"Our Infrastructure Royalty Credit Program will result in new roads to help industry access resource areas while also supporting pipeline construction to move B.C.'s natural gas out of the field and to the marketplace," says Minister Coleman. "We have a once-in-a-lifetime opportunity to develop and prosper from an entirely new export industry and this program is helping us build the capacity we need to make it happen."
This year's credits will go towards building 21 new infrastructure projects in northeast B.C., creating over 1,650 direct jobs. Like in past years, energy companies will fund the entire cost of a selected infrastructure project, and will then be able to recover up to 50 per cent of an approved project’s cost through royalty reductions.
This round of royalty credits is expected to generate approximately $260 million in new industry capital spending in B.C.