Goals, Objectives, Strategies and Results

Overview

Ministry Goals

The ministry has developed the following three goals:

1. British Columbia is recognized globally as a preferred place to live, work, invest and do business, and as a key gateway for commerce on the Pacific Coast.
2. All British Columbians live in prosperous regions and are able to achieve their economic potential.
3. British Columbia hosts a successful 2010 Olympic and Paralympic Winter Games to create a legacy of economic benefits for the province.

Linkage to the Five Great Goals

A healthy and robust provincial economy will provide needed resources to assist government in achieving all of the five Great Goals for a Golden Decade. The ministry specifically leads Goal 5 — To create more jobs per capita than anywhere else in Canada and directly supports Goal 1 — To make British Columbia the best educated, most literate jurisdiction on the continent.

The ministry will work towards Goal 5 — To create more jobs per capita than anywhere else in Canada by:

• implementing an Asia-Pacific Strategy to capitalize on expanding Asian markets and positioning British Columbia as a key gateway for commerce on the Pacific Coast;
• facilitating economic growth and business competitiveness throughout the province;
• leveraging federal, provincial and private sector funding to address the infrastructure needs of our regional economies;
• implementing a labour market strategy to address key skill shortages in the province; and
• maximizing economic opportunities before, during and after the 2010 Olympic and Paralympic Winter Games.

The ministry will contribute towards Goal 1 — Make British Columbia the best educated, most literate jurisdiction on the continent by identifying British Columbia’s labour market shortages and building skills capacity that will improve the province’s ability to compete in the national and international marketplace. The ministry works with partners, such as the Industry Training Authority to support and promote an industry-driven system for training and apprenticeship.

The ministry’s efforts in promoting economic growth, creating jobs, generating revenues, increasing trade and attracting investment, will directly support the provincial government’s other three great goals so that British Columbia will lead North America in healthy living, build the best support system in Canada for persons with disabilities, special needs, children at risk and seniors, and lead the world in sustainable environmental management.

Cross Ministry Initiatives

Asia-Pacific Strategy

The ministry leads the Asia-Pacific Strategy to ensure that British Columbia has a coordinated and targeted initiative in place that takes full advantage of Asian market growth opportunities and B.C.’s Asian cultural and language base. The ministry will undertake to expand and diversify strategic Asia-Pacific commercial opportunities including increasing Asian foreign direct investment in the province and will work to ensure that B.C. takes advantage of potential immigration actions to increase our labour force and strengthen Asia Pacific ties.

The ministry works with many ministries and agencies to support the Asia-Pacific Strategy. For example, the ministry works with the Ministry of Transportation to ensure that British Columbia has the transportation network in place to have the capacity to meet increased trade demands with Asian markets. The Ministry of Economic Development also works with the Ministry of Forests to strengthen the forest sector markets and actively promote Canadian wood products and construction techniques in Asia-Pacific economies. Another key initiative is with the Ministry of Attorney General and Minister Responsible for Multiculturalism, to ensure cultural and social linkages are established with the Asia-Pacific region by increasing immigration to British Columbia. The ministry also works with the Ministry of Advanced Education and Ministry of Education to expand educational linkages with Asia-Pacific nations.

By expanding the Asia-Pacific gateway infrastructure and strengthening ties with Asian markets, British Columbia will realize increased investment, trade, commerce, tourism, education opportunities and immigration of skilled labour.

2010 Olympic and Paralympic Winter Games

The British Columbia Olympic and Paralympic Winter Games Secretariat is the Province’s primary agency for the 2010 Winter Games. The Secretariat provides the strategic leadership, coordination and oversight to ensure the Province meets its financial, infrastructure and service commitments for the Games. The Secretariat also has a key role in ensuring the development of sustainable economic and social opportunities in association with hosting the Games.

The Secretariat’s strategy builds on the experience of previous host nations, fully engages B.C. businesses and B.C. communities and coordinates activities with other key players including various ministries, Crowns, agencies, and partners of the Olympic Multi-Party Agreement.

To facilitate the successful hosting of the 2010 Winter Games, the Secretariat has been working diligently with all Provincial ministries, agencies, and Crowns directly or indirectly related to the Games. The Secretariat will work with these groups to ensure that all available opportunities to develop sustainable economic, social, cultural and sport legacies are explored and pursued so that every community in British Columbia has the opportunity to receive benefits from the 2010 Winter Games.

