In a world powered by innovation, action is needed to ensure that BC construction companies are ready to meet the challenges ahead.
It’s hard to overstate the importance of construction to BC’s economy. As a $16.5 billion dollar industry, it provides 8% of the province’s GDP and employs more than 200,000 workers, making construction one of BC’s largest employers. This means innovation is vital for the continued prosperity of the province.
Factors such as an aging population, climate change and the digital design revolution are changing the needs and expectations of regulators, clients and end-users and also putting pressure on the industry to integrate new ideas, technologies and specifications into their projects.
BC construction firms will have to adapt and innovate or risk being left behind. Although BC is strong in green building and wood technologies, we have catching up to do in other areas. Public and corporate investment in innovation in BC lags behind other highly developed countries. The mechanisms for knowledge sharing and collaboration outside of projects do not exist. Fundamentally, the industry has not fostered a culture of innovation that transcends day-to-day problem solving on a construction site.
This report makes the case that engaging pro-actively with innovation can have a positive impact on business and the ability of businesses of all sizes to succeed. It outlines the key challenges that have to be overcome and highlights the need for a “made-in-BC” construction innovation action plan that can serve as a model for the rest of the country.