valley is hiding in plain view as a viable solution to many of those challenges. The time has come for our region to step off the sidelines and unleash its potential onto the playing field. The business community stands at the ready and eager to press into this opportunity, and it is our firm belief that a surge in investments and decisive policies from the Government of British Columbia will accelerate our collective journey towards this vision.
Let’s take industrial land. A study commissioned by the Greater Vancouver Board of Trade (GVBOT) and the Vancouver Chapter of the Commercial Real Estate Development Association highlights the grave consequences that a growing lack of industrial land is already having: local land costs have tripled over the last five years, with the average cost per acre now six times higher in Metro Vancouver than in Seattle or Calgary.
So, where can we look for more options for industrial land? The Fraser Valley. In fact, in that same GVBOT study, NAOIP Vancouver stated, “Priority needs to be placed on the addition of more industrial lands to Metro Vancouver and the Fraser Valley to continue to support the movement of food and goods and to create and maintain jobs in our region.” Abbotsford alone has approximately 3,000 acres of industrial zone land, one US Border crossing and an international airport.
The Fraser Valley is already a key part of our province’s supply chain and the number one driver of Canada’s food security. The atmospheric river in November 2021 highlighted the strategic importance of the Fraser Valley when the devastating floods halted the movement of goods and delivered a $16.3 billion hit to the GDP. Ensuring goods like grain, dairy, and poultry arrive at the port for export and to the shelves of grocery stores across our province is not only critical to our economy but also to our food security.
Much of our food is being grown in the Fraser Valley, known globally as the most productive agricultural land in Canada, generating $3.83 billion of economic activity each year, according to the Abbotsford Chamber of Commerce’s report. With the highest gross farm receipts in the country, Canada’s food security is contingent on Abbotsford — we need to ensure that critical infrastructure is maintained and is resilient to the impacts of climate change, ultimately speaking to the paramount need for new investments in flood mitigation infrastructure.
We are increasingly a centre of advanced agri-tech with companies like Vitalus Nutrition Inc., which is disrupting the Canadian Dairy industry; Westgen, Western Canada’s leader in genetics and reproduction; Aright Greentech specializing in vertical farming; and BW Global providing innovation solutions to global food and water issues, just to name a few.
And we have the growing population to support the private-sector operations that are fuelling the regional economy. Our expected population growth of 47 % by 2050 will continue to bring skilled personnel to fill the open positions that we see in industries like manufacturing, agriculture, and aerospace.
It’s time to invest in the Fraser Valley
The Fraser Valley has all the building blocks for a prosperous future for our province. But if we want to reach our true economic potential, we must act now.
We need the provincial government to step up. Historically, the Fraser Valley has not been a priority when it comes to public-sector investment. That needs to change. It’s time for government to join the business community and commit to making the Fraser Valley an attractive investment option for large and small businesses alike.
Crucial first steps that government could — and must — take are speeding up highway expansion, developing interchanges that unlock the development of lands by the highway, and developing a transportation and infrastructure plan that includes increased funding for flood mitigation to prepare for the next natural disaster. And government support shouldn’t stop there. Additional support should come in the form of reviewing and releasing poorly zoned agricultural land to be leveraged for ag-industrial, developing the housing we need to keep our kids and grandkids in the region, and investing in the region’s fair share of infrastructure and services like hospitals and schools.
Recent provincial housing bills such as Bill 44, the Housing Statutes (Residential Development) Amendment Act, have illustrated how quickly and decisively government can act when motivated. The business community is ready and willing to act — but only the provincial government can make the necessary policy changes and infrastructure investments.
But we have a role to play here as well: the Fraser Valley needs a bold vision to position it as BC’s next economic hub. To attract investment, it needs to be actively promoted, with everyone working towards this goal.
The Fraser Valley Business Coalition
That’s why the Chambers of Commerce in Abbotsford, Langley, Chilliwack and Mission have come together to form the Fraser Valley Business Coalition.
As organizations representing over 5,000 businesses across the region, our work will articulate the “art of the possible” for the Fraser Valley. BC has an opportunity for its businesses and people to prosper in this region, but everyone must work together to realize this vision.
As a key step towards this goal, the Coalition is hosting the inaugural Fraser Valley Economic Summit on April 16 at the University of the Fraser Valley. The Coalition will share more information about its plans and initiatives, discuss its proposed vision for the future of the Fraser Valley, showcase examples of impactful economic development from across BC, and highlight the local leaders who are driving change.
The Fraser Valley has never been scared of hard work and is ready to do the heavy lifting to seize this moment for the benefit of all British Columbians. But the real question is whether or not the provincial government will come to the table to support this progress.
This region is going to be playing a critical role in the upcoming election and many candidates’ political future may depend on their support of the Fraser Valley. Let’s come together to build a stronger BC by investing in the future of the Fraser Valley.
