a-news

PROMOTING B.C. THROUGH OLYMPIC 'LAUNCHING PAD'

By Iain Black
Minister of Small Business, Technology and Economic Development

Welcome to the Fall 2009 edition of a-news, your BC Alumni Ambassadors newsletter. I would like to say, as the new Minister of Small Business, Technology and Economic Development, it is a privilege to be working with you – the B.C. Alumni Ambassadors Network – in promoting British Columbia to the world.

And what’s a better opportunity to showcase British Columbia than the 2010 Olympic and Paralympic Winter Games? Here in B.C., and in the rest of Canada, we’re eagerly counting down the days to February 12, 2010 when the opening ceremony takes place. In fact, when tickets were first released for sale, Canadians submitted requests worth a record $345 million – just for themselves.

This excitement will multiply once the Torch Relay kicks off at the end of October. Leaving from Victoria, the Olympic Flame will travel more than 45,000 kilometres, or 28,000 miles, to every province and territory in Canada, by land, air and water. In fact, the Olympic Torch Relay will literally reach new heights on November 8 when it arrives at Canadian Forces Station Alert on Ellesmere Island in the Arctic – the most northern inhabited settlement anywhere in the world.

Hosting the Olympic and Paralympic Winter Games is a once-in-lifetime event for our province. In addition to representing a potential $4 billion in economic benefits for companies in B.C., 2010 is a launching pad to show the world our dynamic and multicultural society, first-class educational institutes, innovative green technologies, and the fact we are Canada’s Pacific Gateway.

I hope you are able to be part of the excitement – along with an estimated 250,000 visitors and an expected worldwide viewing audience of three billion people. These Games belong to British Columbians, to Canadians, and to you – no matter where you are in the world.

Seizing the Opportunity: 2010 Hosting Program

Premier Gordon Campbell and the 2010 Hosting Program

The 2010 Olympic and Paralympic Winter Games is a once-in-a-lifetime opportunity to grow British Columbia’s international business profile. Previous Olympic host jurisdictions have put in place programs to maximize the business and investment opportunities that flow from hosting this iconic international sporting event. Evidence from Olympic Summer Games (Atlanta ’96 and Sydney ’00) shows that Games-time business programs provide an invaluable platform for the conclusion of term export and investment deals.

British Columbia is positioned to take full advantage of one of the largest marketing opportunities we can imagine.

The Province is developing a strategy to:

Attract international business leaders to the Games.
Attract the attention of potential buyers, partners, and investors from around the world who will already be here.
Invite and build bilateral relations with government leaders across the globe, including from Asia.
Strengthen B.C.’s reputation as a leading centre for commerce, diplomacy, and social influence.
Promote B.C. as an innovative, stable, and “clean and green” destination with a world-class lifestyle.

Watch for more information to come in future issues of a-news.

Q & A WITH BRITISH COLUMBIA'S INVESTOR SERVICES TEAM

British Columbia's investor services team helps "out of province" companies connect to business and investment opportunities in B.C.

Our INVEST B.C. marketing alliance harnesses expertise from provincial government officials, regional economic development officers, federal government agencies, and industry associations to create customized services – matching the needs of investors -- at a speed expected by business decision makers.

The INVEST B.C. website (www.investbc.ca) provides extensive information on B.C.'s investment climate including a round-up of the attributes of over 80 communities in the province.

Q: What is the current investment climate in British Columbia?

A: B.C. has one of the most attractive climates for business in North America. Operating costs are highly competitive - including abundant, inexpensive and green sources of electricity. Our business and personal tax rates are among the lowest in North America, and by 2012 Canada will have the lowest business taxes in the G8.

British Columbia has earned AAA credit ratings from both Moody’s and Standard and Poor’s. Tax incentives and tax credit programs encourage investment in creative industries, financial services and resource developments.

Q: We have B.C. expatriates and alumni ambassadors living and working overseas, who are willing to open doors for the Province. What can they do to help attract potential investors for B.C.?

A: The best way is to encourage your business and personal contacts to visit British Columbia and discover for themselves why B.C. is their gateway to North America.

