Cleantech Report Card for British Columbia - Great Opportunity for Growth
A new report card for British Columbia's cleantech industry touts the tremendous economic growth and opportunities in Canada's West Coast province.
The Cleantech Report Card for British Columbia [pdf], which came to fruition from a partnership between advisory firm KPMG LLP and the BC Cleantech CEO Alliance, is an evaluation of current cleantech industry on B.C.'s economy. It also serves as an indicator for what the industry needs to do to monitor and maintain the course.
As expected, the news is good, and the stats indicate nothing but promise and opportunity. The most impressive stat? In 2011, revenues from cleantech industry firms are forecasted to be around the C$2.5 billion (up 57% from 2008), with 8,400 industry jobs boasting an average salary of $72,000.
Total equity raised by all cleantech firms in B.C. is estimated at C$843 million over the last 2 years and C$4.8 billion since inception.
Energy-related technologies are at the heart of B.C.'s considerable numbers. Of the surveyed companies, 63% described their operations as being energy-related technology; 33% more specifically focused on energy generation.
At the heart of the report is the need for continuing government support, as the industry is constantly facing stiff competition from other jurisdictions and in need of attracting entrepeneurs and jobs.
The report also shows how B.C.'s rise to being a cleantech world leader has happened very quickly. Most of the 200 "pure play" companies did not exist 10 years ago.
This study offers a "strong validation that British Columbia is home to an emerging clean technology sector that is well positioned to be a source of world class innovation,' says Jonathan Rhone, President and CEO, Nexterra Systems Corp, and Chair of BC's Cleantech CEO Alliance.
Harry Tournemille has been covering renewable energy and cleantech sectors for Energy Boom for almost two years. With a focus on solar, wave, and biofuel energies, Harry looks to find real-life applications for the host of information being put out on a daily basis.
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