Vision, mission, raison d’être and operating context
Vision
PacifiCan’s vision is enduring prosperity for all British Columbians and Canadians.
Mission
PacifiCan helps build one strong Canadian economy by investing in businesses and business-serving organizations to foster innovation, create jobs, expand export markets and accelerate growth. PacifiCan also invests in communities and works with Pacific Business Service Network Partners to foster local business growth and community economic growth. Finally, PacifiCan serves British Columbians by delivering targeted and temporary national and local initiatives on behalf of the federal government.
To understand British Columbians’ needs and perspectives, PacifiCan works with provincial, municipal and Indigenous governments, post‑secondary institutions, business and industry associations, and other stakeholders and partners from across the province.
PacifiCan’s headquarters are in Surrey, and it has offices in Vancouver, Victoria, Kelowna, Prince George, Cranbrook, Fort St. John, Prince Rupert and Campbell River. The Agency also has a liaison office in Ottawa.
Raison d’être
PacifiCan is the federal agency that supports economic growth in British Columbia. Its programs and services help businesses and communities grow stronger, overcome challenges and seize opportunities.
Operating context
British Columbia’s economy is expected to perform slightly better than Canada’s in 2026. Fast-tracked major projects, historic levels of investment in defence and homebuilding, and international events are expected to stimulate the provincial economy at a time of a global slowdown. However, ongoing trade disruptions, labour shortages and affordability pressures continue to weigh on British Columbians, businesses and communities.
British Columbia’s economy is projected to grow by 1.5% in 2026, higher than the national average of 1.3%.Footnote 1 Population levels are expected to increase slightly in 2025 (+26,400), following an average annual population increase of 148,200 from 2022 to 2024,Footnote 2 due to reduced immigration. Historically, immigration has contributed to British Columbia’s population growth and provided labour for key sectors such as health care and construction. The unemployment rate is projected to be 6.1% in 2026, which is below the national forecast of 6.7%.Footnote 3
Despite global challenges, British Columbia’s economy has proven resilient thanks to its diverse strengths. As of early 2026, the Government of Canada has announced four nation-building projects in British Columbia.Footnote 4 These projects are expected to attract global investment, create jobs and diversify trade, while increasing Indigenous economic benefits. British Columbia continues to experience growth in marine and aerospace industries, artificial intelligence (AI), and life sciences, which support high-paying jobs.Footnote 5
With its thriving tech ecosystem and a highly skilled talent pool, British Columbia is well equipped to drive economic shifts fueled by digital technology and AI. As of the third quarter of 2025, 14.7%Footnote 6 of British Columbia businesses plan to use AI over the next year, the second-highest share in Canada, behind Ontario (16.5%). Advanced digital technology adoption by B.C. businesses could improve their productivity and stimulate the economy.
As of October 2025, British Columbia led all provinces in year-to-date consumer spending growthFootnote 7 compared to the same period in 2024, highlighting the province’s resilience amidst trade uncertainty. Tourism expenditures in British Columbia grew 46% in Q2 2025 from Q2 2019, compared to the national growth of 28.9%.Footnote 8 With international events including the Men’s World Cup in 2026 and the second of three Web Summits, tourism will continue to boost consumer spending.
In 2025, the Governments of Canada and British Columbia undertook several initiatives to remove interprovincial trade barriers. From 2014 to 2024, B.C.’s interprovincial exports grew by 41%, slightly higher than the national rate (39%).Footnote 9 Along with Buy Canadian policies, domestic trade agreements can support business growth by improving market access across provinces and territories.
Despite the province’s strengths, many businesses and communities are struggling to adapt to the economic context, and this is affecting their ability to grow.
- Trade uncertainty is expected to continue impacting British Columbia ’s exports, especially forestry products, which face 45%Footnote 10 tariffs, delaying business investment and deferring hiring.
- Lower immigration levels may worsen skilled labour shortages in high-demand sectors such as construction, potentially leading to delays on major projects and homebuilding. Construction is the top employer in British Columbia ’s goods sector, accounting for 9.2% of the province’s total GDP ($28.5 billion).Footnote 11
- The cost of living and doing business in British Columbia is a longstanding challenge. Despite housing prices leveling off, the average house price is $968,600, 42% higher than the national average ($682,200).Footnote 12
In the face of these challenges, PacifiCan is supporting businesses with the ambition to create value for Canada to succeed at home and in global markets. PacifiCan is investing in British Columbia businesses and communities to ensure that they benefit from economic opportunities that arise from major project acceleration, generational defence and homebuilding investments, and Buy Canada policies.