Madam Speaker, Canada launched the Pacific Economic Development Agency, PacifiCan, in 2021 to ensure that B.C. businesses got the support that they needed. It is one of seven regional economic development agencies that play a vital role to help local enterprises seize the opportunities to scale up production and develop new markets.
Earlier this year, PacifiCan invested over $2.5 million in Squamish-based Quantum Technology to help the company increase its production of liquefied gases such as green hydrogen and helium. This B.C.-owned company will have the resources to invest, improve its manufacturing processes and grow its workforce to better serve the Canadian and global transport sectors to access green energies.
Simply put, the investment is helping Quantum grow into foreign markets, rather than be acquired by a company from a growing foreign market. Investments like this are helping Canada to decarbonize and to seize the unmatched opportunity in the green economy. PacifiCan is ensuring that B.C. businesses will be at the forefront.