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BC attracting most investment in Canada: report

Thomson Reuters report says province drew 20% of all venture capital investments in second quarter.


August 22, 2012
by The Canadian Press

VICTORIA—The BC government is touting a new report that says the province is attracting more investment than other jurisdictions in Canada.

The report prepared for the Canadian Venture Capital and Private Equity Association suggests investment activity rose by 71% in BC in the second quarter this year compared to 2011.

The report by Thomson Reuters says the province drew more than 20% of all venture capital invested in the country.

It also says the largest deal made in Canada during the second quarter happened in BC, with computer hardware company D-Wave attracting a nearly $36-million investment.

The report pegs Vancouver as the country’s second-largest economic hub, with Toronto currently in first place.

Jobs Minister Pat Bell credits the province’s low-tax, stable investment climate for boosting the economy and creating employment.

©The Canadian Press