MSABC Welcomes Continuing Support for Businesses in B.C. Budget 2021
FOR IMMEDIATE RELEASE
Vancouver, B.C. – The Mining Suppliers Association of British Columbia (MSABC) welcomes continuing support for businesses as they recover from COVID-19, and extended funding to help industrial customers finance emissions reduction projects in Budget 2021.
Budget 2021 includes several important measures to support B.C. businesses recovering from the COVID-19 pandemic, including $150 million to support the Increased Employment Incentive tax credit and $195 million for the Small- and Medium-sized Business Recovery Grant Program. “These provincial programs, in addition to measures from the federal government, have helped stabilize businesses during the pandemic and will help businesses expand as the B.C. economy recovers,” said Mike Abbey, Area Fire Sales Manager, Canada West, Johnson Controls & Chair of MSABC.
Budget 2021 also provides an additional $173 million in 2023/24 for the CleanBC Industrial Incentive Program and the CleanBC Industry Fund, in line with planned increases to the carbon tax. “The CleanBC Industry fund allows mining operations to recover a portion of carbon tax paid to invest in new projects to reduce their operation’s emissions,” said Mike Abbey. “Our members are already partnering with B.C. mining operations on new emission reduction projects, such as electric trolley systems for haul trucks to reduce diesel consumption.”
Thousands of companies and their employees benefit annually from B.C.’s mining and smelting operations. The One Province, One Economy study commissioned by MSABC and the Mining Association of B.C. found that 3,730 supplier, contractor and consultant firms located in 215 B.C. communities benefited from $2.9 Billion in spending by 14 major mines and 2 smelters in 2018.
MSABC comprises suppliers, contractors and consultants to the B.C. mining industry who are committed to promoting the sustainability of this valuable resource sector.
For more information please contact:
Alec Morrison, President & CEO – MSABC, at 604-681-4321 (Ext: 111)