Refugees starting new lives in B.C. good for economy, says report

A report published Wednesdaysays Syrian refugees will contribute at least $563 million to the B.C. economy in the next 20 years.

More than 2,500 refugees are expected to arrive in B.C.in the next few months, 400 of whom will arrive this year. Service providers in the province have been gearing up in anticipation.

Vancity, whichreleased the reportcalledFrom Crisis to Community: Syrian Refugees and the B.C. Economy, is joining in withseveral new initiatives designed to help refugeesonce they arrive in B.C and itsays that's good for the province.

• Read more: Refugees in B.C.
• MAP | See where B.C.'s refugees come from

"These folks tend to want to get settled into the community, get working for themselves and their families as quickly as possible.They pay taxes.They buy goods. All of that adds up to economic growth for our province," said Tamara Vrooman, President and CEO of Vancity Credit Union.

Starting from scratch

Vrooman says the report's authors, researchers from SFU, found that refugees tend to spend a lot of money in order to get on their feet after arriving.

"They tend to spend a greater percentage of their income. They're establishing themselves, they're getting their kids and families into community programs, sports programs, art programs."

It's tough going in the beginning, she said.

"Refugees have to really start from scratch. So yes that is a cost in the early days, but it also gives us great benefit."

Vancity members have said they want to help refugees, and Vrooman says the credit union's new programs will encourage exactly that.

Starting today, Vancity is offering $50,000 loans, interest free for seven years, to help Vancity members renovate their homes and take in a refugee family. Refugees are eligible for a $10,000 interest-free loan.

Changing the debate with evidence

Vrooman says there is also a desire within Vancity to contribute to discussion on whether refugees are good for the province.

"We really wanted to change the debate, with some real evidence, the positive things that happen when we welcome newcomers to this community."

"The quicker that we can help them with retraining opportunities, with learning English as a second language, with supporting their kids to get integrated and included in the community, the better they are able to get participating in the economy," she said.
"And we think that's what we need for the future of our province."

To listen to the full audio, click the link labelled: Syrian refugees expected to boost B.C. economy.