Foreword – Mike Schilling

Community Savings Credit Union is a leading financial institution that is committed to building a better British Columbia for all.
We firmly believe that to create a more prosperous British Columbia, we must first build an inclusive and equitable one. By providing opportunities for all people in our province to learn new skills, find work and participate fully in our society, we will in turn build an economically resilient province that will benefit everyone.
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The Community Benefits Agreement is one such opportunity

First introduced in 2018, the CBA program is designed to enable BC’s construction sector to meet the province’s long-term needs. Accounting for 9% of BC’s GDP and employing nearly a quarter of a million workers, the construction industry is crucial to the BC economy. Yet, of the nearly 250,000 workers employed by this industry, only 14% are women, 6% are Indigenous, and just 12%of the workforce is under the age of 25.

The CBA program is created to address these systemic inequities, while upskilling and training a new labour pool. It aims to increase access to the construction workforce for women and Indigenous peoples, upskill the existing labour force, increase apprenticeship opportunities, and provide greater workforce stability.

However, concerns remain about the cost of the program. The province has estimated that the cost of tendered contracts on CBA-designated projects may increase by 4-7% as result of the program’s employment requirements.

As a purpose-led financial institution we see this as an investment in the BC economy and the BC construction sector that pays off.

The social and economic capital created by harnessing BC talent – regardless of race or gender – cannot be overstated. By investing in our own people and talent, the CBA program looks to build equity in our working communities. This will have a generational impact on the prosperity of British Columbians.

The socioeconomic benefits of the CBA program have taken on an added layer of purpose and meaning. When Community Savings Credit Union initially commissioned this report in early 2020, we didn’t expect British Columbia, and the rest of the world, to be affected by a global pandemic. However, if anything the pandemic has only reinforced the importance of conducting this report.

While the long-term impacts of COVID-19 are still yet to be fully understood, finding solutions to invest in the British Columbian economy – and the people who live in it – has never been more important.

In the long run the CBA program will pay for itself, and British Columbians will be the ones who benefit.

Mike Schilling
President & CEO, Community Savings Credit Union