Summary

• An economic development program in Terrace is receiving almost $80,000 to attract new commercial, industrial and service-sector investment
• The initiative will develop an investment attraction plan, promotional materials to highlight Terrace’s competitive advantages, positioning the city as a regional service and logistics hub that will support long-term economic growth
• The program is funded through the Province’s Rural Economic Diversification and Infrastructure Program

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People in Terrace will benefit from new opportunities for business growth and investment thanks to provincial support for a community-led program that aims to attract new investment to the community.

Through the Rural Economic Diversification and Infrastructure Program (REDIP), the Province is providing nearly $80,000 to the Terrace Downtown Improvement Area Association for its commercial investment attraction initiative. The funding will help attract new businesses, encourage investment and create sustainable local jobs.

“People in Terrace deserve the opportunity to build rewarding careers and a strong future in their own community,” said Ravi Kahlon, Minister of Jobs and Economic Growth. “By investing in initiatives like this, we’re helping the community showcase its strengths, attract new opportunities and connect people with good jobs as local businesses grow. Through our Look West strategy, we’re working with communities to create lasting opportunities for people, strengthen regional economies and build a more resilient future for British Columbia.”

Attracting investment, supporting local businesses

The initiative will develop a professional investment attraction plan and promotional materials that highlight Terrace’s strengths, including its strategic location, transportation connection and capacity for business growth.

“A strong downtown is the heart of a strong community,” said Joseph Lavoie, president, Terrace Downtown Improvement Area Association. “With the Province’s support through REDIP, the Terrace Downtown Improvement Area can attract the commercial investment that creates jobs, services and vibrancy for everyone who lives, works and does business here. This plan ensures Terrace is ready to welcome the growth coming to northwest B.C.”

The initiative will help:

• attract new investment and business activity
• showcase Terrace’s strategic location and transportation connections
• support local job creation and economic diversification
• position Terrace to benefit from major regional projects

Together, these efforts will position Terrace as a key regional service and logistics hub in northwestern B.C., supporting long-term economic growth and new opportunities for local businesses and residents.

“Terrace has a strong foundation for future success, with a skilled workforce, strategic location and strong connections across northwest B.C,” said Tamara Davidson, MLA for North Coast-Haida Gwaii. “This initiative will help showcase the community’s strengths and ensure Terrace is ready to welcome new business activity and opportunities for local residents.”

Supporting economic diversification through REDIP

The Rural Economic Diversification and Infrastructure Program supports economic diversification and resilience, strengthens economic capacity and supports infrastructure development in rural and Indigenous communities in B.C.

Since 2022, the Province has invested $156.5 million through REDIP, supporting 525 projects throughout B.C. and creating an estimated 7,500 jobs in rural communities.

Learn More:

• To learn more about the Rural Economic Diversification and Infrastructure Program and see the lists of approved projects, visit: https://gov.bc.ca/redip