The city of Langley boasts of low business and living costs. According to KPMG’s Competetive Alternatives Study in 2004, Langley (and Western Canada) has around 8% to 9% lower costs of labour, utilities, transportation, and taxes compared to the United States. Office space, housing, and land costs in the city are much lower. Langley’s housing costs are around 60% lower than Vancouver, with retail leasing costs of about ten times less than Downtown Vancouver. Langley is considered the financial hub for the Fraser Valley, and many can choose from among the lending institutions situated in the city, such as: Envision, Vancity, HSBC Canada, CIBC, Coast Capital Savings, the Bank of Montreal, TD Canada Trust, and RCBC Financial.
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Langley is located in the Lower Mainland or Southwest BC
The City of Langley is a municipality of Metro Vancouver. It started as a settlement area of early European settlers known as the “Innes Corner” (named after the homesteader, Adam Innes). The area became known as “Langley Prairie” in 1911, and many small communities formed and became the “Langley Township.” However, the City of Langley decided to separate from this in order to follow its urban development It became a municipality in 1955.
