VICTORIA - The government is establishing the B.C. Progress Board to help fuel economic growth by setting performance benchmarks for the provincial economy, Premier Gordon Campbell announced today.

"My government is committed to building a thriving private-sector economy that creates highly paid jobs and new opportunities for all British Columbians," Campbell said. "To restore British Columbia's competitive edge, it's important that we establish clear standards for our provincial economy and that we measure our performance in meeting those goals.

"The B.C. Progress Board will provide a new level of accountability for our government by establishing specific economic goals for the tax, regulatory and fiscal reforms we undertake."

The independent panel will be chaired by David Emerson, CEO of Canfor, and will comprise 15 other senior business executives. All members are volunteering their time. Tim McEwan, formerly of the Business Council of B.C., will serve as executive director, reporting to the board chair.

The Progress Board will determine specific measures and relevant jurisdictions for comparison, with input from other experts and the public. It will identify measures to track B.C.'s performance in other areas - such as health, education and environmental protection - to ensure the province is addressing the full range of social opportunities and services that contribute to prosperity. In addition, it will advise the premier on steps to improve performance.

The board will report to the premier twice a year on B.C.'s economic progress to provide a framework for the government's budget preparations. Board staff will begin work the first week of August, and the board will hold its first meeting by mid-September.

"The B.C. Progress Board will play an important role in helping us renew prosperity and opportunities for all," Campbell concluded.