24 - Wednesday, September 16, 1987 - North Shore News Business cay eras Feds increase science project funding AS PART of InnovAction, the new Canadian strategy for science and technology, the federal gov- ernment is expanding Supply and Services Canada's Unsolicited Proposals Program (UP) bridg- ing fund by $30 million. This funding increase provides more opportunities for businesses across Canada to propose and undertake innovative projects in the field of science and technology. Supply and Services minister PNE boosts | economy, | isays study} A RECENTLY-completed in- dependent economic impact study on the Pacific National Exhibition done by the management con- sulting firm of Laventhol & Hor- wath shows operations at Exhib- ition Park will contribute the amount of $420 million (1987 dollars) to the economies of the Greater Vancouver Regional District (GVRD) and the province ~~ an increase of $7.9 million compared to 1985. The figures arc about five times greater than those of B.C. Place and the Vancouver Trade and Convention Centre combined for 1987. The study looked at five main components of the PNE’s business and related operations. These in- clude: © year-round PNE operations in- cluding trade/consumer shows, sporting events (excluding the Vancouver Canucks), concerts, and activities in other PNE facili- ties; * the annual 17-day fair; e Playland; * B.C. Jockey Club; * Vancouver Canucks. The figures represent the total economic impact of the PNE’s direct revenues, payroll, purchases, associated employment, and off- site visitor expenditures. “We're absolutely overwhelmed with the results of the study,’’ said PNE president Erwin Swangard. “The report clearly and objectively demonstrates the far-reaching im- pact which the PNE’s complex operations have in the GVRD area and the whole province “The results show we've surviv- ed the past few years extremely well and that our business base has increased; it's great news." The report estimates that ap- proximately 62 per cent ($248.6 million) and 60 per cent ($246.6 million) in 1985 and 1987 respec- tively are the direct impact of the PNE’s five components and associated off-site visitor impacts. The indirect and induced im- pacts for the two years surveyed total $163.7 and $173.5 million. Visitors to Exhibition Park generated approximately $36 mil- lion and $39.2 million in 1985 and 1987 of off-site revenues and employment to the B.C. economy. Total economic impact for all components of the PNE’s opera- tions for the surveyed time period was $111,864,530 and $118,213,800 respectively. Laventhol & Horwath used the following criteria to measure the economic impact of the PNE and its operations: revenues generated, supplies and services, payrolls, and indirect payrolls. Vezina made the an- nouncement recently. ‘The in- creased funding will be spaced evenly over three years, starting this year,"* said Vezina. Added Vezina, ‘‘This funding increase is part of the $100 million announced last) July by Frank Oberle, Minister of State (Science and Technology) for the InnovAc- tion strategy for science and tech- Monique The Great Canadian Shoe Store nology. This increase reflects this government's commitment to in- creasing Canada’s industrial com- petitiveness through technological development and innovation.” The Unsolicited Proposals Pro- gram for science und technology, created in 1974, encourages the private sector, particularly small business, to submit written pro- posals containing unique ideas or opportunities which respond to government needs in research and development, On average, the bridging fund finances 40 to SO per cent of an approved project while the spon- soring department pays the dif- ference. About 4S per cent of firms tak- ing part in the program are small businesses with fewer than 50 Leather Fashion Boots ... by Cougar Fashionable leather boots in the latest fall styling. Made in Canada. Available in black or white in ladies’ sizes 6 to 9. Regular Kinney Price $59.99 to $84.99 Over 150 stores from coast to coast. employees. Many are located out- side of Canada’s major industrial sectors, in all parts of the country. The new budget for this and each of the next two fiscal years ending March 1990 will be $23 mil- lion. As of July 34, 1987 a total of 1,633 Government of Canada con- tracts worth $244 million hive been awarded under the program. Sale ends September 26th, 1987.