Thomson Reuters has released a report indicating that investment in BC rose by 71 per cent in the second quarter of this year, compared with 2011.

The report also demonstrated that BC held the largest investment gain in the country, attracting more than 20 per cent of venture capital contributions in Canada. Further, Vancouver ranked as the second largest economic centre in Canada to receive venture-capital funding, after Toronto.

The BC Renaissance Capital Fund Ltd, founded in 2007, has worked to attract more than $159 million in new investment to date. Those recipient companies can be attributed to creating 968 full-time jobs in the province.

Premier Christy Clark provided an update on the second quarter of 2012 last week where she reiterated the government's two key priorities: jobs and families.

Expanding trade in Asian markets remains the government's top priority, especially for the natural gas industry. Premier Clark cited natural gas as 'the largest opportunity of our lifetime.'

Premier Clark also reaffirmed her commitment to restrained government spending in moving towards a balanced budget in 2014 and maintaining low taxes. She cited accomplishments such as: increasing the minimum wage, the implementation of new tax credits, student loan relief and the creation of a smoking cessation program.

Premier Clark also focused on the government's attempts at creating safe communities through the 'Erase Bullying' campaign.

Premier Clark concluded with a discussion on the Northern Gateway project, and the five conditions outlined by the BC government required for the project to move forward.

BC NDP Leader Adrian Dix has committed to pulling BC out of the federal review process for the Northern Gateway project if he is elected Premier next spring.

Mr. Dix stated that if elected, he plans to launch a separate BC environmental assessment that would evaluate the project from a perspective that would best represent BC's interests.

An equivalency agreement signed by both provincial and federal governments in 2010 allows that either party may withdraw from the joint review process with 30 days written notice.

BC Hydro commissioned Harris-Decima to conduct a province-wide poll on the Site C project as part of its consultation program. Key findings include:

• 77% would be comfortable with the project provided it is approved by an extensive and independent environmental review.
• 74% agree that Site C would provide economic opportunities for BC, particularly in the north.
• 80% would be comfortable with the Site C project provided that people and communities affected are consulted and their views are taken into account as much as possible.
• 91% of those polled believe we have a collective responsibility to ensure that BC has the power infrastructure that future generations will need.

This weekly report produced for the BC Chamber of Commerce by Fleishman-Hillard.  While every effort has been made to ensure the accuracy of the information included in this publication as of the date of issue, events and government policies are subject to frequent change.  Therefore, the BC Chamber of Commerce and Fleishman-Hillard cannot assume any responsibility for actions taken solely or principally on the basis on the information contained herein.