The Metro Vancouver region is well positioned to lead the next global wave of clean transportation, but risks losing firms that are growing and successful if barriers to investment and future industry growth are not urgently addressed, according to a new report from Invest Vancouver.
The report, Clean Transportation: Findings and Actions to Strengthen the Sector in the Metro Vancouver Region, identifies 13 recommendations informed by input from leaders in clean transportation. Three key priorities are highlighted: modernizing and streamlining the permitting process, improving access to highly limited industrial space, and supporting a hydrogen hub to accelerate industry growth.
The report also notes the growing strength of the industry. Within the last five years, the 60 export-oriented firms identified in the report attracted more than $2.6 billion in capital investment to the region.
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