A new federal government economic development initiative will open an office in the Innovation Centre in downtown Kelowna. The announcement was made Wednesday, Nov. 16, 2022, in Kelowna by Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada.
Image Credit: SUBMITTED/PacifiCan
November 16, 2022 - 10:27 AM
A new federal government economic development initiative will open an office in the Innovation Centre in downtown Kelowna.
The announcement was made today, Nov. 16, in Kelowna by Harjit S. Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada.
He also announced that four Southern Interior businesses will receive a total of $6.3 million.
“This includes over $3.6 million for Pela, a Kelowna-based company reducing plastic waste from consumer products,” a news release from his office said. “With this funding, Pela will hire new staff, acquire new facilities, and target new markets for its products, including the world’s first compostable phone cases."
Great West Equipment in Vernon will get $190,000 for training software. The rest of the money goes to two Kootenay companies.
Called PacifiCan (Pacific Economic Development Agency of Canada), it replaces the Western Diversification Fund. Community Futures and Women's Enterprise Centre (now called WeBC) in Kelowna's Landmark District were funded through Western Diversification and will continue operating but with PacifiCan funding.
The change means that annual funding, which was split between Alberta and B.C., will be dedicated to B.C. alone while Alberta gets a separate agency.
There's $110 million designated annually for B.C. PacifiCan will also be opening more offices other parts of B.C.
Kelowna’s office services the Thompson-Okanagan and funding announcements will be made in Kamloops early in the new year.
The fund is designed to help small to medium sized businesses grow and for community development projects.
The fund is not for new business startups.
— This article was corrected at 10:56 a.m. Thursday, Nov. 17, 2022, to clarify the status of Community Futures and WeBC.
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