BCEDA Urges Financial Assistance for Disaster-Impacted Businesses

NEWS RELEASE
For Immediate Release
 
BCEDA Urges Financial Assistance for Disaster-Impacted Businesses
 
Penticton, BC, July 25, 2024 – The BC Economic Development Association (BCEDA) has formally requested the Province of British Columbia to establish a comprehensive financial assistance program to support businesses affected by natural disasters. This initiative aims to mitigate the severe economic impacts experienced by businesses forced to close due to wildfires, floods, and other disasters.

BCEDA President and CEO Dale Wheeldon highlighted the importance of this program, stating, "Economic recovery after a disaster is often overlooked, which can have dire consequences for local economies. Businesses are the backbone of our communities; without them, we lose jobs and the people who make up our communities."

The proposed program would provide businesses with crucial financial relief, helping them recover and sustain their operations during and after disasters. BCEDA, with over 500 members and an extensive network of economic development contacts across every community and First Nation in BC, is prepared to collaborate closely with the Province to develop and implement this program, including assisting with fund distribution if necessary.

BCEDA has a proven track record in economic recovery, having worked in BC, Alberta, Saskatchewan, Cambodia, and the United States at the request of the US Government. The association also assisted in developing the US Economic Recovery Framework in 2013 and has consistently been the first organization to respond to the economic impacts of disasters in BC.

"Every year, BCEDA is the first to respond by establishing information and resources to assist communities, businesses, and organizations dealing with the immediate economic impacts of disasters," said Wheeldon. "While we've had to reduce our efforts this year due to a lack of resources, we remain committed to helping as much as possible."

BCEDA has been requesting this type of program, just about every year since 2013, with no success. We have yet been able to secure a formal meeting in recent years, to advance these initiatives. The association urges the Province to consider viable options for supporting businesses in disaster-stricken areas and to engage in further discussions to explore potential solutions.

The association's previous work has shown that businesses in communities like Golden, Williams Lake, Wells/Barkerville, Silverton, New Denver, Fairmont, Radium, Ashcroft, and others are under significant stress due to past wildfires and floods. It is critical to act swiftly to avert an economic crisis in these areas.
 
BCEDA remains committed to supporting economic growth and resilience in British Columbia and looks forward to collaborating with the Province to ensure businesses have the necessary resources to recover and thrive after disasters. Contact:
Dale Wheeldon, President and CEO, BCEDA
T: (604) 819-3809
E: dwheeldon@bceda.ca
 
About BCEDA:
The BC Economic Development Association (BCEDA) is the leading professional association of economic developers in British Columbia. Established in 1981, BCEDA provides services and resources to economic development practitioners, businesses, and communities across the province to support economic growth and resilience.  BCEDA’S Wildfire Resources can be found at https://www.bceda.ca/wildfires.php