First Nations

The province is forging a new relationship with Aboriginal Peoples, founded on reconciliation, recognition and respect. Vast economic opportunities exist amongst Aboriginal Peoples, within their communities, and in the broader regional and provincial economies. The ministry works with the Ministry of Aboriginal Relations and Reconciliation (MARR) to increase Aboriginal Peoples’ participation and prosperity in British Columbia’s economy as well as work towards developing a business climate that provides more certainty and clarity to proponents when addressing Aboriginal People’s interests and legal requirements. To this end, the ministry is taking an active role in the several areas including:

• Directly supporting the Four Host First Nations Olympic Secretariat to facilitate the participation and inclusion of First Nations in the 2010 Winter Games;
• Assisting Aboriginal Peoples in developing economic opportunities on their own or in conjunction with non-aboriginal proponents;
• Facilitating and coordinating a range of economic development initiatives, including effective economic opportunity partnerships and relationships that will directly or indirectly benefit Aboriginal Peoples;
• Working with other Ministries on major projects to ensure that Aboriginal interests are addressed in a timely and efficient manner;
• Working with MARR, the Ministry of Tourism, Sport and the Arts, Aboriginal Tourism BC, Tourism BC and other stakeholders to facilitate partnerships and support the implementation of an integrated Aboriginal Cultural Tourism Blueprint Strategy for B.C.;
• Participating in the development of the New Relationship policy framework; and
• Assisting companies in developing ways to effectively engage Aboriginal Peoples in the development and review of their project initiatives.

Mountain Pine Beetle

The Ministry of Economic Development will develop and implement a provincial community economic diversification strategy that is coordinated with the Ministry of Forest and Range’s Emergency Response Team and with regional community coalitions to minimize economic impacts on Mountain Pine Beetle affected areas.

Regulatory Reform

The Ministry of Economic Development will work with the BC Competition Council to examine government and private sector issues affecting industry competitiveness, including regulatory issues.

In particular, the Council will examine policies, legislation and regulations at all levels of government to determine whether these are pragmatic, efficient and balanced. Government regulations in areas such as land use, transportation, environmental protection, and workforce recruitment will be assessed with a view to improving the efficiency and effectiveness of government regulation of industry without acting as a disincentive to investment.

The ministry also leads the province’s participation in the Council of the Federation’s internal trade initiative to identify options for ministerial review on accelerating the harmonization of standards and regulations, and preventing new barriers stemming from regulatory activity.

In addition, the ministry leads the initiative to establish a comprehensive trade, investment and labour mobility agreement with Alberta. A significant amount of work on this agreement has focused on reconciling, through mutual recognition or by other means, standards and regulations that impair or impede trade, investment or labour mobility in or between the two provinces.

ActNow BC

The Ministry of Economic Development participates in the provincial ActNow BC initiative aimed at supporting individuals and communities to protect and improve their health through several programs including:

• Major Post-Secondary Sports Training Facilities Initiative, a $60-million program to support the development of four sports training facilities at post-secondary institutions across British Columbia.
• Olympic/Paralympic Live Sites Program, a $20-million program to ensure that a share of the benefits of hosting the 2010 Olympic and Paralympic Winter Games are made available to residents of the province, beyond the immediate Olympic-venue towns and cities, while also providing communities with legacies of continuing economic value. The majority of program funding will be directed towards building or improving sport and recreational facilities.
• Canada/British Columbia Infrastructure Program, a five-year federal/provincial program designed to fund community infrastructure, including recreational facilities that provide for better health and quality of life. The program funding is fully committed and all projects are to be completed by March 31, 2008. In 2004/05, the Province committed about $10 million under this program towards projects that support the ActNow BC objectives.

Labour Market and Trade

In addition to these cross ministry initiatives, the ministry is also responsible for implementing provincial strategies on labour markets, the economy, and a new approach to trade. The goal of the labour market strategy is to remove barriers that limit efficient functioning of the labour market and to ensure that the skilled labour needs of a growing B.C. economy are met. An important component of the strategy is recognizing that immigration is a key source of labour force growth in British Columbia. The provincial economic strategy will build on the economic initiatives implemented to date by government to continue to ensure that conditions are in place to support continued provincial economic growth.

By leading the development and implementation of the province’s trade policies, including negotiations, the ministry will work to reduce or eliminate barriers to trade, investment and labour mobility. The ministry will develop a new approach to international trade policy, which will include seeking expanded trade market access for British Columbia exporters in areas falling within the province’s jurisdiction (e.g., services, standards and procurement). These initiatives will be pursued directly with foreign jurisdictions as appropriate, in conjunction with the federal government. New trade and investment opportunities will advance the growth of skilled, diversified and well-paying jobs for British Columbians.

Performance Plan

This goal focuses on strategic marketing and promotion to distinguish British Columbia from its competitors and to communicate the province’s advantages and opportunities to potential immigrant skilled professionals and business investors.

This objective focuses on maximizing the benefits of immigration by attracting and retaining immigrants and enabling permanent resident status for skilled professionals and business investors who are best able to contribute to British Columbia’s economy.

Performance Measures:

Number of new immigrant investors and value of their investments. The Provincial Nominee Program (PNP) is designed to increase the economic benefits of immigration to the province by selecting immigrants based on their ability to contribute to the economy. This particular measure gauges the benefits of financial investment generated from new immigrants in the PNP investor category.

Number of new immigrants attracted to B.C. as business immigrants or skilled workers. This measure gauges the expedited entry of skilled immigrants into the British Columbia economy. As one of the Business Immigration categories, applicants are required to make an investment of $400,000 in a Government of Canada Fund.

