Development, investment projects key once B.C. restrictions start lifting: report

The Business Council of B.C. says once it’s decided it is safe to start opening up again, first on the agenda will be to accelerate development and investment projects to kick-start economic and job growth.

In a report to the Surrey Board of Trade, Jock Finlayson with the B.C. Business Council says residential development projects, maintenance and repair of public sector capital assets and infrastructure and investments across all industries will be key to getting the economy moving again.

Finlayson also says B.C. looks to be in a better position than some other provinces and U.S. states based on infection rates and the extent of business closures.

However, Finlayson says years of job growth in B.C. will be “erased” this year.

Globally, he says, the economy is headed for a sharp, but hopefully temporary, recession.

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