Nanaimo British Columbia
Nanaimo is a city on the east coast of Vancouver Island in British Columbia, Canada. The city was formerly understood as the “Hub City”, which has been associated with its initial layout design where the streets radiated out from the coastline like the spokes of a wagon wheel, as well as its usually centralized location on Vancouver Island.
The original economic chauffeur was coal mining; nevertheless, the forestry market supplanted it in the early 1960s with the structure of the MacMillan Bloedel pulp mill at Harmac in 1958, named after Harvey MacMillan. Today the pulp mill is owned by the staff members and local financiers and injects well over half a million dollars a day into the regional economy. The largest company is the provincial government. The service, retail, and tourist industries are also big contributors to the regional economy.
Technological advancement on Nanaimo has actually been growing with businesses such as “Inuktun” and the establishment of government-funded Innovation Island as a site to help Nanaimo-based technological startups by offering them access to tools, education, and equity capital.
The typical list price of homes in Nanaimo for 2011 was roughly $350,000. A recent surge of higher-density real estate development, centered in the Old City/Downtown location, as well as the building of a city-funded waterside conference center, has proven controversial. Supporters of these developments argue that they will reinforce the city’s economy, while critics stress that they will block waterfront views and increase traffic congestion. Issues have also been raised about the waterfront conference center’s building and construction running over its suggested budget plan. Nanaimo has likewise been experiencing job development in the innovation sector.
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