New Economic Development initiative to include Prince Rupert office

Prince Rupert is one of a number of British Columbia
communities set to be home to a new office for a
Federal Economic Development initiative

An initiative from Western Economic Diversification Canada will see a number of regional Development offices put in place across British Columbia, with Prince Rupert destined to see one of them, though a little further down the launch process for the program to be known as PacifiCan.

In an announcement last week, the Federal Agency outlined the scope of their initiative and what they hope to achieve as part of its launch in Western Canada.

For the first time in more than three decades, the Government of Canada will enhance its federal economic development presence and services in Western Canada by creating two regional development agencies for British Columbia and the Prairie provinces. This approach 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. 

Pacific Economic Development Canada (PacifiCan) will be the new federal regional economic development agency for British Columbia. It will build on Western Economic Diversification Canada’s (WD) 34 year legacy to work more closely with BC businesses, innovators, and communities; promote connections and investments to foster economic growth; and help organizations navigate federal programs and policies.

The program comes out of the 2021 Federal budget and the Government has allocated $553.1 million dollars over five years starting this year, with a commitment for $110.6 million to come in ongoing funding.

Terry Beech, who serves as the Parliamentary Secretary for the Minister of Economic Development and Official languages outlined how the program came about.

“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.”

In addition to maintaining its current office in Vancouver, PacifiCan will move to establish its new headquarters in Surrey and expand its reach by establishing new service locations in Victoria, Campbell River, Prince Rupert, Fort St. John, Prince George, Kelowna, and Cranbrook.

There's no date stated as of yet for the roll out of those regional offices which is expected to occur over a a period of months ahead.

Once in place, those office will enhance the on-the-ground presence will bring the federal government closer to businesses and the communities they call home. Supporting economic development in more communities will help develop businesses and create good jobs that people can rely on.  

More background on how the new office will serve the Prince Rupert and North Coast area will be released as the office opening gets closer.

The full statement on the launch of the new initiative can be reviewed here.

A look at the Northwest Business sector can be examined here.