This study identified the region’s existing clean economy strengths and the opportunities for building on its traditional industrial economic base (including agriculture and food processing). The research highlighted federal, provincial, and regional policies and initiatives that local businesses and economic development agencies could leverage to accelerate clean economy growth in the region. It also identified important infrastructure assets that exist in the region and could form the foundation for future clean economy sector growth.
The Delphi Green Economy Services team led a statistical analysis across five key clean economy sectors in the FVRD:
The goal of this analysis was to develop sector profiles and determine the region’s comparative advantage and its leading clean economy sectors based on potential GDP output and jobs. The research also included a policy scan of relevant federal, provincial, and local policies that support the transition to a clean economy, as well as a summary of relevant macro-level trends and a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis.
The study also engaged a range of local stakeholders through one-on-one interviews and an in-person workshop to present and validate the key findings and to better understand how the strengths and barriers could impact the growth of the region’s clean economy.
The study revealed that the Fraser Valley has a solid foundation and set of underlying strengths to further accelerate growth of the region’s clean economy—responsible for generating $1.17 billion in direct GDP and directly employing more than 11,000 people in 2016. The final recommendations of the study are used to inform the FVRD’s Regional Growth Strategy and ensure alignment with federal and provincial clean economy objectives.
Opportunity areas identified in the report ripe for accelerated investment in the region include:
The FVRD also showcased the outcomes from the study at the international GLOBE Forum in February 2020. The Clean Economy in the Fraser Valley Spotlight side event showcased local project, partnership and investment opportunities, attracting a diverse audience, including international investors, cleantech solution providers, government policymakers, local economic development partners, city officials, and First Nations community leaders.