Jobs and Economic Growth
Summary
- Provincial investment helps Quantum Technology Corp. expand helium and hydrogen technologies manufacturing in Squamish, creates 10 new jobs
- The investment supports B.C.’s Look West strategy by growing local manufacturing capacity for major projects
__________
A Squamish-based industrial helium and hydrogen systems manufacturer is being supported by the Province to grow its production capacity, produce a wider range of products and create more good jobs for people in the community.
Through the BC Manufacturing Jobs Fund and the Look West strategy, the Province is providing as much as $400,000 to Quantum Technology Corp. This funding will help Quantum Technology double the size of its manufacturing space and purchase the specialized equipment it needs to meet the growing demand in the sector. The project will enhance internal manufacturing capabilities, bringing production of crucial components in-house and being more self-sufficient, rather than buying goods and services from suppliers, while creating 10 new jobs.
“B.C.’s manufacturing sector is a cornerstone of our economy, creating good jobs and building stronger, more resilient supply chains,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “That’s why we’re making strategic investments to help innovative companies like Quantum Technology grow, compete and succeed. This is what our Look West strategy is about - supporting high-value B.C. manufacturing that creates new opportunities for workers, while driving economic growth in communities across the province.”
Expanding capacity, creating new jobs
Quantum Technology Corp. is a developer of advanced gas recovery, purification and liquefaction systems specializing in helium and hydrogen technologies for industrial applications.
“With support from the BC Manufacturing Jobs Fund, we’re expanding our Canadian facility to enhance production of our advanced recovery, purification and liquefaction systems for specialty gases, especially helium and hydrogen,” said Elena Baglietto, chief operating officer, Quantum Technology Corp. “This investment strengthens B.C.’s clean tech sector, supports highly skilled jobs and boosts our capacity to deliver specialized technologies to global markets – designed and built right here in British Columbia.”
BC Manufacturing Jobs Fund driving major investment
The BC Manufacturing Jobs Fund supports high-value industrial projects in all regions of the province, helping companies modernize, grow and create stable supply chains and family-supporting jobs.
During the construction phase of these projects and in their first few years of expanded operations, the BC Manufacturing Jobs Fund is expected to generate $17 billion in new economic activity, nearly $7 billion to B.C.’s gross domestic product and $714 million in provincial revenue.
“B.C. companies are stepping up with innovation and expertise that’s in demand around the world,” said Paul Choi, parliamentary secretary for trade. “Investments through the BC Manufacturing Jobs Fund help businesses like Quantum Technology Corp. scale up, strengthen our export capacity and position B.C. as a leader in advanced manufacturing. This support is about opening new doors for trade, creating jobs and ensuring our province remains competitive in a rapidly changing global economy.”
This work is part of the Province’s Look West strategy for jobs and industry, which outlines B.C.’s vision to deliver jobs and opportunities for people by strengthening the workforce to develop a more independent and resilient economy.
This includes delivering major projects quicker, diversifying markets and growing targeted sectors, such as technology, aerospace, marine, AI and Quantum, life sciences, agriculture and construction innovation.
Quick Facts:
- More than $1.2 billion is being invested in more than 155 capital projects funded through the BC Manufacturing Jobs Fund.
- Almost $155 million has been committed from B.C. so far, unlocking more than $1 billion in private-sector and other public investment.
- Every $1 million invested results in $64 million in total direct capital investments in B.C., $4.8 million in tax revenue to the Province and $46 million in provincial GDP during the construction phase of these projects and in the first few years of expanded operations.
- Funded projects will create more than 2,100 jobs and protect more than 2,700 jobs.
Learn More:
To learn more about Look West: Jobs and Prosperity for BC and Canada: https://gov.bc.ca/LookWest
