Tech a key component of BC’s push for economic diversification

British Columbia is updating its BC Jobs Plan and will launch a renewed BCTECH Strategy this year as part of the province’s efforts to further strengthen and diversify its economy. The 5-Year Update adds advanced manufacturing to its list of key economic sectors and outlines a series of targets for employment and skills training, innovation and competitiveness and trade and exports.

The province launched BC’s Technology Strategy: Building BC’s Economy in 2012 as part of the BC Jobs Plan and renewed it last year with a $100-million fund of funds at its annual BC Tech Summit. This year’s event will also be used to highlight the new targets and further define the role of Dr Santa Ono – president of the Univ of British Columbia and member of the Business Council of Canada’s Business Higher Education Roundtable - as the chief innovation advisor for a new Innovation Network.

In the past five years BC’s economy has demonstrated considerable growth and resiliency, leading the country in economic growth and job creation and increasing exports by 10% to $36 billion annually. The updated plan establishes 25 new targets, six of which fall within the innovation and competitiveness category:

• Increase the number of advanced manufacturers accessing federal defence and security procurement opportunities by 50 companies (20%) by 2020
• Three LNG facilities under construction by 2020.
• Ensure electricity production is 100% renewable or clean by 2025.
• Launch a renewed #BCTECH Strategy in 2017 to grow the entrepreneurial and innovative technology sector.
• Increase the number of tech companies with 10 or more employees by 20% by 2021.
• Expand Mobile Business Licence agreements by more than 50% by 2020.

Targets for employment and skills training include giving all students the opportunity to learn coding by grade 9, increasing aboriginal participation in the workforce by 15,000 by 2024, and partnering with industry to identify and address red tape associated with employment and skills training opportunities in two unspecified growth sectors.

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Learn more about the BC Jobs Plan now