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Economic Impact Study Victoria and Esquimalt Harbours

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Economic Impact Study Victoria and Esquimalt Harbours Economic Impact Study Victoria and Esquimalt Harbours June 2021 Greater Victoria Harbour Authority | Economic Impact Study for Victoria and Esquimalt Harbours Acknowledgments The Greater Victoria Harbour Authority (GVHA) acknowledges that the Victoria and Esquimalt harbours are located in the traditional territory of the Lekwungen People, whose relationship to the land continues to this day. We are grateful for the participation of the Esquimalt Nation and Songhees Nation in the development of this Economic Impact Study (EIS) and will continue to work together in pursuit of Indigenous reconciliation through the harbours and Greater Victoria. We extend our appreciation to the following donors whose contributions made the development of this study possible: Greater Victoria Harbour Authority | Economic Impact Study for Victoria and Esquimalt Harbours We also acknowledge the ongoing participation and valuable input of a broad range of partners and stakeholders who attended meetings, completed surveys and interviews, and participated in the development of this economic impact study. GVHA also acknowledges the work of the EIS Steering Committee for this study including the following members. Councillor Marianne Alto, City of Victoria Nick Banks, Victoria Esquimalt Harbour Society Stafford Bingham, Public Services and Procurement Canada Christina Clarke, Songhees Nation Sydney Cunliffe, Coast Guard Mayor Barb Desjardins, Township of Esquimalt Judith Ethier, Greater Victoria Harbour Authority Dallas Gislason, South Island Prosperity Partnership Katie Hooper, Esquimalt Nation Kevin House, BC Ministry of Transportation and Infrastructure Judy Kitts, Greater Victoria Harbour Authority Gary Leibel, Ralmax Group of Companies Shannon Price, BC Ministry of Transportation and Infrastructure Captain Sam Sader, CFB Esquimalt Carolyn Schier, Coast Guard Brock Smith, University of Victoria Danielle Smith, CFB Esquimalt Graham Wallace, Destination Greater Victoria Bruce Williams, Greater Victoria Chamber of Commerce Tony Winter, Seaspan Victoria Shipyards Prepared for: Prepared by: The Greater Victoria Harbour Authority HDR Corporation 100-1019 Wharf Street 655 Tyee Road Victoria, BC Victoria, BC V8W 2Y9 V9A 6X5 June 22, 2021 2 Greater Victoria Harbour Authority | Economic Impact Study for Victoria and Esquimalt Harbours Table of Contents Executive Summary .................................................................................................................................... 1 Introduction and Study Overview ...................................................................................................... 5 Victoria and Esquimalt Harbour Profiles .......................................................................................... 8 Study Approach ................................................................................................................................ 20 Economic Impact Study Results ..................................................................................................... 28 Sector-specific Impact Summaries ................................................................................................. 61 Appendices ........................................................................................................................................ 74 3 Greater Victoria Harbour Authority | Economic Impact Study for Victoria and Esquimalt Harbours List of Tables Table 1: Economic Impacts from All Business Activity in Victoria and Esquimalt Harbours ........................................... 4 Table 2: Survey Responses by Sector ......................................................................................................................... 26 Table 3: Economic Impacts from All Business Activity in Victoria Harbour .................................................................. 30 Table 4: Economic Impacts from All Business Activity in Esquimalt Harbour ............................................................... 32 Table 5: Economic Impacts from All Business Activity in Victoria and Esquimalt Harbour ........................................... 35 Table 6: Economic Impacts of the Government & Institutional Sector in Victoria Harbour ........................................... 62 Table 7: Economic Impacts of the Government & Institutional Sector in Esquimalt Harbour ....................................... 63 Table 8: Economic Impacts of the Industrial Sector in Victoria Harbour ....................................................................... 65 Table 9: Economic Impacts of the Industrial Sector in Esquimalt Harbour ................................................................... 66 Table 10: Economic Impacts of the Transportation Sector in Victoria Harbour ............................................................ 68 Table 11: Economic Impacts of the Tourism Sector in Victoria Harbour ...................................................................... 71 Table 12: Economic Impacts of the Recreational Sector in Victoria Harbour ............................................................... 72 Table 13: Economic Impacts from All Business Activity in Victoria Harbour ................................................................ 76 Table 14: Economic Impacts from the Government & Institutional Sector in Victoria Harbour ..................................... 76 Table 15: Economic Impacts from the Industrial Sector in Victoria Harbour ................................................................ 76 Table 16: Economic Impacts from the Transportation Sector in Victoria Harbour ........................................................ 77 Table 17: Economic Impacts from the Tourism Sector in Victoria Harbour .................................................................. 77 Table 18: Economic Impacts from the Recreational Sector in Victoria Harbour ........................................................... 77 Table 19: Direct Impact of Victoria Harbour on the Local Economy ............................................................................. 78 Table 20: Indirect Impact of Victoria Harbour on British Columbia’s Economy ............................................................ 78 Table 21: Induced Impact of Victoria Harbour on British Columbia’s Economy ........................................................... 78 Table 22: Total Impact of Victoria Harbour on British Columbia’s Economy ................................................................ 78 Table 23: Indirect Impact of Victoria Harbour on the Canadian Economy .................................................................... 79 Table 24: Induced Impact of Victoria Harbour on the Canadian Economy ................................................................... 79 Table 25: Total Impact of Victoria Harbour on the Canadian Economy ........................................................................ 79 Table 26: Total Direct, Indirect, and Induced Economic Impacts of Victoria Harbour................................................... 80 Table 27: Government & Institutional Sector Direct, Indirect, and Induced Economic Impacts of Victoria Harbour ..... 80 Table 28: Industrial Sector Direct, Indirect, and Induced Economic Impacts of Victoria Harbour ................................. 81 Table 29: Transportation Sector Direct, Indirect, and Induced Economic Impacts of Victoria Harbour ........................ 81 Table 30: Tourism Sector Direct, Indirect, and Induced Economic Impacts of Victoria Harbour .................................. 81 Table 31: Recreational Sector Direct, Indirect, and Induced Economic Impacts of Victoria Harbour ........................... 82 Table 32: Economic Impacts from All Business Activity in Esquimalt Harbour ............................................................. 83 Table 33: Economic Impacts from the Government & Institutional Sector in Esquimalt Harbour ................................. 83 Table 34: Economic Impacts from the Industrial Sector in Esquimalt Harbour ............................................................. 83 Table 35: Economic Impacts from the Tourism Sector in Esquimalt Harbour .............................................................. 84 Table 36: Economic Impacts from the Recreational Sector in Esquimalt Harbour ....................................................... 84 Table 37: Direct Impact of Esquimalt Harbour on the Local Economy ......................................................................... 85 Table 38: Indirect Impact of Esquimalt Harbour on British Columbia’s Economy ......................................................... 85 Table 39: Induced Impact of Esquimalt Harbour on British Columbia’s Economy ........................................................ 85 Table 40: Total Impact of Esquimalt Harbour on British Columbia’s Economy ............................................................ 85 Table 41: Indirect Impact of Esquimalt Harbour on the Canadian Economy ................................................................ 85 Table 42: Induced Impact of Esquimalt Harbour on the Canadian Economy ............................................................... 86 Table 43: Total Impact of Esquimalt Harbour on the Canadian Economy .................................................................... 86 Table 44: Total Direct, Indirect, and Induced Economic Impacts of Esquimalt Harbour ............................................... 87 Table 45: Government & Institutional Sector Direct, Indirect,
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