Last year the federal government floated the idea of a new economic development agency in sa国际传媒, and on Thursday Economic Development Minister Melanie Joly turned it into reality.
Pacific Economic 颅Development sa国际传媒 鈥� they are calling it PacificCan 鈥� will be headquartered in Surrey, with satellite offices in Victoria, Campbell River and five other cities around the province. It will take over economic development in sa国际传媒 from Western 颅Economic Development, but with a different mandate.
Joly said one of the priorities established when Ottawa considered economic development was dealing with the 鈥渋njustice we saw over the years, the fact there was not as much resources and support throughout sa国际传媒 compared to other regions.鈥�
鈥淭hat had to be changed,鈥� she said, echoing her assertion over the last year that this new agency would be built in sa国际传媒 for sa国际传媒
Joly and her staff spent several months meeting with representatives in all regions of the province to determine what they would like to see out of the entity that would replace the 34 year-old Western Economic Diversification.
Joly said sa国际传媒 is unique and the agency must be tailored to it, and that meant being designed for small- and medium-sized businesses and entrepreneurs all over the province.
The mandate will be to help create and maintain jobs, ensure communities can grow and develop new projects and open up the globe to aspiring companies.
For Vancouver Island, there will be teams installed in places such as Victoria and Campbell River to help small businesses find funding and expand their reach by opening the doors to export programs and the like.
鈥淚t becomes a tool to navigate the maze of the federal government,鈥� she said.
With a budget of $550 million over the next five years, and $110 million in ongoing funding, satellite offices and new staff will be established this fall. Joly hopes they will be functioning by the end of the year.
鈥淭his is not for big business, this is for small business, it鈥檚 for start-ups and those growing bit by bit, or are part of the supply chain of big business,鈥� she said.
Sam Fisher, chief executive of gaming studio Hyper Hippo in Kelowna, said having a federal agency they can walk into will improve communication between business and government.
鈥淚t鈥檚 important for understanding in terms of what business needs from the federal government and what they need from sa国际传媒 companies to help their 颅programs succeed,鈥� he said.
To achieve the country鈥檚 potential requires a 鈥渘ew spirit of collaboration between business and government,鈥� Fisher said.
Joly said the success of PacificCan would be 颅measured by the satisfaction of the 颅province鈥檚 entrepreneurs.
South Island Prosperity Partnership chief executive Emilie de Rosenroll said sa国际传媒鈥檚 new agency, and its regional development cousin for the Prairies, is excellent news and recognizes sa国际传媒鈥檚 economic drivers and challenges
鈥淢inster Joly鈥檚 announcement has the potential to have a significant impact on the economic recovery and resilience needed in the capital region to move along a path of a sustainable and diverse post-pandemic economy,鈥� said Greater 颅Victoria Chamber chief executive Bruce Williams. 鈥淏y creating two offices on Vancouver Island, the federal government shows it recognizes the unique opportunities and challenges of our Island economy.鈥�
