Supporting information on the program inventory
Supporting information on planned expenditures, human resources, and results related to Pacific Economic Development Canada's (PacifiCan) program inventory is available in the GC InfoBase.
Program 1.1: Innovation
Description
Introducing innovative new products, technologies or improvements to existing processes enhances business growth and competitiveness in global marketplace. PacifiCan’s Innovation programming makes strategic investments with British Columbian businesses, industry organizations and post secondary institutions to enhance business innovation through research and development, and technology commercialization.
| Expected results | Performance indicators | Target | Date to achieve target | 2021–22 actual results | 2020–21 actual results | 2019–20 actual results |
|---|---|---|---|---|---|---|
| British Columbian businesses are innovative | Business sales growth resulting from commercialization ($) | $77.8M | March 31, 2024 | $50.3M | $290.9M | $150.3M |
| British Columbian businesses are innovative | Number of HQP1 (including STEM2) jobs created | 488 | March 31, 2024 | 346 | 523 | 520 |
1 HQP = highly qualified personnel.
2 STEM = science, technology, engineering and math.
| 2023–24 Planned spending |
2024–25 Planned spending |
2025–26 Planned spending |
|---|---|---|
| 31,048,409 | 31,147,507 | 29,357,066 |
| 2023–24 | 2024–25 | 2025–26 |
|---|---|---|
| 25 | 25 | 25 |
Program 1.2: Business Growth
Description
The Business Growth Program has two domains that support British Columbian businesses, industry and research organizations to enhance their productivity, participation in global markets, and competitiveness. Trade, Investment and Market Access domain increases British Columbia’s participation in global markets, increasing awareness of British Columbia’s technology capabilities abroad and attracting foreign investment to the region. The Business Productivity domain supports businesses, not for profit organizations and industry in initiatives to enhance productivity, competitiveness and the growth of businesses.
| Expected results | Performance indicators | Target | Date to achieve target | 2021–22 actual results1 | 2020–21 actual results | 2019–20 actual results |
|---|---|---|---|---|---|---|
British Columbian businesses are competitive and export their products/services |
Export sales growth ($) | $247.7M | March 31, 2024 | $687.9M | $37.6M | $53.6M |
British Columbian businesses are competitive and export their products/services |
Number of jobs created | 448 | March 31, 2024 | 3,100 | 1,018 | 1,289 |
1Results are based on active projects reporting during the 2021-22 fiscal year and are not cumulative from previous years. Consequently, trends analysis would not be an accurate way to assess these results.
| 2023–24 Planned spending |
2024–25 Planned spending |
2025–26 Planned spending |
|---|---|---|
| 80,268,666 | 51,447,788 | 50,382,590 |
| 2022–24 | 2024–25 | 2025–26 |
|---|---|---|
| 63 | 56 | 56 |
Program 1.3: Business Services
Description
The Business Services program consists of six Western Canada Business Service Network (WCBSN) members, which are independent organizations that receive financial support from PacifiCan to provide services to prospective and current entrepreneurs to help start, grow or expand small businesses across British Columbia. WCBSN members include:
- Community Futures (CF);
- Women's Enterprise Initiative (WEI);
- Indigenous Business Development Services;
- Francophone Economic Development Organizations;
- Entrepreneurs with Disabilities Program; and
- Small Business Services.
| Expected results | Performance indicators | Target | Date to achieve target |
2021–22 Actual results |
2020–21 Actual results |
2019–20 Actual results |
|---|---|---|---|---|---|---|
| British Columbian businesses have access to advisory services and capital | Employment growth of PacifiCan supported firms (percentage)1 | 5.0% | March 31, 2024 | 6.97% | Not available3 | Not available3 |
| British Columbian businesses have access to advisory services and capital | Value of loans disbursed ($)2 | $40M | March 31, 2024 | $50.5M | $69.7M | $39.1M |
1 Community Futures (CF) organizations only.
2 Aggregate of CF and WEI business loans data.
3 Actual results data were not available for British Columbia only.
| 2023–24 Planned spending |
2024–25 Planned spending |
2025–26 Planned spending |
|---|---|---|
| 43,157,159 | 18,353,830 | 17,347,810 |
| 2023–24 | 2024–25 | 2025–26 |
|---|---|---|
| 44 | 40 | 40 |
Program 1.4: Community Initiatives
Description
The Community Initiatives program provides targeted funding to support economic development activities in communities across British Columbia. Programming in this area is often through dedicated, temporary supplementary funding from the Government of Canada or through the department's own special allocations in response to the specific challenges that affect British Columbian communities. It also provides community funding in British Columbia to build and renew infrastructure in rural and urban municipalities across Canada, allowing them to compete in the regional, national and global economy.
| Expected results | Performance indicators | Target | Date to achieve target |
2021–22 Actual results |
2020–21 Actual results |
2019–20 Actual results |
|---|---|---|---|---|---|---|
| British Columbian communities have necessary public infrastructure and adjustment support to promote economic growth | Number of communities benefitting from infrastructure projects | 0 | March 31, 2024 | 0 | 40 | 0 |
| British Columbian communities have necessary public infrastructure and adjustment support to promote economic growth | Number of businesses created, maintained, or expanded | 964 | March 31, 2024 | 16,641 | 9,581 | 61 |
| British Columbian communities have necessary public infrastructure and adjustment support to promote economic growth | Number of jobs created or maintained | 4,445 | March 31, 2024 | Not Available1 | Not Available1 | Not Available1 |
1 Actual results data for this indicator were not available for British Columbia.
Planned budgetary financial resources (dollars)
| 2023–24 Planned spending |
2024–25 Planned spending |
2025–26 Planned spending |
|---|---|---|
| 12,670,983 | 5,390,315 | 4,739,361 |
| 2023–24 | 2024–25 | 2025–26 |
|---|---|---|
| 7 | 3 | 3 |
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