Pacific Economic Development Canada (PacifiCan) will be the new federal regional economic development agency for British Columbia, providing $553.1 million over five years, starting in 2021-22, and $110.6 million ongoing.
“The impacts of Covid-19 have had a ripple effect through our local economy, and we must work together with all levels of government to help businesses recover from this pandemic and continue to prosper in the years to come,” said Mayor Doug McCallum. “Today’s announcement will ensure that our city, and our Province, has dedicated and sustained federal economic development support in place to foster long term economic growth. The selection of Surrey as the headquarters for this important new federal agency is an example of the federal commitment to building Surrey as the second metropolitan centre for the region.”
“The launch of PacifiCan headquarters in Surrey will ensure that our City, and our Province’s innovators, entrepreneurs, businesses and communities have additional federal support to become more economically resilient as we recover from the pandemic,” said Councillor Allison Patton, member of the Investment and Innovation Impact Committee. “This investment in our region will ensure that we can come back stronger, expand our businesses and increase well paying jobs in our region. This is great news for our city, and our Province.”
For more information about Pacific Economic Development Canada (PacifiCan), click here.