Regional Tariff Response Initiative investment will help overcome challenges resulting from evolving global trade realities and strengthen B.C. businesses
British Columbia's economy is built on strong businesses in every region of the province, creating good jobs and vibrant communities. Today, many B.C. businesses - like those across Canada - are facing growing uncertainty as tariffs and rapidly changing global trade conditions increase costs and disrupt supply chains.
To remain competitive and resilient, businesses will have to pivot to new paths to growth. The Regional Tariff Response Initiative (RTRI) helps them do that work.
Today, the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada announced an investment of more than $13 million for ten Regional Tariff Response Initiative (RTRI) projects across B.C.'s Southern Interior. These investments will help businesses impacted by tariffs by helping them boost productivity, cut costs, build more resilient supply chains and reach new markets. This investment will also help protect jobs as Canada builds the strongest economy in the G7.
As part of the RTRI, these investments are in sectors that have been particularly affected by global trade disruptions - such as forestry, equipment manufacturing and value‑added wood manufacturing. The investments support individual companies as well as sector‑wide efforts to improve transportation reliability, supply‑chain visibility, and access to domestic and global markets.
Today's announcement was made at Kalesnikoff in Castlegar, a longstanding B.C. wood products manufacturer and major employer in the West Kootenays that produces engineered mass timber building materials. Kalesnikoff is receiving a repayable investment of $5.5 million to help purchase new equipment to make prefabricated housing components used in multi-family housing, schools, daycares, and commercial buildings. This equipment will increase manufacturing capacity, improve productivity, and help the company respond to trade pressures by diversifying markets.
In today's rapidly changing global landscape, the Government of Canada is building one strong Canadian economy by ensuring businesses have the tools they need to grow at home, compete globally, and create good jobs. PacifiCan is delivering targeted tariff‑response support across B.C. so businesses can seize new opportunities and position themselves for long‑term growth.
More details about all the investments announced today can be found in the backgrounder.
