Victoria – The governments of British Columbia and Canada are celebrating 20 years of supporting B.C. farmers and food processors develop new products, processes and markets through government-funded programs delivered by the Investment Agriculture Foundation of British Columbia (IAF).
To mark its 20th anniversary, IAF commissioned an economic assessment to quantify the impact of government funding delivered by the foundation since its inception in 1996. IAF has the important task of managing Government of Canada and British Columbia funding that supports innovation, market development and adaptability in B.C. agriculture.
The key findings in the report, Economic Impact Assessment of Government Funding Delivered by the B.C. Investment Agriculture Foundation, included:
- Economic impact: $355 million (converted to 2015 dollars)
- Total invested: $192 million (converted to 2015 dollars)
- Impact for each dollar invested: $1.85
- 2,824 person-years of employment generated throughout the province
- Tax revenue generated: $10 million
In its first 20 years, IAF has delivered government funding to more than 1,700 projects across British Columbia.
The full report, prepared by R.A. Malatest & Associates, is available at: www.iafbc.ca/impact
IAF is an industry-led, not-for-profit organization representing the agriculture, food processing, farm supply and post farm gate sectors throughout British Columbia.
Norm Letnick, B.C. Minister of Agriculture –
“The IAF has delivered B.C. and Canadian government-funded programs that have made a huge difference for individual B.C. farmers and producers, as well as our provincial economy. With programs that help B.C. companies expand their local and export market share, develop new technology, products or processes and support adaptation to climate change, IAF helped B.C. producers achieve a record $12.3 billion in revenue in 2014 and I look forward to our continued efforts and success to help the sector grow in the future.”
Ken Bates, chair of Investment Agriculture Foundation of B.C. –
“This report shows how collaboration between senior levels of government and the agriculture industry can make a significant difference to agriculture and agrifood in B.C. By working together we are strengthening the industry and keeping B.C. competitive locally and on an international level.”
David Geen, owner, Jealous Fruits –
“Export funding helped us develop multiple sales opportunities and get higher prices. Sales are up over 50% from last year and 85% of our fresh cherry harvest is exported worldwide.”
Nova Woodbury, executive director, BC Association of Abattoirs –
“Funding support from the B.C. government has been instrumental in helping us build industry capacity, connect chefs, retailers and consumers directly to the producer with improved ordering systems and raise awareness about the many benefits of buying local B.C. meats.”
Miles Prodan, president and CEO, B.C. Wine Institute –
“As a B.C. agrifood industry, contributing $2 billion each year to the provincial economy and growing, the B.C. wine industry has relied on the support of IAF to achieve growth of B.C. VQA wine sales in a competitive environment with increased supply. In 2015, the British Columbia Wine Institute launched a ‘Be Label Conscious’ campaign with support of the B.C. Buy local program. At the completion of the campaign B.C. VQA wine sales in litres were up 10.03% over the previous year and increased 5.53% ahead of the total market growth.”
- Jealous Fruits received $70,700 in 2015 through the B.C. Agrifood and Seafood Export Program under Growing Forward 2, a federal-provincial-territorials initiative.
- BC Association of Abattoirs received $80,200 through the B.C. government’s Buy Local program.
- The BC Wine Institute received $137,035 through the B.C. government’s Buy Local program and through the B.C. Agrifoods Export Program under Growing Forward 2, a federal-provincial-territorial initiative.