Being Canada’s 4th largest economy, British Columbia boasts highly educated and skilled labor force, business-friendly environment, reasonable tax rates, and high quality of life. As of 2019, its gross domestic product stands at a little over $253 billion.
The province has a well-developed transportation network and a strategic location when it comes to logistics and the flow of goods. Railways link ports on the Gulf, Pacific, and Atlantic coasts with major markets in Mexico, the U.S., and across Canada. British Columbia also has 6 airports, including Vancouver International, Prince George International, and Kelowna Airports. In addition to an extensive highway network, the province is also well connected by sea, with the Port of Vancouver being the 3rd largest on the North American continent and the largest in Canada.
Businesses also benefit from low provincial personal income taxes and corporate income tax. Training tax credits are also offered.
The main sectors driving provincial growth include aerospace, forestry, clean technology, and seafood and agriculture. Other sectors that are growing and have a strong potential include transportation infrastructure, tourism, wireless technologies and information communication, and international education, among others.
This is a major sector due to the fact that wood is abundant and varied, with species such as western red cedar, Pacific silver fir, and western hemlock. Companies manufacture a selection of products, including wood pellets, pulp, panel boards, and paper. The major markets for timber exports are the U.S., South Korea, Japan, and China.
Aerospace is also a major sector in BC and is Canada’s third largest. Manufacturers supply a diverse array of products for sectors such as surveillance and security, aircraft repairs and maintenance, and tooling. Companies are hiring professionals with training and experience in the aircraft and aerospace industries, including quality assurance technicians, civil aviation safety inspectors, aerospace engineers, and aircraft interior technicians.
Seafood and Agriculture
Some 2,800 beverage and food processing businesses operate on the territory of British Columbia. Farmers grow crops such as greenhouse vegetables, grapes, sweet corn, potatoes, and others. They also farm tree fruits, including plums, apricots, pears, and apples. Some manufacturers specialize in organic beverages and food which are regulated under the Safe Food for Canadians Act. Farmers grow organic produce such as winter and summer squash, sugar pumpkins, and specialty potatoes.
This is also a major economic sector producing waste and water management systems, renewable energy solutions, and energy efficiency technologies. Major companies that operate in British Columbia include Corvus Energy, General Fusion, Ballard Power Systems, and Powertech Labs. About 70 percent of the companies manufacturing clean technology solutions are located in Metro Vancouver. Over 270 producers work in fields such as industrial operations, energy management, and green power generation. Major markets for manufacturers include the U.S., Japan, China, India, and South Korea. South East Asia and Europe are also export markets for BC-based manufacturers.