|2002/03 Annual Service
Ministry of Competition, Science and Enterprise
The Ministry of Competition, Science and Enterprise made significant
progress in fiscal 2002/03 towards the Government's goal of creating
a strong and vibrant provincial economy, while operating within
a challenging economic environment. Despite the on-going softwood
lumber dispute with the United States, and poor economic performance
by the United States, our largest trading partner, British Columbia's
economy grew 1.8 per cent in 2002, up from a 0.2 per cent decline
in the previous year. During 2002/03, the Ministry has continued
to work towards removing barriers to investment, and creating the
right conditions for economic growth, opportunity and prosperity.
The Ministry's achievements in 2002/03 include:
- OneStop Business Service: made the award-winning OneStop
Business Services available online in 101 locations throughout
- Film Tax Credits: established or expanded New Media,
Animation and Special Effects, and Regional tax credits.
- Deregulation: exceeded Ministry and Government deregulation
targets for 2002/03, and continued within the Ministry to reduce
the regulatory burden by rescinding obsolete, onerous and unnecessary
- Genome BC: spearheaded the provincial government contribution
of $27.5 million to Genome BC for world-class research initiatives.
- Corporate Call Centres: announced two major new investments
to British Columbia in the form of corporate contact centers with
the potential to create over 1,400 new jobs. New and existing
call centres created approximately 1,600 new jobs in 2002/03.
- Venture Capital: undertook a major overhaul of the Small
Business Venture Capital Act providing greater access to capital
for British Columbia small businesses.
- Labour-Sponsored Investment Funds: passed legislative
amendments enabling competition in the labour-sponsored fund sector.
Altura Growth Fund was introduced as the second labour-sponsored
fund operating in British Columbia.
- Tax Credits: completed the process to enable Budget 2003
provisions for $5 million in tax credits for the New Media sector
and $4 million in tax credits for labour-sponsored funds.
- Trade Shows: showcased British Columbia's technology
and production capacity at international trade shows and investment
forums including the Offshore Technology Conference, Bio-Partnering
North America, CommunicAsia, Seatrade, Online Learning, Invest
Northwest, New Earth and the Hong Kong IT Infrastructure Show.
- Inbound Missions: hosted over 100 inbound trade and
investment missions from key markets around the world, including
the United States, Japan, China, Taiwan, the European Union and
India introducing offshore investors and buyers to British Columbia
- Trade Missions: organized Leading Edge Premier and Minister's
business missions to India, Japan, Taiwan and California to heighten
international awareness of trade and investment opportunities
in British Columbia's resource, technology and service sectors.
- Marketing Alliances: established export marketing alliances
in several sectors, including offshore services supply, yacht
building expertise, green building capacity and e-learning technologies