header_image
The BC Advantage
Notepad

Canada, and more specifically British Columbia (BC), proudly fosters a competitive environment for business. The province of BC is proud of the efforts it has made to invest in infrastructure and transportation networks. In addition, the province has focused on work force development and competitive business and personal tax rates. With low corporate tax rates and power rates, BC is a competitive place to do business. The Invest BC website outlines many of the advantages to doing business here. For more information about the BC Advantage visit the Invest BC website.

Prime Location

canada_map.jpg

Pitt Meadows is located in the south-western corner of British Columbia (BC), Canada. This area comprises the Metro Vancouver region and the Fraser Valley region and is commonly referred to as the Lower Mainland. The City of Pitt Meadows is a member of Metro Vancouver* (formerly the Greater Vancouver Regional District).

* Metro Vancouver delivers regional services, planning and political leadership on behalf of 24 local authorities.

The Asia Pacific Gateway

The province has fulfilled its long-term vision of British Columbia as the Asia Pacific Gateway, the preferred gateway for Asia Pacific trade, with the most competitive port and multi-modal transportation system on the west coast of the Americas.

British Columbia’s ports in Vancouver and in Prince Rupert are Asia’s closest ports of entry on the west coast of North America, up to 58 hours closer than the ports of Los Angeles and Long Beach. British Columbia offers Asian shippers the most direct route between Asian and North American markets.

Canadian ports and airports are seamlessly integrated with road and rail connections to all major Canadian and US economic centres. British Columbia is the only gateway on the west coast of the Americas served by three transcontinental railways.

Today, Canada’s Pacific Gateway is an integrated, secure and reliable transportation network that includes world-class airports, seaports, railways, roadways and border crossings, bringing Canada and the North American market to Asia and the world.

For further information on the Asia Pacific Gateway please visit the Asia Pacific Gateway website.

Source: Province of British Columbia - Invest BC

Tax Rates

British Columbia offers one of North America’s most competitive business climates, with low taxes, streamlined regulations and a supportive, financially responsible government. The Government of British Columbia’s long-term strategy will keep our business environment strong and ensure that BC remains among the best places to invest in North America. The province has created an Invest BC website. The following are some of the highlights from this site:

  • BC has one of North America’s most competitive business climates with regards to taxes.
  • BC residents now pay the lowest provincial personal income tax in Canada for annual incomes up to $118,000. Taxes have been reduced numerous times since 2001, benefitting businesses, individuals and families.
  • In 2011-2012 planned changes to British Columbia’s combined federal and provincial corporate tax rate result in a rate reduction to 25 percent – the lowest in the G7. British Columbia’s general corporate income tax is 10 percent in 2011. The federal corporate tax rate is currently 18 percent and is set to decline to 15 percent by 2012.
  • BC taxes businesses at a rate of 2.5 percent on their first $500,000 of business income, a threshold that has been increased by 150 percent since 2002. Government intends to eliminate the small business income tax by April 1, 2012.
  • British Columbia has no general corporation capital tax, no employer payroll taxes, no franchise tax and no machinery sales tax.
  • BC provides refundable tax credits and exemptions for software development, manufacturing, research and development, mining, oil and gas, film and TV production, new media, international financial activities and licensing intellectual property from a British Columbia location.
  • British Columbia’s combined federal and provincial corporate tax rate is lower than any jurisdiction in the United States. Personal tax rates are similarly competitive.

Top Marginal Corporate Income Tax Rates

  • British Columbia - 28.5%
  • Ontario - 32%
  • California - 40.7%

Top Marginal Personal Income Tax Rates

  • British Columbia - 43.7%
  • Ontario - 46.4%
  • California - 45.5%

Source: PricewaterhouseCoopers, Tax Facts and Figures: 2009 and September BC Budget Update 2009

For more information on BC tax information go the Invest BC website.

Source: Province of British Columbia - Invest BC

Labour Force

British Columbia’s large, flexible and well-educated labour pool of over 2.3 million has continuously expanded in line with the needs of fast-growing sectors like trade and high technology. BC's labour force is young and energetic with three out of five workers under 44 years old. Over half of BC's workforce is employed in knowledge-based industries or trade-related occupations.

For more information on British Columbia’s competitive labour force go the Invest BC website.

Source: Province of British Columbia - Invest BC

Energy Resources

British Columbia is rich with an abundance of energy resources. Most of BC is powered by reliable, cost competitive hydroelectric power. BC is also investing in a diverse portfolio of alternative energy sources. In addition, alternative energy projects provide investment opportunities for those looking to invest in BC.

  • Reliable, renewable and low-cost hydroelectric power supplies almost 90 percent of British Columbia’s electricity needs (the balance is mainly natural gas-fired power).
  • A robust transmission and distribution system delivers uninterrupted power to all regions of the province. The BC Hydro system has an average system availability index of 99.97 percent.
  • British Columbia is also rich in natural gas (we are Canada’s second-largest producer), oil, coal-bed methane and coal.
  • The province’s Energy Plan is promoting development of alternative power sources such as wind, biomass and "run of the river" hydroelectric generation as well as conventional sources.

For more information on British Columbia’s competitive energy resources go the Invest BC website.

Source: Province of British Columbia - Invest BC

Provincial Nominee Program

The British Columbia Provincial Nominee Program (BC PNP) supports two programs: 1) the Strategic Occupations Program for Canadian businesses looking to recruit or retain qualified foreign workers to help meet current and future BC labour needs, and; 2) the Business Immigration Program for foreign skilled business owners and entrepreneurs looking to purchase and operate a business in BC.

Strategic Occupations Program
The BC PNP accelerates the permanent resident application process for skilled and/or experienced workers, experienced business persons and their family members who want to settle in BC permanently.

Business Immigration Program
There are minimum requirements for personal net worth, the amount of investment, the geographic location within BC and the number of Canadian employees in the proposed business to qualify for the program.

The business must provide economic benefit to BC by contributing to one of the following:

  • Increasing the export of goods and services
  • Increasing value-added manufacturing,  processing or primary resource activity
  • Increasing BC tourism
  • Increasing research and development and technology commercialization
  • Creating innovative approaches to traditional businesses
  • Servicing an underserved regional market
  • Transferring skills, technology and know-how to BC.

To learn more about the requirements to be part of the BC Provincial Nominee Program visit the Province of BC website.

Source: Province of British Columbia