Tell them to contact Investor Services. We have a number of resources to draw upon. We have great brochures and more detailed publications covering taxes and key aspects of doing business in British Columbia. Plus we have asset maps and profiles of our technology sectors. Immediate help is available via www.investbc.com.

Ambassadors are also encouraged to communicate regularly with one of B.C.'s nine Trade and Investment Representatives. In Asia, reps are located in Bangalore, Beijing, Guangzhou, Shanghai, Seoul and Tokyo - while we have two who serve the European Union and one in California.

Q: How will the 2010 Olympic and Paralympic Winter Games in Vancouver help attract investment to the province?

A: The 2010 Olympic Winter Games places us in very select company. Only six other countries have hosted both the Winter and Summer Olympics.

2010 is a catalyst for business. Including the recent expansion to the Vancouver Convention Centre, 2010 represents $10.7 billion in economic activity to British Columbia.

Business matching programs, involving the governments of Canada and British Columbia, are taking place – connecting overseas investors to opportunities in B.C.

The Olympics and Paralympics will create economic benefits that will be felt well beyond 2010. In addition, the transportation, hospitality and venue infrastructure built to complement the Games, will leave a lasting legacy.

As you can imagine, we can’t wait for the Olympics to begin.

B.C. Strengthens Ties with Japan

Their Majesties Emperor Akihito and Empress Michiko of Japan visited B.C. from July 10 to 14 as part of a visit to Canada to celebrate the 80th anniversary of bilateral diplomatic relations between Japan and Canada.

British Columbia and Japan have a long relationship that stretches back to the early days of our province and has grown stronger over the decades, linking us socially, culturally and economically.

The visit to B.C. by the Imperial Couple affirms the strength of the B.C. / Japan relationship which will only continue to grow in the future.

Premier Gordon Campbell introduces their Majesties the Emperor and Empress of Japan to members of Canada's national speed skating team at the Richmond Oval.

Building Economic Relationships Between Communities in B.C. and Asia
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In Asia, government can play an important role in the development of business relationships. Recognizing this, the B.C. Government established the B.C. Asia Twinning Program to assist B.C. communities to develop economically robust relationships with partners in Asia.
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These relationships can support B.C. exporters to identify new markets for their goods and services, and open up new sources of investment for local industries. Well-thought-out and supported twinning arrangements can form part of new economic development strategies for many B.C. communities.

These “twinning arrangements” provide the framework necessary for relationships between businesses, education centres, organizations and individuals to take root and grow.

How can you get involved?

Many B.C. communities continue to evaluate opportunities for partnerships in Asia. If you believe your city or municipality would make a strong candidate, please let us know at asia.pacific@gov.bc.ca.

To learn more about existing twinning relationships please look at the inventory on our website.

www.bcasiatwinnings.gov.bc.ca.

The New Executive Council of the B.C. Government

On June 10, 2009, Premier Gordon Campbell announced the new cabinet. Details can be
found online the government website.

PUBLISHED BY THE B.C. ALUMNI AMBASSADORS NETWORK TEAM
MINISTRY OF SMALL BUSINESS, TECHNOLOGY AND ECONOMIC DEVELOPMENT

We welcome your suggestions and comments--write to us at bcalumni@gov.bc.ca.

Visit us at www.bcalumni.ca.
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B.C. to benefit from Canada-South Korea Blue Skies Agreement

In July, Canada and South Korea announced the conclusion of a Blue Sky air transport agreement.
The agreement allows any number of air carriers from either country to operate scheduled passenger and all-cargo air services as frequently as desired, to and from any point in either country's territory. Air carriers will also be able to pick up traffic in each other's territory and continue to a third country as part of a service to or from their home territory.

The agreement also provides for rights pertaining to flights carrying cargo only, allowing stand-alone cargo services between each other's territory and third countries, and includes a tariff regime that will allow carriers to readily react to market conditions.

Back in 2007, members of the Korea Market Advisory Group to the Premier’s Asia Pacific Trade Council recommended that the Province encourage the federal government to conclude an open skies agreement with Korea.

Given the geographic location of B.C. – Canada’s Pacific Gateway – and the complementary industry structure between B.C. and South Korea, British Columbia stands to reap a lion’s share of benefits from the Blue Skies Agreement between Canada and South Korea.

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