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Business Advantages BUSINESS ADVANTAGES BritishColumbia.ca TAKE YOUR PLACE INVEST WITH CONFIDENCE WITH THE WORLD’S BEST The Government of British Columbia British Columbia combines a business- forecasts that British Columbia’s real friendly environment with an outstanding Gross Domestic Product (GDP) will quality of life. Organizations benefit from grow 2% in 2019 our prime location, rich natural resources, commitment to innovation, attractive SECURE YOUR BOTTOM investment climate and skilled, educated LINE IN OUR STRONG AND workforce. COMPETITIVE ECONOMY Many industry sectors are growing, with The Government of British Columbia exciting opportunities to be found in areas is committed to building a strong that include: economy. B.C. is an economic leader in Canada and is recognized for its fiscal > Agrifoods stability and triple-A credit rating. In 2017, > Clean technology employment grew faster than any other > Forestry part of Canada and retail sales, housing and exports exceeded all expectations. > International education > Natural gas British Columbia’s Economic Performance Indicators 2019 > Mining Real GDP (% change) 2 > Technology, including information, GROW YOUR BUSINESS IN communication and wireless Labour force (thousands) 2,679 technologies; film, television and BRITISH COLUMBIA, CANADA digital media; and life sciences Unemployment rate (%) 5.6 Inflation rate 2.0 British Columbia is one of > Tourism (% change CPI) > Transportation infrastructure Net in-migration 48,800 North America’s most competitive Exchange rate (US/CDN dollar) 79.7 and dynamic business locations. Source: British Columbia Budget and Fiscal Plan 2018/19 – 2020/21 Our strong economy offers unlimited potential, and our advantages attract growth-focused businesses from around the world. ATTRACT WORKERS WITH POWER YOUR GROWTH WITH ACCESS KEY TO BRITISH COLUMBIA: A THE SKILLS YOU NEED CLEAN ENERGY GLOBAL MARKETS STRATEGIC LOCATION FOR SUPPLY CHAIN MANAGEMENT British Columbia is home to a workforce More than 98% of the electricity generated British Columbia’s prime location on that is diverse, skilled, highly educated in British Columbia comes from clean or Canada’s west coast puts it at the AND LOGISTICS and multilingual. British Columbia renewable resources. Electricity rates in commercial crossroads of the Asia-Pacific AIR: B.C.’s six airports that serve international compares favourably against other North British Columbia are also among the lowest region and North America. Companies markets include: Victoria (YYJ), Vancouver American jurisdictions when evaluating in North America. Ongoing investments with operations in British Columbia enjoy (YVR), Kelowna (YLW), Abbotsford (YXX), key livability statistics. Mercer rated in conventional and alternative energy duty-free access to the world’s largest Cranbrook (YXC) and Prince George Vancouver as the top city in the Americas technologies and infrastructure ensure marketplaces in Asia, North America and International Airports (YXS). Vancouver for 2018 and fifth globally. Vancouver is that British Columbia has the power it Europe thanks to the Comprehensive International Airport has been voted the ranked sixth in the Economist’s Global needs to fuel business growth. In 2018, the and Progressive Agreement for Trans- top airport in North America for nine Livability Report out of 140 cities. These Government of British Columbia launched Pacific Partnership, the North American consecutive years. studies reflect B.C.’s high level of stability, Free Trade Agreement and the Canada- CleanBC, a plan to reduce emissions, RAIL: British Columbia is the only gateway health care, culture and environment, EU Comprehensive Economic and advance the clean tech sector and grow on the west coast of the Americas served education and infrastructure. Trade Agreement. Canada has a unique B.C.’s low-carbon economy. Through by three continental Class 1 railways, competitive advantage because it is This makes British Columbia a great place CleanBC, government is making it a connecting ports on the Atlantic, Pacific the only country to have free trade to live, attracting top talent from around priority for B.C. to be a destination for new and Gulf coasts to key markets throughout agreements with all countries of the G7. the world. investment and industry looking to meet Canada, the United States and Mexico. the growing global demand for low-carbon Domestically, British Columbia, with the products, services and pollution-reducing New West Partnership Trade Agreement ROAD: An extensive all-weather highway technologies. has created