Parksville has been ranked number seven on the list of the most economically resilient cities in B.C., according to BC Business magazine.
Vancouver Island communities dominated the top 10 and also nabbed the top three spots for a fifth year in a row — Sidney, Langford and Central Saanich are ranked first, second and third.
“Many factors such as an increase in rental inventory, low municipal debt and a substantial accumulated surplus, environmental initiatives, expedited building permit approvals and infrastructure renewal contributes to Parksville’s successful ranking," Mayor Doug O'Brien said. "We are proud to be ranked in the top ten on Vancouver Island and are committed to growing a strong and sustainable economy.”
The 11th annual ranking of 50 B.C. communities with more than 10,000 permanent residents examines indicators such as social, economic resilience, population growth, resident sense of belonging, and environmental aspects.
In 2024, Parksville was ranked at 21.
The BC Business magazine rankings consider everything from population growth to green house gas emissions, household financial vulnerability, average annual unemployment, housing starts, and rental vacancy rates. Vancouver Island communities continued their trend of strong showings on the list.
