New Westminster experiences surge of development
City and Chamber to host Economic Forum – November 8, 2012

New Westminster, BC – Once its downtown was referred to as The Golden Mile and it was the economic powerhouse of the region. Today, New Westminster is again a city on the rise, experiencing a surge of economic development and growth at the geographic centre of Metro Vancouver.

In fact in 2011, compared to the rest of Metro Vancouver, New Westminster had the greatest building permit value per square km -- $15,120,960/sq. km. The development is in keeping with growth projections for the city. By 2031, New Westminster’s population is expected to surpass 90,000 residents, a substantial increase from today’s population of 65,000, with a significant portion of that growth concentrated in the historic downtown area.

Already, new businesses are moving to the Royal City to take advantage of the growth. BC’s first Lowe’s Home Improvement store has opened in Queensborough and a new downtown retail development has opened at Plaza 88, which is integrated with the New Westminster SkyTrain Station and features Landmark Cinemas, Safeway, Shoppers Drug Mart and others. Early next year, TransLink will move their corporate offices to the new Brewery District in Sapperton while downtown, construction continues on a new multi-use civic centre and office tower to deliver over 130,000 square feet of class A LEED Gold office space directly across the street from SkyTrain.

This resurgence has prompted the City of New Westminster and New Westminster Chamber of Commerce to host the ‘New New West Economic Forum’ on November 8, 2012.

“We’re very excited to partner with the City on this initiative,” says Chamber of Commerce president Andrew Hopkins. “New Westminster has experienced tremendous growth over the past decade and this is a great opportunity to hear from some of the key players behind the success.”

Presented by Westminster Savings Credit Union and supported by sponsors Avison Young Intelligent Real Estate Solutions and Wesgroup, the economic forum will feature Rennie Marketing Systems Principal Bob Rennie giving the keynote address along with speakers from a range of sectors. Each speaker will shine a light on why New Westminster offers a competitive advantage for those seeking investment or expansion opportunities at the centre of western Canada’s largest market.

“The New New West Economic Forum 2012 will feature leaders in retail, health care, education, real estate and demographics, sharing their views on key issues and trends influencing the regional economy into the future,” said Mayor Wayne Wright. “New Westminster’s position and economic advantages will be a key focus of the event and I look forward to seeing everyone there.”

-30-

Contacts:            
Mitchell Edgar, Economic Development Manager
City of New Westminster
or 604-527-4536

Cori Lynn Germiquet, Executive Director
New Westminster Chamber of Commerce
corilynn@newwestchamber.com or 604-521-7781

For more information on the economic forum ticket details, go to www.investnewwest.ca