The B.C. government is setting up a new Crown corporation called InBC Investment Corp. with $500 million to finance the growth of businesses chosen for their ability to advance social and environmental as well as business objectives.

Jobs Minister Ravi Kahlon introduced legislation Tuesday to establish the corporation91裸聊视频檚 board of directors and a 91裸聊视频渃hief investment officer91裸聊视频� to make decisions on what businesses are supported.

91裸聊视频淚nBC will make investments in small and medium-sized businesses through a triple-bottom-line mandate that equally values and prioritizes our people and planet with profits,91裸聊视频� Kahlon told the B.C. legislature April 27.

Kahlon and Premier John Horgan described the investment fund as a way to grow smaller businesses that advance the government91裸聊视频檚 climate change and Indigenous reconciliation goals, while keeping businesses from being taken over or leaving the province.

91裸聊视频淚nBC will provide a source of patient capital to build a more innovative low-carbon economy by investing in high-potential business to help them to scale and grow in B.C.,91裸聊视频� a ministry presentation says.

A board of directors with two deputy ministers and seven private-sector directors is being established by the legislation, which gives the chief investment officer 91裸聊视频渟ole authority91裸聊视频� to make investment decisions without board or government involvement.

Horgan said the is modelled on those in Ireland and Denmark, and will focus on technology, life sciences and innovators to get the province towards its greenhouse gas reduction goals.

Business representatives endorsed the plan, emphasizing the need to keep new businesses owned and growing in the province.

91裸聊视频淲here we struggled is in scaling companies,91裸聊视频� said Wendy Hurlburt, president of LifeSciences B.C.

Greg D91裸聊视频橝vignon, CEO of the Business Council of B.C., said high-wage jobs and employment for Indigenous people can grow only if companies can develop in the province. He cited B.C.91裸聊视频檚 successes in virtual animation for movies and gaming, life sciences and agricultural technology.

91裸聊视频淎ccess to capital is critically important to our economy and innovative businesses as they seek to scale and compete globally,91裸聊视频� D91裸聊视频橝vignon said.

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