# Pacific Economic Development Canada

Pacific Economic Development Canada is an Economic Development based in Vancouver, Canada.

## Overview

- **Organization type:** Economic Development
- **Headquarters:** Vancouver, Canada
- **Region:** North America
- **Address:** Vancouver, British Columbia, Canada
- **Founded:** 1988
- **Assets under management:** Undisclosed
- **Website:** canada.ca/en/pacific-economic-development
- **LinkedIn:** https://www.linkedin.com/company/pacific-economic-development-canada

## Regulatory record

- **Reports private funds:** No

## About

Pacific Economic Development Canada, also known as PacifiCan, is a regional development agency based in Vancouver, Canada. Founded in 2021, it focuses on enhancing innovation, improving business competitiveness, and promoting inclusive growth in British Columbia's economy. As of January 19, 2026, PacifiCan has made 39 investments, including a loan to MAKR Group.

## Questions

### How is PacifiCan different from the old Western Economic Diversification Canada?

Western Economic Diversification Canada was split into two agencies in 2021: PacifiCan serves British Columbia exclusively, while PrairiesCan handles Alberta, Saskatchewan, and Manitoba. The split recognized that B.C.'s economy — with its deep Asia-Pacific trade links, tech clusters, and distinct resource base — required a dedicated federal development agency, a structural change announced in Budget 2021.

### What sectors does PacifiCan fund?

PacifiCan's programs are open to a broad range of sectors aligned with British Columbia's economic priorities. Observable funding has concentrated in clean technology, life sciences and biomanufacturing, digital media and interactive entertainment, advanced manufacturing, and value-added resource processing. The agency also funds tourism infrastructure and community economic development in rural and Indigenous communities.

### Does PacifiCan take equity positions in companies?

No. PacifiCan's financial instruments are limited to grants and conditionally repayable contributions. It does not acquire equity, board seats, or governance rights in recipient organizations. This is a fundamental distinction from crown corporations like BDC Capital or federal venture programs administered by other departments.

### What is PacifiCan's annual budget?

PacifiCan's planned expenditures for 2023–24 were approximately $200 million, as published in the Government of Canada's Main Estimates (per Treasury Board of Canada Secretariat, 2023). This figure encompasses both operating costs and the grant and contribution funding disbursed to external recipients. Annual appropriations vary with federal budget cycles and time-limited program envelopes.

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Last updated: 2026-06-03T20:00:00.000Z

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