Several B.C. business groups at a press conference Tuesday stopped short of endorsing any particular party in the upcoming provincial election, but issued a warning that the province has become unaffordable and is stagnating economically.
Whomever forms the next government needs to address the cost of living and have a vision and policies for economic growth, they said.
"The economy needs to be job one," said Laura Jones, president of the Business Council of B.C. (BCBC).
Groups attending Tuesday's press conference included the Greater Vancouver Board of Trade (GVBOT), BCBC, the B.C. Chamber of Commerce, Council of Forest Industries (COFI), the Mining Association of BC (MABC) and the Independent Contractors and Businesses Association (ICBA).
The business groups pointed to worrisome indicators that B.C.'s once vibrant economy is stagnating. They pointed out that B.C.'s per capita GDP is below 2014 levels, and that there has been no private sector job creation over the past five years in B.C.
All job growth in the past five years have been in the public sector – health care, education and public administration.
GVBOT president Bridgitte Anderson said the last five years have been challenging for the province.
"We have fewer high-paid jobs and fewer high-performing companies," she said.
Anderson said business leaders are united in calling on whoever forms the next government to "deliver a clear and actionable plan that fosters economic growth, increases prosperity and ignites innovation."
B.C.'s political landscape has undergone a very sudden seismic change, with the collapse of the BC United Party and the rise of the Conservative Party of BC under the leadership of former BC United MLA John Rustad.
The Conservatives have not yet put out an election platform, so the business community will have to wait to see if the party has any answers to some of the pressing economic questions being raised by B.C.'s business groups. The business groups have sent out a survey to all the parties asking their positions on issues such as government spending and deficits, climate and energy policies, the cost of living, and crime and safety.
Resource industry associations at Tuesday's press conference reiterated calls for regulatory reforms for mining and forestry.
Michael Goehring, president of the MABC, said 17 critical mineral mine projects worth $36 billion are proposed in B.C. But he noted that it can take 12 to 15 years to get a mine permitted in the province.
"To realize this generational opportunity, we must speed up how we approve mining projects," he said.
B.C.'s forestry sector has suffered a serious decline in the past few years, with resource dependent communities hit hard by sawmill and pulp mill closures, due to a lack of timber.
COFI president Linda Coady said the forestry sector wants to see the provincial government take steps to ensure there is an adequate supply of timber each year to supply B.C.'s sawmills.
At the same time that B.C.'s economy has been stagnating, the NDP government in B.C. has had “record-breaking deficits,” according to Jones.
Fiona Famulak, president of the BC Chamber of Commerce, said polling showed 76 per cent of British Columbians feel the provincial government should do more to lower the cost of doing business and 64 per cent of employers said they are more likely to relocate to another jurisdiction due to investment uncertainty.
"We have a sign on our provincial storefront that says to the world, 'British Columbia is closed for business,’" Famulak said. "It's time to flip that sign."