a single economic region network makes transporting goods and encompassing British Columbia, services to North American markets Alberta, Saskatchewan and Manitoba: seamless and reliable. Industrial Electricity (CDN$) Average Prices on April 1, 2018 a marketplace of more than 11 million SEA: The Port of Vancouver is Canada’s (in cents/kWh, excluding taxes) people and a GDP of more than $700 largest port and the third largest port in Medium user* Large user** billion. B.C.’s offers fast, easy and reliable North America; it is responsible for Canada’s Vancouver 8.99 6.48 global transportation systems. We trade with more than 170 world economies. continue to strengthen our infrastructure Calgary 9.39 8.29 The ports of Vancouver and Prince Rupert, with $25 billion in private and public- which are ice-free year-round, are Asia’s Toronto 12.95 10.65 sector transportation improvements closest ports of entry on the west coast of Montreal 7.99 4.91 between 2012 and 2020. North America — saving shippers more Boston 26.66 23.23 than two days as compared to other west Portland 10.53 8.20 coast ports. San Francisco 22.81 14.78 COMMUNICATIONS: British Columbia Seattle 10.53 9.23 has the highest rate of broadband and New York 22.05 13.83 overall Internet connectivity in Canada. An advanced communications infrastructure *1000 kW demand (56% load factor) **50,000 kW demand (85% load factor) Source: Hydro Quebec, 2018 also provides telephone, broadcasting, cable, wireless and other information services at competitive rates. BENEFIT FROM COMPETITIVE LAUNCH YOUR GROWTH COSTS AND TAXES FROM BRITISH COLUMBIA Top corporations from across the globe Considering British Columbia as a are experiencing the advantages of doing location for a new business venture business in British Columbia. They benefit or expansion? Trade and Invest from our competitive operating costs, British Columbia offers confidential, high quality of life and smart, streamlined knowledgeable advice and services regulations that reflect business needs. including: > British Columbia has the lowest > STRATEGIC SUPPORT: > SUPPLIERS OF BUSINESS SERVICES: provincial personal income taxes in Obtain the information and contacts Meet with experts in tax, real estate and Canada for single individuals earning you need to make strategic investment law, as well as government permitting up to $125,000. decisions in British Columbia. agencies. > Training tax credits are available to > British Columbia’s general corporate > BUSINESS START-UP ASSISTANCE: > HOSTING AND SITE TOURS: eligible employers based on the wages income tax rate is 12%. When Get started faster by drawing on our Ask us to arrange familiarization tours paid to an eligible apprentice to a combined with the federal rate, British extensive network of government and to business locations throughout the maximum of $4,000 per apprentice per Columbia businesses pay a general industry contacts. province, including visiting potential year depending on salary, program and corporate income tax rate of 27%. > BUSINESS CLIMATE INFORMATION: sites, touring facilities and meeting apprenticeship level. Eligible apprentices > Find information on incentives at Learn more about taxation, labour with community leaders. can receive tax credits too — up to $2,500 britishcolumbia.ca markets, business costs, permits and > GOVERNMENT PROGRAMS: depending on the apprenticeship level regulations. Learn about the federal, provincial and they complete. local government support programs specific to your business. Hour Air Travel Times from Vancouver International Airport 9:40 4:20 VANCOUVER LONDON 11:00 TORONTO FRANKFURT 9:50 2:15 5:03 CONTACT: BEIJING NEW YORK 9:30 SAN FRANCISCO SEOUL TOKYO LOS ANGELES 10:55 Trade and Invest British Columbia 20:00 3:00 HONG KONG MUMBAI 999 Canada Place, Suite 730 13:15 Vancouver, British Columbia, Canada, V6C 3E1 Phone: + 1 604 775-2100 15:25 Fax: + 1 604 775-2197 SYDNEY [email protected] N The Shortest Sea Route from North America to Asia Published in March 2019. Prince Rupert Vancouver Oakland Los Angeles Every effort has been made to ensure the accuracy Hong Kong 11.19 days 12 days 12.6 days 13.2 days of this publication at the time of writing; however, the programs referred to, and data cited, are Shanghai 9.9 days 10.6 days 11.3 days 11.9 days subject to change. Yokohama 7.92 days 8.92 days 9.46 days 10.08 days All figures are in Canadian dollars. Pusan 9.5 days 9.7 days 10.4 days 11 days Chennai 17.1 days 18 days 18.6 days 19.3 days BritishColumbia.ca * Estimated based on vessel speed of 20 knots BritishColumbia.ca .
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