dailynewsnblog
Expanded program offers funding to help businesses in B.C. manage tariff costs, adapt operations and find new markets
B.C. businesses can now apply for expanded federal tariff relief as new U.S. tariffs take effect.
Eligible businesses across the province can access up to $3 million in government funding they don’t have to repay through Pacific Economic Development Canada (PacifiCan), according to a Sept. 8 news release.
Through the Regional Tariff Response Initiative, businesses can receive up to $2 million to help manage cash-flow problems and cover costs caused by tariffs, said federal Housing Minister Gregor Robertson, who’s responsible for PacifiCan.
Companies can access up to $1 million for projects to adapt their operations and develop new products or services in response to the tariffs.
Businesses taking on larger projects can access more than $1 million in funding that they will have to repay the federal government.
PacifiCan will work with small- and medium-sized businesses and eligible not-for-profit organizations in B.C. to assess their needs and connect them with other federal support.
In August, the federal government announced a $7.5-billion package to help Canadian businesses strengthen supply chains, improve productivity and diversify markets in the wake of tariff threats from U.S. President Donald Trump. The package included an additional $1.5 billion for the tariff response initiative.
[email protected]
BIV’s free newsletters cover daily business, real estate, B.C. politics and more. Sign up here for B.C.’s most important business news delivered directly to your inbox.
