Our government has a vision for B.C.'s economic future: an inclusive, sustainable, and innovative economy that works for everyone.
Budget 2022 is making strong investments to ensure people across B.C. are poised to benefit from sustainable economic and resource development, today and into the future.
Since 2017, we've connected 500 communities to high-speed internet, unlocking new opportunities for people in every corner of B.C. Budget 2022 invests to connect another 280 First Nations, rural and remote communities to high-speed internet. With this investment, 82% of rural and remote communities and 92% of First Nations communities in B.C. will be connected to high-speed internet.
This will open doors for people in these communities to access digital health care, educational and employment opportunities and to reach new markets.
This funding will significantly accelerate the province’s commitment to close the digital divide and will help rural, forest-dependent communities and workers transitioning to new diversified economic opportunities under the Old Growth Strategy.
Budget 2022 provides $50 million to support implementation of the Stronger BC Economic Plan: A Plan for Today, A Vision for Tomorrow, with investments to grow B.C.'s life sciences, manufacturing, and agricultural sectors, continue our commitment to Environmental, Social and Governance values, and support reconciliation through economic development.
For example, funding of $200 million has been provided this year in grants to Genome BC and Michael Smith Health Research BC, creating new scientific discoveries and economic opportunities with a significant increase in grants for a growing life sciences sector that now includes more than 2,000 companies and employs 18,000 people in B.C.
Budget 2022 also delivers funding to support the continued growth of the mining sector, after 2021 saw more than $600 million in mining exploration. This is a 50 per cent increase over the previous year and the highest level in a decade, with growing demand around the world for the minerals that will play a key role in our low-carbon future.
Budget 2022 is supporting sustainable resource development with funding to support a growing, safe, and thriving mining sector in British Columbia, and creating a new Ministry of Land, Water and Resource Stewardship, to support economic activity, environmental sustainability, and reconciliation with Indigenous Peoples.
The budget delivers support for forestry workers, businesses and communities impacted by old growth logging deferrals by connecting people to skills training and short-term employment opportunities, supporting older workers and contractors transition to retirement through investment in the Bridging to Retirement program, and working to create jobs through diversified economies and infrastructure projects.
Budget 2022 earmarks $25 million in funding to support the tourism sector’s continuing recovery from the effects of the COVID-19 pandemic. Additional funding is also being provided to support non-profit organizations affected by the pandemic and the recovery of the arts, culture and music sectors through the Arts Impacts and Amplify BC programs.
The StrongerBC Economic Plan takes action to close B.C.’s skills and talent gap with a generational commitment to accelerate talent and development and skills training across the province.
Budget 2022 invests to help today’s workers upgrade their skills and train for new jobs, with new skilled trades certifications, and more training seats for much-needed workers in the care economy, including ECEs for our growing child care system and Health Care Assistants to address staffing shortages in the long-term care, assisted living and home care sectors.
This budget’s record infrastructure investments will also deliver opportunities for local workers and underrepresented groups, by expanding opportunities in the construction workforce through Community Benefits Agreements for key capital projects.
British Columbia is the place to be, with thousands of people moving here every month. To keep up with our growing population, and ensure businesses can find the workers they need, we need to keep investing in more homes people can afford. Budget 2022 continues funding the 10-year plan, Homes for BC, launched in 2018, with annual funding for housing of more than $1.2 billion each year. So far, through this plan nearly 32,000 homes are complete or underway in communities across the province.
Budget 2022 builds on these investments with funding to accelerate the construction of mixed-income housing through BCHousing’s Community Housing Fund, and with new resources for the HousingHub to keep up with demand for the $2 billion low-cost financing program launched in 2021 to give middle-income British Columbians more affordable rental and homeownership opportunities.
Budget 2022 invests a total of $27.4 billion in important infrastructure like schools, hospitals, affordable housing, rapid transit, highways and bridges to help people and communities recover and build B.C.’s economic resilience. This record level of capital spending will also support 100,000 jobs in communities throughout the province.