B.C. adds $90 million to support businesses hit by U.S. tariffs

If your business sells into the United States, or you work in B.C.'s forest sector, the Province has announced new money to help. The Government of B.C. says the combined $90 million is aimed at businesses that have relied on exports to the U.S. as their main market.

The funding goes to four existing programs:

• An additional $30 million for a renewed BC Manufacturing Jobs Fund, to help businesses invest in new equipment, technology and infrastructure
• An additional $30 million for the Integrated Marketplace initiative, to help B.C. technology companies bring new products to market
• An additional $15 million for the Rural Economic Diversification and Infrastructure Program
• $15 million to expand the BuyBC program beyond agriculture and promote B.C. products in non-U.S. markets

The biggest impact from U.S. tariffs has been on B.C.'s forest sector. The Province says funding applications from forestry businesses and forest-reliant communities will be prioritized and expedited for review.

Forests Minister Ravi Parmar said the province will fight back against what he called an economic attack. "This is how we win against the United States," he said.

Premier David Eby called the tariffs an attack on B.C. workers, businesses and communities. He said, "But we won’t let decisions made in Washington determine our future."

The package builds on federal supports that B.C. businesses are already using, including funding for regional development agencies such as PacifiCan and support from the Business Development Bank of Canada.

If you are not sure which program fits, the Province offers free one-on-one consultations with business advisers. You can call 1-855-698-2157 or email Business.Advisors@gov.bc.ca. The Province also offers no-cost access to the Export Navigator and Trade Accelerator programs.

The Province says the support is part of its Look West strategy, which aims to diversify markets and grow sectors such as technology, aerospace, marine, life sciences and agriculture.

Source: BC Gov News