Question Period Note: NEW REGIONAL DEVELOPMENT AGENCY FOR BC

Why did the Government of Canada create a separate regional development agency for British Columbia?

• British Columbia (BC) has a distinct economy with unique strengths and challenges, and PacifiCan is an investment in the economic future of British Columbians.

• The pandemic, wildfires and now floods have ripped through our communities, businesses, farms and families, challenging us all.

• That’s why we are laser-focused on economic recovery. For the very first time, BC businesses, innovators and communities have a dedicated federal economic development partner in this effort.

• We are building PacifiCan with input from British Columbians. Over the past year, community leaders told us they wanted a more active partner with greater on-the-ground presence across the province. We listened.

• Budget 2021 provided $553.1 million over five years, starting in 2021-22, and $110.6M on an ongoing basis, for the new Agency.

• This expansion is about connecting communities and sectors across the province to enhanced services and high-impact investments. It is about building a new economic development agency for BC, in BC.

On August 6, 2021, Western Economic Diversification Canada (WD) was split to create two new regional development agencies – Pacific Economic Development Canada (PacifiCan) and Prairies Economic Development Canada (PrairiesCan).

In recognition of the unique economic realities in British Columbia and across Western Canada, the government committed, in the 2020 Fall Economic Statement, to create a new regional economic development agency for British Columbia with new dedicated funding.

Existing core program funding from Western Economic Diversification Canada will remain for the Prairies, making additional support available for businesses in Alberta, Saskatchewan, and Manitoba.

• Over the coming months, in addition to delivering economic recovery programs, we will expand beyond our existing office in Vancouver with new service locations in Victoria, Kelowna, Campbell River, Prince Rupert, Prince George, Fort St. John, Cranbrook, an Ottawa liaison office and Surrey, which will become our headquarters.
• Establishing a BC regional economic development agency with new dedicated funding will help businesses and communities continue to grow and create good jobs across the province.

• The establishment of PacifiCan will improve the ability to tailor service offerings to local needs, allowing for targeted supports across the west.

• An enhanced on-the-ground presence enables the agency to build a more focused, locally informed federal approach to economic development that is more responsive to opportunities and challenges in communities. These changes will encourage business growth and community resilience as the new agencies play stronger roles as convenor, pathfinder, investor, and advisor.