BC livestock producers are poised for record capital spending this year, according to Statistics Canada.
Results of Statscan’s annual survey of capital expenditures, released February 25, indicate projected investments in construction and machinery this year of $303.7 million, up from $302.6 million in 2020.
Spending on construction is anticipated to be the greatest since 2020 at $139.1 million, while spending on machinery and equipment will be second only to 2022 at $164.6 million.
But together, spending tops previous tallies.
The figures for livestock operations trounce those for crop producers, which continue to see muted investment.
Total capital spending by crop producers is forecast at $214.8 million. This is slightly higher than in the past two years, yet the third lowest of the past decade, and less than half the record $466.5 million spent in 2020.
Most of capital spending will flow into construction projects, which will rise to $129.5 million while spending on equipment and machinery will inch down to $85.3 million.
The investment will be supported by measures such as a January 26 federal announcement of immediate expensing for greenhouse buildings.
“This allows producers to fully write off greenhouses acquired on or after November 4, 2025, and that become available for use before 2030,” a statement announcing the measure said. “[This] supports increased domestic supply and investment in food production over the medium-term.”
All content on this website is copyrighted, and cannot be republished or reproduced without permission.
Greater interest in dairy