Priorities

Prosperity Corporation priorities are detailed in the City’s Integrated Action Plan for a Green, Connected, Healthy, Empowered, Prosperous Nanaimo.

A Prosperous Nanaimo: Thriving & Resilent Economy
  1. Continue to invest & revitalize the downtown
  2. Position Nanaimo as the transportation & logistics hub for Vancouver Island
  3. Develop a Health Care Centre of Excellence
  4. Ensure a Skilled & Talented Workforce
  5. Promote Principles of the Doughnut Economy
  6. Support the Development of the Circular Economy
  7. Support & Grow a Diversified Business Base
  8. Provide timely, relevant economic data to the business community & public
  9. Create a Business-friendly Environment
  10. Help Grow the technology Sector
  11. Improve Connectivity
  12. Become Recognized as an ‘Intelligent City’
  13. Prepare an Investment Attraction Strategy
  14. Create a Uniform Brand for Nanaimo
  15. Invest in Place Making Initiatives
Incentives

The City of Nanaimo provides incentives for development under a number of tax exemption and grant funding programs. Please note this is not an exhaustive list of grants available in the community and we encourage you to explore other available options.

Tax Exemption projects approved:

440 Selby Street – This project involved the construction of a 3-storey boutique hotel with 45 rooms. The Quality Inn opened for business in 2021 and features ancillary meeting rooms, a salon and a 36-seat restaurant. The current assessed value of the property is $2,899,000.

531 Kennedy Street – This development produced a 2-storey, 8-unit multi-family rental apartment building which was open for occupancy in 2021. The current assessed value of the property is $1,773,000.

507 Milton Street – 25-unit strata residential building with 3 commercial units. The value of the completed development is estimated at $7,539,000.

100 Gordon Street -A Courtyard Marriott Hotel is constructed on this site. The development is a nine-story, 172-room four star hotel, which includes an indoor pool, fitness area, meeting room and indoor/outdoor restaurant.

521 Hecate Street – The project is a 3-storey, 10-unit multi-family strata residential development. The anticipated completion date is on or before April 30, 2024. The estimated value upon completion is $1,416,275.

Initiatives
We’re just getting started. Here are a few examples of where we are heading.

Recruiting Engineers – It became apparent in one-to-one conversations with techo-industrial business executives that numerous companies in Nanaimo were actively seeking engineering talent – robotics, structural, electrical, environmental, software, process, you name it. To support this wealth-generating part of the Nanaimo economy, the Prosperity Corporation has partnered with eight companies in a social media ad campaign to attract interns, technicians, junior and senior engineers to career opportunities in Nanaimo. This pilot project will provide data necessary to consider similar projects to attract talent in other sectors. (Priority #4)

Hospital Economic Impact Assessment – Nanaimo Regional General Hospital needs to expand capacity and develop a new cancer centre and a cath lab. In support of this endeavor, the Prosperity Corporation will partner with the Nanaimo Hospital Foundation to produce an economic impact assessment showing the economic benefits of major investment in our regional health services. (Priority #3)

Transportation, Warehousing & Logistics – Nanaimo is home to significant transportation infrastructure serving as foundation for a high-functioning hub of transportation, warehousing and logistics. Both Nanaimo Airport and Port of Nanaimo have expansive plans for their operations. The Port of Nanaimo and Vancouver Island Economic Alliance are conducting a supply chain analysis. The Island Rail Corridor continues advocating for infrastructure investment to serve long-term cargo and passenger needs with reduced carbon footprint. The Vancouver Island Economic Alliance and Island Coastal Economic Trust are in the midst of an Inter-community Transportation Study.

The Prosperity Corporation will convene a series of meetings with organizations primarily involved with transportation infrastructure, transportation services, and large scale industrial land to identify gaps and opportunities to help ensure that this complex web continues developing to fulfill its considerable potential to meet the growing import/export demand in coastal British Columbia. (Priority #2)

PechaKucha-Style Event – What better way to encourage and attract innovation than to sponsor a series of networking events with rapid fire presentations? Inspired by a desire to “talk less, show more”, a couple of Tokyo-based architects created PechaKucha in 2003. It was a way to enable young designers to meet, show their work, and exchange ideas in 6 minutes and 40 seconds. Since then, PechaKucha Nights have been hosted in more than a thousand cities worldwide with more than 3 million people participating.

In 2024, the Nanaimo Prosperity Corporation is sponsoring a series of four PechaKucha events assembled by the World Leisure Centre for Excellence at Vancouver Island University and Planning Design Development Nanaimo. Each event features six unique 6 minute & 40 second presentations with plenty of time in between for networking, dialogue, snacks and libations over a two-hour period. (Priority #12)

Nanaimo Brand – The Prosperity Corporation partnered with Tourism Nanaimo to create a new, uniform brand for the City that speaks truth about the community and is immediate and relevant for the demographic audiences for destination tourism and business investment – people who find genuine, unvarnished, unpretentious information refreshing. (Priority #14)

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