Want to know why productive capital investment has fled BC… heard the following from a company trying to invest millions in a facility expansion on one of their existing sites on PRIVATE land… come along for the ride in the thread below @JohnRustad4BC @Dave_Eby … /1
The expansion on private land required a heritage inspection permit, even though the proposed expansion was no where near the identified archeological site, the gov't wants a First Nations support letter (due to the BC NDP adopting DRIPA) /2
Knowing this, the First Nations group is trying to extort the company… asking for an up front cash payment… plus a future royalty stream on the investment (even though the First Nation is putting up ZERO capital or risk)… remember this is on PRIVATE land required /3
The implied royalty rate request has an implied cash yield well in excess of 20%… for putting up ZERO capital or risk on PRIVATE land… This what companies across all industries in BC are facing… and you wonder why no one wants to invest in BC and its policy environment… /4
To be fair, there are other First Nations that want to work with the private sector on commercial arrangements and are not like this… but there are some throughout the province who seem more interested in extortion… this needs fixing immediately @bcndp @Conservative_BC /5
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