Posted by ReyFort Media
VICTORIA –
Summary
* Government has introduced legislation that would create a $400-million B.C. Strategic Investment Fund
* The proposed fund would allow government to consider loans, equity investments and repayable contributions to allow the province to share in a project’s success
* The legislation is intended to help B.C. compete nationally, attract federal and private-sector investment, and advance provincial priority sectors
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As the Province looks to reduce its reliance on the United States for trade, legislation before the house, if passed, will provide the Province with the tools needed to directly invest in high-impact private-sector projects through a $400-million B.C. Strategic Investment Fund.
“As the federal government looks for projects to boost forestry, defence and shipbuilding, our goal is to make British Columbia businesses are at the front of the line,” said Premier David Eby. “By incentivizing large private-sector projects and participating in the upside, we can make sure people in our province are benefiting through high paying jobs and revenue for stronger services.”
Currently, government’s ability to support private-sector companies is limited to providing grants, with little to no direct revenue upside for the Province.
Other jurisdictions, including Ontario, Quebec, the governments of Canada and the U.S., have more funding flexibility, such as:
* taking equity in companies
* issuing loans
* signing profit-sharing agreements
* providing conditionally repayable grants
These investments can generate significant benefits for these jurisdictions.
This new legislation proposes similar tools, allowing British Columbians to share in the success of projects that receive provincial support.
Moving B.C.’s economy forward
“People and communities across B.C. are at the heart of everything we do to grow our economy,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “With new financial tools, and through our Look West strategy, we can support high-impact private-sector projects, attract federal investment, and advance B.C.’s priority sectors, creating good jobs and protecting the critical services people depend on every day.”
The goal of the Strategic Investment Fund is to co-invest in projects that would be in line to secure up to $20 billion in federal defence investments through Canada’s new Defence Industrial Strategy, as well as critical mineral projects and other major economic endeavours. The fund is a critical tool to help B.C. realize its Look West target of securing $200 billion in new private-sector investments.
This new legislation, and the tools it would provide, is meant to ensure B.C. businesses get their fair share of this funding.
“B.C. companies offer world-class, dual-use abilities that can support Canada’s military commitments,” said Darlene Rotchford, parliamentary secretary for armed forces development and veterans affairs. “This new tool kit complements existing supports for businesses, while building new opportunities to create more good, highly skilled jobs here in British Columbia.”
Building on existing success
The fund would complement existing, successful programs, such as the B.C. Manufacturing Jobs Fund (BCMJF). With $153 million committed so far for 154 projects, the BCMJF has leveraged $1 billion in investment, and created or protected more than 4,800 jobs.
During the construction phase of these projects and in their first few years of expanded operations, the BCMJF is expected to generate $17 billion in new economic activity, nearly $7 billion to B.C.’s gross domestic product, and $714 million in provincial revenue.
This legislation – Bill 3: budget measures implementation act (No. 2), 2026 – builds on the Province’s Look West strategy to deliver major projects, create good jobs and strengthen B.C.’s and Canada’s economic security. (news.gov.bc.ca)
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