A new report released today shows that the Metro Vancouver Commerce 2010 Olympic Business Program was a huge success in strengthening the region’s local economy, bringing a total of $306 million in new investment and creating 2,558 new jobs.

Nine Metro Vancouver municipalities, including Olympic host city Vancouver, partnered with the Government of Canada on Metro Vancouver Commerce, an innovative Olympic business program that saw 64 international companies come to Vancouver in February 2010 to land agreements for new jobs and investment in the region.

“Our priority going into the Olympics was ensuring we secured long-term benefits for our City, and it’s clear that our Olympic business program did just that,” said Mayor Gregor Robertson.

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A staff report coming to Vancouver city council next week proposes setting aside two acres of 688 Cambie Street (the former Greyhound Bus depot site and Olympic Downtown Live Site) for the development of a cultural hub and public plaza, which could include the relocation and expansion of the Vancouver Art Gallery.

“The exciting thing about this proposal is that it’s not just about the potential for a new cultural space, but also about the design and use of public space downtown,” said Mayor Gregor Robertson. “This site was the home for the Olympic Downtown Live Site and Four Host First Nations, and we want to create a lasting cultural and economic legacy from the success we saw during the Games.

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With Wednesday’s agreement between the City and Millenium to appoint Ernst and Young Inc as the receiver for the Olympic Village, the project now has more financial stability, said Mayor Gregor Robertson, which will help mitigate risk for city taxpayers.

“With Ernst and Young Inc in place, the months of uncertainty around the Village are gone and we can move forward with a new, robust marketing plan,” said the Mayor. “The receiver has already met with Bob Rennie and I know both are working hard to move ahead to the next round of sales. The Village is a great asset and an award-winning neighbourhood, and we need to stay focused on the long-term picture.

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Mayor Gregor Robertson outlined again the challenges the City faces with the Olympic Village project today, as well as his expectations for the project moving forward.

“The combination of a soft housing market, the uncertainty with the HST, and a number of poor decisions from the previous council have created several challenges for the Olympic Village,” said Mayor Gregor Robertson. “Since day one we have taken a methodical, business-like approach to bring stability to this project.

“We put a new oversight team in place. We brought in some of the best financial and legal advisers in the country to help us work through this.

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Vancouver Mayor Gregor Robertson has concluded a successful 12-day official visit to China. Mayor Robertson’s main focus during his trip was the first-ever Vancouver Green Capital Business Mission to Shanghai, where he was joined by executives of 22 local companies from the clean tech, digital media and green building sectors.

Mayor Robertson travelled to Beijing, Shijiazhuang, Baoding, Shanghai, Tianjin, Guangzhou and Hong Kong where he met with high-level government officials and Chinese business leaders to promote trade and investment in Vancouver.

Three Memoranda of Understanding (MOUs) were signed during the Mayor’s visit. The first is an agreement between the City of Vancouver and global network giant Cisco Systems, which will position Vancouver as a global smart city by deploying energy monitoring controllers combined with software from Vancouver-based company Pulse Energy.

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Granville Street will turn green this weekend with AstroTurf stretching from curb to curb in the 700 block and the Canadian Olympic badminton team joining buskers, dancers and drummers for the first weekend of a summer-long, car-free celebration on the re-designed street.

“We saw during the Olympic Games how people came together, had a great time and enjoyed festivities on Granville,” Mayor Gregor Robertson said. “As a legacy from the Games, we are creating a car-free space where people can come and enjoy summer in the heart of the city.”

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