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Goals, Objectives, Strategies and Performance Measures

Goal 1: British Columbia is recognized globally as a preferred place to visit, live, work, invest and do business, and as Canada’s Pacific Gateway

Objective 1.1: B.C.’s labour and skill supply fulfills the province’s needs

B.C. must make good use of every labour market resource we have. New workers from within the province must be encouraged and hired. In particular, we need to focus on under-utilized workers, such as those with disabilities, skilled immigrants, Aboriginal people, older workers, women and those who lack training. In addition, new workers must be recruited from other provinces and other countries. Also, we must ensure that the workers we have today are able to work as productively as possible, by providing employment-focused training. This objective focuses on maximizing the benefits of immigration by attracting, integrating and retaining foreign workers and enabling permanent resident status for skilled workers and business entrepreneurs. It is also aimed at reducing the time it takes to assess credentials of internationally trained individuals and to place skilled new Canadians in jobs for which they are trained. The degree to which skill shortages are averted will help ensure the province has a skilled workforce and is a critical factor in B.C.’s future economic prosperity and social health.

Strategies

  • Increase number of people in the workforce through:
    • Increased recruitment and accelerated permanent resident status for skilled workers and business entrepreneurs.
    • Increasing the number of foreign workers entering the workforce.
    • Reducing barriers to labour mobility.
    • Accelerating credential assessment for trades/professions.
    • Increasing the participation of Aboriginal people in industry training programs.
  • Increase skills of the existing workforce by:
    • Reducing barriers to the full employment of skilled immigrants.
    • Increasing the development of skills programs for workers.

Performance Measure 1: Number of new immigrants attracted to B.C. under the Provincial Nominee Program

Performance Measure Benchmark 2007/08
Forecast		 2008/09
Target1		 2009/10
Target		 2010/11
Target
Number of new immigrants attracted to B.C. under the Provincial Nominee Program:          
  • Business Business: 100 Business: 130 Business: 175 Business: 245 Business: 280
  • Strategic Occupations/Skilled Workers2 Strategic: 1,100 Strategic: 1,600 Strategic: 3,000 Strategic: 5,000 Strategic: 7,000
1   Targets for the PNP reflect processing capacity based on current approved resources for each of the years.
2   Includes targets for the 2-year Entry Level and Semi-skilled Pilot Project for tourism / hospitality and long-haul trucking introduced in February 2008.

Discussion

The Provincial Nominee Program 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 measure illustrates the benefits of entrepreneurial activity generated by new immigrants in the Provincial Nominee Program business category and expedited entry of skilled worker immigrants into the economy under the strategic occupations category. The measure was refined from the 2007/08 – 2009/10 Service plan to provide clarity and direct focus on the Provincial Nominee Program.

Performance Measure 2: Number of clients serviced through the Skills Connect for Immigrants Pilot Program

Performance Measure 2006/07
Baseline		 2007/08
Forecast		 2008/09
Target2		 2009/10
Target		 2010/11
Target
Cumulative number of clients served through the Skills Connect for Immigrants Pilot Program. 8261 2,326 4,026 5,726 7,426
Data Source:  The Ministry of Economic Development — Internal Skills Connect Database.
1   Skills Connect services commenced in July 2006, and therefore this number represents only a partial year.
2   Targets for Skills Connect reflect processing capacity based on current approved resources for each of the years.

Discussion

The Skills Connect for Immigrants Pilot Program is designed to assist skilled immigrants to fully utilize their skills and training in the B.C. labour market. This measure gauges the success of the Skills Connect program in supporting skilled immigrants to integrate into the labour force, in jobs that match their previous skills, knowledge and experience. The number of clients served is one measure of how we are contributing to adequate and skilled labour supply, but in addition, the Ministry conducts qualitative reviews of the program to determine if participants are effectively joining the labour market over the long term. Skills Connect originally focused on high growth sectors of the economy with skill shortages and was expanded in 2007/08 to include the health sector.

Objective 1.2: Increase flows of investment, skills and talent into B.C. and increase trade with key markets

This objective is aimed toward strengthening key relationships; promoting the province’s advantages and opportunities to increase trade and investments in high-growth, high-opportunity sectors; and increasing the overall amount of private sector venture capital available to B.C. businesses. The size of B.C.’s economy and our distance from markets make the depth of our international connections an important influence on economic performance. Increased trade and foreign investment contributes to job creation, capital investment, productivity growth, and innovation, which in turn supports economic growth. Venture capital firms and angel investors are important components in the growth of successful innovative businesses in B.C.

Strategies

  • Increase amount of venture capital available to B.C.
  • Promotion of investment opportunities in B.C.
  • Increase foreign direct investment attraction activities and promotion initiatives to facilitate greater participation of B.C. businesses in key markets.
  • Enhance closer commercial connections in Asia, the US and Europe to stimulate innovation and drive productivity and growth in B.C.
  • Increase activities to attract headquarters and operations to B.C.

