Whistler listed as second-best place for work in 2020 

Whistler is second to Squamish for second year in a row in BCBusiness' rankings

click to enlarge Squamish is number one, at least in terms of a place to work, says BCBusiness - Photo: SHUTTERSTOCK
  • Squamish is number one, at least in terms of a place to work, says BCBusiness Photo: SHUTTERSTOCK

Squamish did it for 2019 and has done it again for 2020.

The town has been ranked as the best place to work for the second year in a row by BCBusiness.

Similar to last year, Squamish has also beat out Whistler, which is again ranked second.

"In the case of Squamish, a hot residential construction market punctuates its first-place standing, with housing starts seeing nearly 50% more activity than in the next leading city on the list," reads the BCBusiness article.

In that story, UBC professor Tsur Somerville told the magazine that there are a lot of multiplier effects out of construction.

"It has a pretty high local factor—a lot of labour and a lot of the materials are local," he said in the article.

New homes spur local spending on household goods, too, Somerville added.

SFU professor Peter Hall, told BCBusiness that a relatively weak Canadian dollar has helped tourism in the Sea to Sky Corridor. However, the upgraded highway may be the bigger factor in the area's continued economic success.

Third and fourth place have switched positions.

The Township of Langley has claimed third place, up from fourth — the District of North Vancouver's new rank.

"Driven by high household incomes, double-digit population growth and lofty spending on recreational opportunities, these top three cities have remained economically resilient despite their relatively high costs of living," reads the BCBusiness story.

BCBusiness says that to make the call, it examined 10 economic indicators with weightings ranging from 5 to 15%.

These are the same indicators that were used last year, including income growth and housing starts.

Each city received a score out of a total of 100 points and was ranked based on that.

Squamish, By BCBusiness' Numbers

***The weighted value it has in determining the town's rank is displayed in (parentheses)

Average Household Income (10% weight) — $120,897

Average Household Income Under 35 (10%) — $109,554

Five-Year Average Household Income Growth (15%) — 26.7%

Average Household Spending on Recreation (10%) — $6,066

Average Shelter Spending (10%) — $26,950

Average Value of Primary Real Estate (5%) — $881,949

Average Commute Time in Minutes (10%) — 28.1

Five-Year Population Growth (10%) — 14.3%

Housing Starts Per 10,000 Residents (10%) — 249

Unemployment Rate (10%) — 4.9%

This article originally appeared here.

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