Jobs and Economic Growth
Summary
- Nanaimo manufacturer is receiving $900,000 to help triple the amount of steel it fabricates, hire more people
- Investment strengthens advanced manufacturing in the region, part of $5 million in total capital investment
- This supports B.C.’s Look West strategy by delivering more jobs, opportunities in the region
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As U.S. tariffs create new challenges for the steel industry and infrastructure projects, a Nanaimo steel manufacturer will be able to triple the amount of steel it fabricates and hire more people, with new provincial support through B.C.’s Look West strategy.
“Our steel sector is facing real challenges from tariffs and market volatility, and it’s never been more important to support our homegrown businesses to get more B.C. products and jobs involved in infrastructure projects,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “That’s why our government continues to make investments that help companies grow, modernize and pursue new opportunities. This is another way that our Look West strategy is growing the economy and supporting long-term prosperity for people and businesses throughout British Columbia.”
As part of the B.C. Manufacturing Jobs Fund, the Province is providing $900,000 to support the growth of Niik Steel in Nanaimo, leading to a total capital investment of $5 million.
This investment is supporting the structural steel fabricator on Vancouver Island to grow, reach new markets and customers, and hire more people in Nanaimo.
Supporting manufacturing growth on Vancouver Island
This provincial investment will support Niik Steel to increase the amount of steel it fabricates in-house and create 26 jobs, while strengthening B.C.’s steel manufacturing sector. This will result in more B.C. steel and jobs contributing to infrastructure projects that people rely on every day.
The funding will be used to build a new, up to 750-square-metre (8,000 square feet) building, and to expand Niik Steel’s existing facility, helping to streamline production.
Niik Steel will also buy new automated and advanced equipment to reduce production bottlenecks and improve efficiency. This will allow the company to take on larger and more complex projects and help meet growing demand.
“This investment strengthens Nanaimo’s position in B.C.’s manufacturing economy by helping our local company expand production capacity and compete for larger projects,” said George Anderson, MLA for Nanaimo-Lantzville. “Supporting Niik Steel means more value-added work is done here at home, strengthening local supply chains and generating long-term economic benefits for our region. This growth will help create stable jobs and contribute to a more resilient and diversified Vancouver Island economy.”
Fund drives major investment, economic growth
The B.C. Manufacturing Jobs Fund supports high-value industrial projects in all regions of the province, helping companies modernize, grow and create stable, family-supporting jobs.
More than $1.2 billion is being invested in the 156 capital projects funded through the fund, with as much as $154 million in provincial funding committed so far, creating more than 2,100 jobs and protecting more than 2,700 jobs.
During the construction phase of these projects and in their first few years of expanded operations, the 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.
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.
It 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.
Quotes:
Sheila Malcolmson, MLA for Nanaimo-Gabriola Island –
“Nanaimo’s Niik Steel is helping us build the housing and infrastructure B.C. needs. And so we’re helping Niik Steel, with funding to grow their workforce and respond to pressure on steel fabrication from U.S. tariffs. That means more reliable jobs in our community and greater economic stability for Vancouver Island.”
Amir Jamshidi, president, Niik Steel –
“Niik Steel’s investment in advanced fabrication capacity will create high-skill jobs in the region and shorten supply chains for British Columbia infrastructure projects. Support from the Manufacturing Jobs Fund accelerates our expansion and anchors critical steel fabrication in the province, supporting resilient, low-carbon construction and long-term growth in B.C.’s manufacturing sector and responsive supply chain.”
Learn More:
- To learn about the B.C. Manufacturing Jobs Fund, including a list of recipients, visit: https://www2.gov.bc.ca/gov/content/employment-business/economic-development/support-organizations-community-partners/rural-economic-development/manufacturing-jobs-fund
- To learn more about Look West: Jobs and Prosperity for a Stronger B.C. and Canada, visit: https://gov.bc.ca/LookWest
