Learn how your business may benefit from new funds proposed in the Province of British Columbia’s most recent annual Budget.
- Aerospace: Re-affirm the Government’s commitment to provide $5M over five years to further expand the Province’s aerospace cluster.
- Agriculture: Commit an additional $2M to the Buy Local Program to help farmers and food processors promote their products.
- Cleantech and the Environment
- Provide $22M over three years for an incentive program for the cement industry to produce cement in a cleaner manner.
- Provide up to $27M over five years in conditional incentives to encourage cement producers to meet or beat new emissions intensity benchmarks.
- Digital Media
- Expand the Digital Animation or Visual Effects tax credit to include post-production film activities.
- Extend the Interactive Digital Media tax credit to 2018 to continue offsetting the cost of developing video games and other digital media products.
- Export: Invest up to $3M over three years to draw more shipping companies to Vancouver.
- Healthcare and Life Sciences: Provide up to $12.5M to the Canadian Cancer Society to establish a world-class Cancer Prevention Centre in Vancouver.
- Provide $31M over three years to support mining and the ongoing development of a liquefied natural gas (LNG) industry.
- Extend the mining flow-through share tax credit for one year. This credit provides an incentive for mineral exploration.
- Extend the new mine allowance for four years.
- Redirect $40M to support post-secondary training for high-demand jobs.
- Provide $5.4M for Aboriginal skills training.
- Extend training tax credits for employers and apprentices to the end of 2017, and extend the enhanced credit that provides an additional 50% for First Nations individuals, people with disabilities, and their employers.
- Venture Capital: Increase the budget for the Small Business Venture Capital Tax Credit Program by $3M for one year. This allows for up to $10M in additional equity financing for qualifying new corporations in 2015.
Keep reading FundingReport and using the Portal’s free Funding Search Tool for updates on the implementation of each of these new measures.