- 2015 Federal Election
There's no good reason for economic confidence
To the Editor:
Re: Survey shows economic confidence, Jan. 30.
The proof is in the pudding they say. And when it comes to drastically improving the city’s economy, the Nanaimo Economic Development Corporation basically told council it’s still looking for the ingredients before it can even move on to reeling in the main course.
So when I hear the mayor praising the NEDC for reaching its 2013 goals, I have to ask what in the heck those goals were? Bottom line – unemployment is up, while the arms-length corporation got taxpayer funding to the tune of $1.25 million for the year.
Sure, we’ll be getting a new legal marijuana grow-op at Duke Point this year employing 40 people, a technology park is slated for Diver Lake and finally, ground-breaking for the long-awaited and much-touted downtown hotel – but our unemployment rate actually increased from 4.4 per cent in December 2012 to 5.2 per cent in December of 2013.
Sorting through the NEDC rhetoric, the trumped-up surveys, indicators, tabulations and crystal ball gazing, the only solid thing I see for a growth industry in the city is the unemployment sector – unless, that is, you have a good high-paying government or quasi-government job.