• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Techcouver.com

 
 
  • News
  • Interviews
  • Thought Leadership
  • Bulletin Board
  • Job Board
  • About
    • Contact Us
  • Advertise

Federal Government Launches Economic Development Agency Just For B.C.

August 5, 2021 by Techcouver Newsdesk Leave a Comment

The Government of Canada is launching Pacific Economic Development Canada (PacifiCan), a new federal regional economic development agency solely for British Columbia.

To be headquartered in Surrey, the new BC focused agency will start with a budget of $553.1 million over five years, starting in 2021-22, and $110.6 million ongoing.

As a result, in addition to maintaining an office in Vancouver, PacifiCan will expand its reach by establishing new service locations in Victoria, Campbell River, Prince Rupert, Fort St. John, Prince George, Kelowna, and Cranbrook.

“In roundtable discussions across British Columbia, entrepreneurs, innovators, institutions, and community leaders have been clear about the need for more federal resources for investments and community economic development based on their unique needs. The launch of PacifiCan and its expanded footprint is a substantial step in that direction,” said MP Terry Beech regarding the announcement.

RELATED: If The Government Is Going To Play The Role Of Investor, It Needs To Act Like One

There will be two regional development agencies for Western Canada, one for British Columbia and one for the Prairie provinces. Prairies Economic Development Canada (PrairiesCan), replacing Western Economic Diversification Canada (WD), will continue to be based in Edmonton and focus on Alberta, Saskatchewan and Manitoba.

In splitting WD, the government said it “recognizes that economic drivers and conditions are different in each of the two regions, and entrepreneurs, innovators, institutions, and communities have unique needs linked to where they are located.”

Filed Under: News Tagged With: PacifiCan

 
 

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

 

Stay Connected

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter

About Us

Techcouver provides real-time reporting and analysis of emerging technology news in Vancouver and throughout British Columbia. The … READ MORE... about About Us

Copyright © 2023 Incubate Ventures

Privacy Policy