The City of Prince George has announced it has received a $500,000 grant from the province’s Rural Economic Diversification and Infrastructure Program (REDIP).
This grant will help foster the partnership established by the city's Economic Development Division with Lheidli T’enneh First Nation, Northern Health and the University of Northern British Columbia (UNBC).
This partnership is working to understand the economic impact of building a life sciences economy in the North — and will conduct an economic feasibility study on the life sciences industry itself.
The life sciences industry involves pharmaceuticals, biotechnology, medical devices and other work related to clinical health research and innovation.
The study will incorporate market research, sector analysis, engagement with interested parties, and policy and funding alignment to identify existing gaps in the region — and attract investment in the North.
The project started this spring and will be completed in phases over 18 months.
Chief Dolleen Logan said the study will help position the North in line with global economies.
“Global economies are shifting more rapidly than ever before,” said Logan. “It is prudent for us to examine pathways to enhance and secure our economic viability through a variety of growing sectors and verticals. This study reflects once again the positive outcomes of UNBC opening in our community 35 years ago.”
Deklan Corstanje, the City of Prince George’s economic development manager, also spoke about how the project can help others understand the potential of this industry in Prince George.
“This project aims to understand the potential for Prince George as a hub for health resources in the North,” said Corstanje. “We are excited to support our local partners to understand the feasibility of building a life sciences sector in Prince George — and the economic benefits it could bring to our community.”
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