New legislation to support newcomers and investing in liquified natural gas (LNG) are two of the major ways B.C.’s premier says he hopes to expand the economy.
“We are a place that is still open and welcoming to the world, where there is support for diversity and there is support for immigration, where we believe climate change is a real thing and we see the economic opportunities that are attached to it,” David Eby said during an address Wednesday evening to the Greater Vancouver Board of Trade (GVBOT).
“With all these opportunities, though, we've seen huge pressures on British Columbians.”
Eby said he hopes to build on the province’s strengths amid current economic uncertainty. This includes trade opportunities and access to ports.
He said he would create policies that are as “bullet proof as possible.” Among these are future and current investments in green energy, and the opportunities they bring to partner with Indigenous groups, as well as advantages from increased immigration.
Eby said immigration offers an opportunity to properly invest in badly needed infrastructure like hospitals, schools and “big projects.”
He said housing can be linked to those initiatives.
“We have a million job openings that we're expecting to come out over the next decade. We need those folks to fill those jobs. The disconnect has been they come with skills and experience, and we don't let them use those skills and that experience,” he said.
Eby said the government will be introducing legislation to ensure there are ways to connect workers and their skills to the jobs available in the province. The new legislation would also reform English-language testing.
“We need these professionals so badly, [and] requirements for clear pathways to get those credentials recognized and requirements around English testing that are humane and civil,” he said.
The impacts of rising costs and uncertainty from high interest rates were also part of Wednesday’s agenda, as well as concerns over public safety and how housing scarcity can impact businesses.
At one point Eby referenced the Woodfibre LNG project near Squamish and Haisla’s Cedar LNG project, which he said is moving into a final investment decision phase, in addition to 19 different hydrogen facility proposals.
“I was in Prince George to meet with the mayor and the head of the Lheidli T'enneh First Nation to talk about opening a massive hydrogen facility in Prince George, which is really good news for that community [because] they’re taking a lot of major economic hits. And so there are a huge number of projects in the works in the province,” he said, referring to a project involving Aussie miner Fortescue Metals Group Ltd. (ASX: FMG). The iron ore producer has also begun pursuing clean energy projects.
Eby said the province’s biggest partners on LNG projects are likely to be the biggest partners for green energy projects in the future.
The main challenge B.C. faces is ensuring that there is enough electrical capacity to meet the growing demand that comes with these major projects, according to Eby.
“It’s wildly frustrating how long it takes to bring on electrical power generation and transmission in the province,” he said. “We need additional generation capacity for climate goals and electrify every industry in the province as much as we can. And so there are a lot of jobs, a lot of opportunities for people to pull that out.”
Eby said the province has created a task force that works alongside BC Hydro to speed up electrical permitting.
But he added that the province is also continuing to support major mining proposals and the extensions of mines across the province.
The premier also addressed public safety concerns to the GVBOT audience.
He said there is a broader concern regarding mental health and addictions in the province as well as repeat offenders. Taking a leadership position in tackling issues in the Downtown Eastside will be critical to addressing those concerns as well as supporting businesses in areas like Chinatown, according to Eby.
“To be successful in business you need to be able to operate your business safely,” he said.
