By Ian Holmes

CPA Report shows Strong Job Growth for Island in 2015

Jun 27, 2016 | 3:11 PM

It’s good news for Vancouver Island’s economy.

A report compiled by economists through the Chartered Professional Accountants of BC found the Island and Central Coast economy enjoyed job growth of 1.5 percent last year.

That’s above the provincial average of 1.2 percent and the modest 0.6 percent growth our region saw in 2014.

Woody Hayes, past president of the Chartered Professional Accountants of BC says the forestry industry helped drive our economy.

“Still very active in selling primarily raw logs, but not withstanding that does do some job creation and that’s a positive impact,” Hayes said.

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According to the annual ‘Regional Check-Up’ by the CPA, lumber and raw log exports from the Port of Nanaimo jumped by 12 percent and nearly 18 percent respectively last year.

Hayes anticipates further employment growth this year.

“The only thing that there is a substantial reliance on is liquified natural gas initiatives which is a longer term, and I don’t think we’ve seen too much of that occurring yet, but from the prospective of mid-Island, I think we’ve got all the makings of continued growth and positive upswings in the economy here.”

The report found that nearly 7,300 new people moved to the Vancouver Island/Central Coast region last year and that 89 percent landed in Nanaimo or Victoria.