Report: B.C.'s New Economy is Humming

With a boost from supportive government programs and policies, British Columbia’s emerging clean tech and clean energy economy is thriving, says a new report.

When taken together, three of the province’s new-economy sectors—”clean energy supply and storage,” “clean transportation”, and “green building and energy efficiency”—generate about 123,350 jobs and contribute more than $15 Billion to provincial gross domestic product.

The Globe Advisors study found that B.C. companies are bringing a wide range of clean-energy products and services to market, such as lithium-ion batteries used as back-up power for telecommunications, to ultra-efficient fiberglass windows and doors, to technologies for managing transit fleets.

At the provincial level, Globe credits overarching public policies such as B.C.’s Greenhouse Gas Reduction Targets Act, the Carbon Tax, and the Clean Energy Act, as well as program such as LiveSmart, have been critical for driving clean-tech and clean-energy jobs and  investment.

Federally, Globe also cited programs offered by organizations such as MITACS—a national research-focused NGO—Sustainable Development Technology Canada (SDTC), and the National Research Council (NRC) as vital to the sector’s ongoing health.

A June 2011 KPMG study concluded that 202 so-called “pure-play” clean-tech companies in B.C. together employ 8,400 people and generate revenues of $2.5 Billion. This new research captures a broader scope of the new economy.

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