Microsoft Expanding Canadian Operations in Greater Vancouver Area

“The Vancouver area is a global gateway with a diverse population, is close to Microsoft’s corporate offices in Redmond and allows the company to recruit and retain highly skilled people affected by immigration issues in the U.S.”

— Microsoft Corp., July 5, 2007

In July 2007, Microsoft announced its plan to establish a software development centre in Richmond, B.C., and will employ 700 employees in the coming year. Microsoft’s decision was greatly influenced by Canada’s flexible and accommodating immigration policies compared to the United States. A Provincial Ministry (Ministry of Economic Development) and federal government departments (Human Resources and Social Development Canada, Citizenship and Immigration Canada) collaborated to expedite entry into Canada of foreign, skilled workers recruited by Microsoft. This investment is the culmination of a long series of steps by the company with the support of the British Columbia government including the development of a smaller software development team in Vancouver, business relationships with B.C. universities and colleges, participation of senior Microsoft management in the Premier’s Technology Council and other government initiatives to advance the growth of the technology industry. High level support from federal and provincial authorities made it possible for Microsoft Canada to achieve very ambitious milestones for ramping up the Software Development Centre in Richmond.

Performance Measure 3: Percentage of Canada’s venture capital invested in B.C. and the amount of foreign capital invested

Performance Measures Benchmark 2007/08
Forecast		 2008/09
Target		 2009/10
Target		 2010/11
Target
  • Total venture capital invested in B.C. $225 M $236 M $248 M $260 M $273 M4
  • The amount of foreign capital invested in B.C.1, 2 $70 M or 30% $75 M or 32% $80 M or 32% $84 M or 33% $90 M or 33%
  • B.C.’s share of Canada’s total investment. 12%3 12.5% 13% 13.5% 14%
Data Source:  Thomas Venture Economics.
1, 2   British Columbia competes with other provinces for venture capital. The appropriate level of foreign venture capital for investment in B.C. is currently being determined through consultation with stakeholders during the development of the Provincial Technology Strategy. The level of 30 per cent of annual supply is the current target to be maintained. This figure is subject to change pending the outcome of the consultation process.
3   Total value of venture capital investment in B.C., and also expressed as a percentage of Canadian venture capital dollars invested in B.C. (2005).
4   Due to the 10 year horizon for the B.C. Renaissance Capital Fund (BCRCF), the appropriate adjustments to targets will be made to account for the BCRCF investments toward the overall Venture Capital investment in B.C. by 2010/11. The B.C. Immigrant Investment Fund Ltd.’s Service Plan reports on the BCRCF in more detail.

Discussion

Venture Capital programs provide an effective financing option for B.C. companies and play a significant role in the commercialization of innovation by facilitating private sector investment. A quality supply of local venture capital encourages the growth of entrepreneurial firms in existing and emerging sectors and is considered an important catalyst for attracting foreign venture capital. Entrepreneurship and innovation are key to economic growth and will increase British Columbia’s productivity, wealth creation and facilitate a rise in the standard of living. The investment of foreign capital is evidence of B.C.’s ability to generate ideas and of B.C.’s executives to grow viable businesses around those ideas. A rising level of foreign investment tells B.C. that the global marketplace sees our companies and sectors as healthy and strong.

B.C. Renaissance Capital Fund

The Ministry is also demonstrating leadership by adding depth and presence in the venture capital marketplace by implementing the B.C. Renaissance Capital Fund. Following a rigorous Request for Qualifications process in the Spring of 2007, the Ministry, using funds from the BC Immigrant Investment Fund program, will place $90 million in up to 5 top tier venture capital fund managers focused on the Information Technology, Life Sciences, New Media and Clean Technology sectors. The goal of the fund over the next 10 years is to lever up to $360 million of institutional private capital for our most promising innovative companies and to maximize the economic benefit from this government’s $1.5 billion investment in research talent and infrastructure.

“The Vision for the Renaissance Fund, says B.C. Technology Industry Association president Rob Cruikshank, is that the VCs [Venture Capitals] attracted by the ministry’s $90 million will be able to bring in additional smart, savvy money from outside the province. The B.C. tech companies would not only get funding but be able to use the expertise of these sophisticated external investors to bring in more experienced management that is available in B.C.”

— BC Business, September, 2007

Goal 2: All regions of British Columbia are prosperous and able to achieve their economic potential

Objective 2.1: Advance economic growth and enhance business competitiveness and productivity in every region

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.

Strategies

  • Facilitate economic and infrastructure development in the regions of B.C.
  • Connect investors to B.C. communities.
  • Reduce barriers to trade.
  • Support economic development and diversification in Aboriginal communities.
  • Support economic development and diversification in communities affected by the mountain pine beetle.

