Proponents wanting to develop a technology hub in Townsite are asking city council for a $200,000 grant from the Powell River Community Forest fund.
The hub, proposed by School District 47’s non-profit Powell River Education Services Society, Vancouver Island University, Powell River Makerspace and City of Powell River, will serve as a business incubator and accelerator for technology-related startups. If funded, it will be located inside an 8,000-square-foot space at Townsite Market, which is currently under renovation at the old mill stores location.
The buildout has a budget of approximately $309,000. Remaining costs over and above the $200,000 grant ask will be divided between the four proponents, according to the proposal. Powell River manager of economic development Scott Randolph, School District 47 superintendent Jay Yule and Vancouver Island University’s Powell River campus administrator Greg Cran presented to the city’s finance committee on Thursday, March 23. The committee agreed to have council write a letter of support for the project.
Factors such as the city’s fibre-optic connection and Vancouver’s high cost of living have created conditions ripe for Powell River to establish its own technology sector, according to Randolph.
“We feel there’s an opportunity to start looking at how we start supporting the growth of the industry here,” said Randolph. “We’ve already seen it starting to grow.”
Cran said changes to United States immigration policy is causing uncertainty for work visa holders working in California, forcing Silicon Valley companies to look to Canada to set up satellite offices for its diverse workforce.
The hub will also help establish an entrepreneurial climate and culture for aboriginal and non-aboriginal youth in Powell River by offering training and educational opportunities in clean technology, music and digital arts, said Cran.
“If we can get the space up so people can see its potential,” he said, “that’s when we’ll start to see the change.”
Townsite Market owner and developer Steve Brooks said the technology hub fits well with his plans for the building. He said he has been working for several years to encourage more technology-related jobs in Powell River.
“This is indeed a hugely important initiative and a game-changer for the community,” said Brooks.
Incubators help startups with business consultation and support, space for face-to-face mentoring and shared use of common equipment and other resources. Accelerators enable already established businesses to grow through mentorship and provide access to business-related support.
“There is a window to set up tech hubs with incubation and acceleration space, but also satellite office space for the larger companies that want to relocate some of their younger staff who want to start a family and buy a house,” said Brooks. “It’s a win-win for everyone.”
Brooks said he has strived to create a building that will strike a balance between entertainment, market and local artisan space, and now a world-class technical facility capable of attracting international firms. The building also includes Powell River’s publicly funded indoor climbing wall, set to open this fall.
