Today's News

Vancouver, BC, September 27, 2023--(T-Net)--The City of Vancouver announced last week that it will be winding down the Vancouver Economic Commission (VEC) and decommissioning its operations.

Key functions of the VEC will be brought under the direct oversight of the Vancouver City Manager's Office.

Ken Sim, Mayor, City of Vancouver

"This move reflects the immense importance of business support and economic development to City Council," said Mayor Ken Sim. "We're focused on being business friendly at City Hall, which means delivering services and supports in the most seamless and efficient way possible for local businesses."

A new Business and Economy Office within the City Manager's Office will have the mandate to ensure the City's strategy, policy, and programs consider implications for business, while also achieving financial efficiencies.

Paul Mochrie, City Manager, City of Vancouver

"By further integrating business support functions into the day-to-day work of City Hall, it will ensure the City optimizes these supports in a coordinated way," said City Manager Paul Mochrie. "Particularly with Metro Vancouver's creation of Invest Vancouver in 2019 to attract investment into our economy at a regional level, this new office will help the City focus on the local economy, supporting Vancouver businesses, and complementing Invest Vancouver's business attraction and retention work."

A phased decommissioning plan will be enacted to minimize impacts of the transition on the business community and program partners to the greatest extent possible.

The City said in a release that it "acknowledges the contributions of the Vancouver Economic Commission staff since its inception in 1995 and work achieved that has helped to competitively position Vancouver in the global market and provided support to local industries".

Background: Vancouver Economic Commission

The VEC is a non-profit society constituted under the BC Societies Act in 1995. It is primarily funded, with oversight from, the City of Vancouver.

With direct support from partners, the Vancouver Economic Commission has helped to competitively position Vancouver in the global market and supported local industries such as film, digital, entertainment, innovation, clean technology, e-sports and circular economy business communities, through research, investment attraction and program delivery.

See examples of the VEC's key achievements External website, opens in new tab.