BC's clean technology industry poised to become star of BC economy
By Contributor
British Columbia’s cleantech industry is one of the province’s fastest growing industries and has the potential to be a significant economic generator by creating thousands of new high paying jobs, attracting significant new investment and generating billions of dollars in exports.
These are among the findings of the Cleantech Report Card for British Columbia, conducted by KPMG in partnership with the BC Cleantech CEO Alliance.
The survey benchmarks the size and growth of the sector and identifies success factors and hurdles to its continuing growth.
BC is home to one of the most vibrant cleantech sectors in North America, the report notes. There are now 202 companies in BC whose singular focus is the research, development or deployment of clean technological innovations.
Of these “pure play” cleantech companies, more than two-thirds did not exist a decade ago.
In 2011, cleantech is forecast to employ 8,400 British Columbians, with the average industry salary coming in at $77,000. Total industry revenues are forecast to be $2.5 billion.
While the industry has succeeded in raising $843 million in total equity over the last 24 months and $4.8 billion since the companies were conceived, the report concludes that BC faces stiff competition from other jurisdictions, which makes it a priority to continue to build the province’s cleantech industry as a means of attracting entrepreneurs, capital and jobs.
The Cleantech Report Card for British Columbia is available on KPMG’s website at:
http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Cleantech-Report-Card-for-British-Columbia.aspx
