B.C.’s resource boom is paying off for some First Nations groups who recently inked historic revenue-sharing deals with the province, but one community said the rush to exploit the province’s natural gifts has become an uncontrollable stampede.
West Moberly Chief Roland Willson stands at ground zero of the boom near Fort St. John.
Every day his people face an onslaught of resource companies, many from Vancouver, that want to build the next shale gas well, coal mine or power project.
There are so many consultation referrals, said Willson, triage is the only way his staff can sort through them all.
August 31-September 6
Reports that the Dinotown amusement park is headed for extinction are greatly exaggerated.
Yes, owner Rob Ell sold the 18-acre cartoon dinosaur theme park east of Chilliwack to developer Tri-R Development Group last year in a multimillion-dollar transaction. Tri-R takes possession of the park at the end of September and plans to build an RV park.
But Ell plans to reopen a Dinotown theme park in either Burnaby or Surrey within the next year. He then wants to franchise his brand worldwide.
“We’re going to take this thing global,” Ell told Business in Vancouver after a weekend when he had three times the number of customers as usual.
September 7-13
Nine Vancouver entrepreneurs intend to cash in on the recent upswing in demand for upscale fresh Mexican fast food by buying franchises from fast-growing Ontario-based Mucho Burrito.
During the past few years, Chipotle Mexican Grill has been the U.S. restaurant sector’s premier growth story. Thus far this year, its stock is up 86% and repeatedly hit all-time highs of about US$163 in early September.
Mucho Burrito, which has a similar product to Chipotle, opened its first B.C. restaurant in Burnaby in March. It plans to open a location on Davie Street near Burrard Street in December.
Then, in 2011, locations are set to open in Victoria, Vernon, Kelowna, North Vancouver, Richmond, Surrey and Vancouver.
September 14-20
The recession continues to hurt British Columbia’s manufacturing sector, but some local business leaders have zeroed in on innovation to revamp their companies for the long term.
Justin Williams is one of them.
When the downturn reared its ugly head, the 27-year-old CEO of Williams and White Inc. wasn’t afraid to overhaul his company, one that had sustained his family for three generations.
“A huge focus for us has been diversification of our client base. … As the economy started to crumble we really pushed and said, ‘What other sectors are out there and who is busy?’” Williams told BIV during an interview at his Burnaby office.
September 14-20
Cocktail bars might be enjoying a renaissance in Vancouver, but antiquated laws governing liquor distribution are restricting the growth and agri-tourism potential of the artisan distilleries that are springing up around the province.
While updated regul-ations in Oregon and other states have helped cultivate a vibrant artisan distillery industry in the U.S., small-batch distillers in B.C. are at the mercy of the provincial Liquor Distribution Branch (LDB).
Under current LDB regulations, distillers are prohibited from:
- distributing their products directly to customers;
- charging a fee for samples provided during tastings;
- hosting events at their distillery; and
- operating a lounge.
September 21-27
The geothermal industry is citing Enbridge Inc.’s deal to finance a geothermal project in Oregon as further evidence that a lack of government interest in developing geothermal projects in Canada is forcing Canadian resource companies to look abroad for geothermal energy opportunities.
In what is its first foray into the geothermal sector, Calgary’s Enbridge announced September 8 that it will invest up to US$23.8 million for a 20% interest in a 35-megawatt geothermal project in Oregon that’s being developed by Idaho’s US Geothermal Inc.
September 21-27
Business owners watching sales slide because of the HST say Ottawa’s plan to raise payroll taxes 8.6% in January 2011 is ill-timed.
“We’re still in a recession and the economy is just trying to build itself up,” said Ron Zalko Total Body Fitness and Yoga owner Ron Zalko.
“Payroll taxes are high the way they are. It would be a job-killer to raise them.”
To fund the employment insurance system, business owners currently pay $2.42 in payroll taxes for each $100 they pay staff and employees pay $1.73 for each $100 they earn.
Customers have become hesitant to spend money since the HST came into effect July 1, Zalko said.
September 28-October 4
Business mogul Thomas Fung believes that B.C.’s HST is helping him attract buyers for his newest expansion of Aberdeen Centre in Richmond.
On a three-day weekend in late September, he sold $80 million, or 75% of the combined retail and office space at his Aberdeen Centre mega-mall’s 160,000-square-foot Phase 3, which is set to be complete in 2013.
“The HST does not apply to commercial properties like strata units in malls or office units,” Fung told Business in Vancouver. “Right there, that’s a saving of 12%. You have to pay the HST on commercial leases.”
Fung believes that enthusiasm for his mall’s extension, dubbed Aberdeen Square, also stems from the facility’s location adjoining the Aberdeen Station. That access attracts customers and makes it easier for employers to recruit staff to stores in what is currently a 550,000-square-foot mall.
September 28-October 4