Richmond Resilient Economy Strategy

• What activities drive Richmond’s economy?
• What types of jobs are available locally?
• Where are the future opportunities for economic development?
• What can the City do to help ensure the success and growth of local businesses?
• What does it mean to have a resilient economy?

The City of Richmond invites you to provide input on its proposed Richmond Resilient Economy Strategy, which addresses these and other questions. The strategy was developed by the Economic Development Office with input from the Economic Advisory Committee of Council and various stakeholder organizations.

Please have a look at the outline of the strategy’s goals and proposed action items by clicking "Read More" below. The complete proposed Strategy and accompanying technical reports can be found in the Library on the right hand side of this web page.

Strategy Goals

Based on Richmond’s competitive advantage within a regional context and based on the current urban footprint defined in Richmond’s Official Community Plan, the proposed Resilient Economy Strategy establishes the following core objectives:

• Retain existing employers and business tax base
• Maintain ability to accommodate a steady share of regional employment (10%)
• Diversify the economy
• Aim to keep regional share of jobs greater than regional share of population

Strategy Themes and Action Items

The draft Strategy proposes nine core themes to achieve the above goals, as well as specific actions in the short and medium-term and ongoing activities. A summary of the themes is presented below, with a comprehensive list of corresponding actions, timelines and resources provided in detail in the proposed Strategy. The nine themes include:

1. Increase Richmond’s capacity to accommodate light industrial businesses
2. Strengthen Richmond’s role as a gateway for goods movement
3. Increase the tourism sector in Richmond
4. Retain and support existing businesses
5. Increase Richmond’s appeal as a regional office centre
6. Support economic diversity, small business opportunities and localization
7. Invest in relationships with senior governments
8. Cooperate with the rest of the region
9. Maintain a high quality of environment, life and public services