Performance Measure 4: Federal, municipal and private funds invested to match provincial investment in community infrastructure

Performance Measure Benchmark1 2007/08
Forecast3		 2008/09
Target		 2009/10
Target		 2010/11
Target
Federal, municipal and private funds invested to match provincial investment in community infrastructure.1 $10 M MED’s budgeted funds2 $20 M Leveraged $35 M budgeted funds $70 M Leveraged $10 M budgeted funds $20 M Leveraged $16 M budgeted funds $32 M Leveraged $10 M budgeted funds $20 M Leveraged
1   Expenditures resulting from the programs administered are used to support the construction or improvement of a wide range of recreation, community and transportation infrastructure. These disparate categories result in diverse concrete outcomes for communities, but the overall measure is effective leverage of other funds.
2   This represents the Ministry of Economic Development’s 40 per cent share of total provincial funds. The Ministry of Community Services is responsible for the remaining 60 per cent.
3   The conclusion of the Olympic/Paralympic Live Sites Program and the Major Post-Secondary Sports Training Facilities Initiatives as of March 31, 2008, will result in changes to the benchmark figure from the 2007/08 – 2010/11 Service Plan. Based upon the 2007/08 federal budget commitment for the new Building Canada Fund, yet to be negotiated, the 2008/09 and 2009/10 figures may be revised upward.

Discussion

This measure gauges the success of the Ministry in leveraging federal, municipal and private funding to match provincial contributions to support community facilities, infrastructure and other regional development projects. The targets are set based on provincial programs and joint federal/provincial agreements.

Goal 3: B.C. hosts a successful Vancouver 2010 Olympic and Paralympic Winter Games that create a legacy of economic benefits for the province

Objective 3.1: The Province’s financial commitments to the 2010 Olympic and Paralympic Winter Games are met

The B.C. Olympic and Paralympic Winter Games Secretariat’s (BC Secretariat) primary role is to provide strategic leadership, co ordination and oversight to ensure the province meets its financial, infrastructure and service commitments for the 2010 Winter Games.

Strategies

The BC Secretariat is in place to:

  • Ensure the Province’s financial commitments to the 2010 Winter Games do not exceed the approved budget through monitoring and managing the commitments against the performance agreements that are in place.
  • Oversee and monitor legal structures and funding mechanisms to support Games related initiatives.

The BC Secretariat will regularly monitor and report on oversight, financial, and compliance details through the following processes and reports:

  • The annual progress reports published by the BC Secretariat.
  • The audit reports issued by the Office of Auditor General of British Columbia on the progress of the 2010 Winter Games.
  • The annual public accounts reports published by the Office of Comptroller General on the funding status of the province’s $600 million Winter Games commitments.

Objective 3.2: 2010 Olympic and Paralympic Winter Games business opportunities and jobs are maximized throughout the province

The BC 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.

Strategies

  • Provide tools and information for communities and businesses to take advantage of Olympic opportunities.
  • Provide timely and effective responses within the province and among partners and stakeholders.
  • Maximize media, investment, and marketing opportunities for B.C. at the B.C. Canada Pavilion in Beijing during the 2008 Summer Olympic and Paralympic Games.
  • Act as co ordination hub for provincial activities, projects and key relationships related to the 2010 Winter Games.

Performance Measure 5: Cumulative total of businesses registered for the 2010 Olympic and Paralympic Winter Games procurement opportunities

Performance Measure Benchmark 2007/08
Forecast		 2008/09
Target		 2009/10
Target		 2010/11
Target
Cumulative total of businesses registered for the 2010 Olympic and Paralympic Winter Games procurement opportunities.1 3,000 5,000 7,000 7,500 Transition1
Data Source:  2010 Commerce Centre registration database.
1   The BC Secretariat and the Ministry of Economic Development are working together to ensure that the opportunities and benefits created from the 2010 Winter Games and 2010 Commerce Centre are transitioned into the Province’s broader economic plan and programs following the 2010 Games.

Discussion

  • 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 procurement opportunities advertised by the 2010 Commerce Centre. British Columbian and Canadian businesses are able to register and receive directed information on arising business opportunities.

B.C. Canada Pavilion in Beijing, China

The B.C. Canada Pavilion will present British Columbia and Canada to the people of Beijing and China leading up to and during the 2008 Summer Games. Located near Tiananmen Square, the Pavilion will provide unmatched exposure for B.C. and Canada in China. The Pavilion will help reinforce British Columbia as a dynamic, creative and innovative player on the world stage. The main floor of the exhibition space will promote British Columbia and Canadian industry, culture and raise awareness of B.C. as a prime tourism destination while introducing to visitors our wealth of business opportunities. Through our popular and cutting edge B.C. Stories and B.C. Explorer exhibits that showcase our unique products, services and culture, visitors and media from around the world will experience first-hand a true British Columbia and Canadian experience. It is expected that over 250,000 people will visit the B.C. Canada Pavilion during the Beijing Summer Games. On the second floor, the B.C. Canada Pavilion will provide meeting and hosting space for representatives of Canadian and Asian businesses to meet and discuss trade and economic development opportunities.

Rendered view of exterior of B.C. Canada Pavilion in Beijing 2008.

Rendered view of exterior of B.C. Canada Pavilion in Beijing 2008.

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