This objective is aimed toward promoting the province’s advantages and opportunities in order to increase trade and investments in high-growth, high-opportunity sectors. The ministry will also focus on facilitating capital investment projects, particularly in the regions. FDI contributes to job creation, capital investment, productivity growth, and innovation, which in turn supports economic growth.

Performance Measure

Number of investment leads identified by in-market representatives. The ministry will engage in-market representatives in key foreign markets to undertake investment attraction and trade promotion activities on behalf of British Columbia. This measure represents the number of foreign direct investment leads identified by these in-market representatives. An investment lead is defined as a company that has an investment project planned, a short list of locations, a budget assigned and a project lead.

1	Target is based on deployment of 8 in-market representatives per year.

Increasing the amount of venture capital available to British Columbia small-and mid-sized businesses enables them to grow and compete in fields requiring intensive research and development. Venture capital will allow companies to increase diversification and enhance their economic performance. In addition, the ministry efforts in repealing outdated and obsolete legislation and regulations makes it easier and more efficient to raise capital, invest and do business in British Columbia.

Performance Measure:

Venture capital growth in the province year-over-year. This measure gauges how innovative small businesses continue to have access to capital and to attract investment capital from outside of the province.

This goal focuses on maintaining a competitive business environment, increasing diversification of regional and provincial economies, providing infrastructure for a growing economy and responding to the demand for skilled labour.

This objective focuses on fostering economic growth and diversification and improving the province’s business competitiveness in all provincial regions and sectors. The ministry provides assistance for infrastructure development across the province and partners with governments and the private sector to advance growth and diversification, particularly within regional communities.

Performance Measures:

Industry investment projects, assisted by the ministry, investment $ value and new jobs created. The ministry works with major industry investors to clarify regulatory requirements, provide an initial single contact point where more than one regulatory agency is involved, engage with key agencies and proponents, advise on approaches to work with First Nations and assist in project and agency specific issue resolution to move projects ahead. This measure shows the total jobs created and investment value if the project becomes operational.

Federal, municipal and private funds invested to match provincial investment in community infrastructure. This measure gauges the success of the ministry in maximizing the efficiency of provincial contributions in leveraging federal, municipal and private funding to support community facilities, infrastructure and other regional development projects. The basis for target setting comes from joint federal/provincial agreements.

Regional and municipal competitiveness indicators. The attractiveness of a municipal and regional investment climate is important in generating economic development throughout British Columbia and investment is more likely to flow to those communities that are competitive. An index on regional and municipal competitiveness will be developed.

Reducing the time it takes to assess credentials or foreign-trained immigrants will accelerate credentialing while placing new Canadians in skilled jobs. The degree to which skill shortages are averted will help ensure that the province has a skilled workforce and be a large determinant of B.C.’s future economic prosperity and social health.

Performance Measure:

Number of persons assessed and time to complete assessment of credentials of persons trained abroad. Reducing the time that professionals and trades persons trained abroad are credentialed and subsequently employed is a significant contributor to a skilled workforce.

Number of skilled immigrants entering the workforce through Skills Connect. This measure gauges the success of the Skills Connect initiative in increasing the economic contributions from immigrants, and generally increasing labour supply to meet market demand. Administrative files and surveys from third party contractors, immigrant clients, and employers will provide the necessary data to set a baseline for the spring of 2006.

1	The ministry will work with regulatory organizations for credential assessment to set policy standards and targets.

This goal focuses on maximizing the economic and social benefits to British Columbia while minimizing potential risks of hosting the Vancouver 2010 Olympic and Paralympic Winter Games.

The Secretariat’s primary role is to provide strategic leadership, coordination and oversight to ensure the Province meets its financial, infrastructure and service commitments for the 2010 Winter Games.

Performance Measure:

Success rate in meeting milestones of the provincial commitments to the 2010 Winter Games. The 2010 Olympic and Paralympic Winter Games Secretariat is the primary provincial organization responsible for ensuring British Columbia’s investment in the 2010 Winter Games results in an event that is on time and within the approved budget. This measure assesses that project management is within standard provincial accounting and financial management practice.

The Secretariat plays a key role in ensuring that opportunities associated with hosting the 2010 Winter Games are identified early and realized before, during and after the 2010 Winter Games and that these opportunities evolve into enduring legacies for communities around the province.

Performance Measure:

Cumulative total of businesses registered for the 2010 Olympic and Paralympic Winter Games procurement opportunities. This measures the effectiveness of the outreach programs to B.C. businesses for the 2010 Olympic and Paralympic Winter Games by calculating the cumulative total of businesses registered for the procurement opportunities on the 2010 Commerce Center. British Columbian and Canadian businesses are able to register and receive directed information on business arising opportunities.

1	This measure has been changed from previous plan to show number of businesses registered for procurement opportunities only as it is a better and more meaningful indicator for the objective. In the last plan those registered for newsletters had also been included.

Ministry Performance Plan Summary