A new economic profile of Port Moody shows strong job growth in a rapidly growing city.
The report, prepared with assistance from PoMo consultants Eric Vance and Associates, compiles a wide range of data about the city in a report that will serve as a template for future updates. Information included in the profile includes an analysis of key business sectors and growth trends, demographics, employment, income levels, housing and real estate, and more.
It's the first in-depth profile to be created since 2012; earlier reports were also done in 2003, '05 and '11 but there has been little consistency between them.
Margot Davis, PoMo's manager of sustainability, told council the 2015 profile will serve as a more readable and engaging document, and that the standardized, annual approach will help the city draw year-over-year comparisons in the future.
Coun. Diana Dilworth, who chairs the economic development committee, said the depth of information, particularly on demographics, will help the committee determine target markets in the city.
Key highlights noted in the report include:
Job growth of 13.1% since 2006 (850 new jobs), more than double the 6% growth of Metro Vancouver.
The eight largest employers provide a third of the total number of jobs in Port Moody (the top three are Eagle Ridge Hospital, 927 jobs; the city, 686 jobs; and School District 43, 525).
PoMo's population is largely well educated, with two thirds holding a post-secondary education.
About 10% of PoMo residents work within the city while 15% work in Coquitlam and 5% in Port Coquitlam. Another 21% head to Burnaby, 31% to Vancouver and the remaining 18% work elsewhere in the Lower Mainland. The vast majority (80%) get to work in their vehicles while 16% take transit.
The report also includes several "quality of life" indicators such as a declining crime rate, PoMo's City of the Arts brand, the city's proximity to post-secondary institutions (SFU and Coquitlam's Douglas College) and the surrounding natural environment.
@spayneTC
