Northern British Columbia is one of the fastest-growing economic regions
in North America. Capital investments related to transportation,
advanced manufacturing, forestry, mining and oil and gas, utilities and
public infrastructure development are driving employment growth in
communities throughout the north. It may surprise some British
Columbians that economic activity across the northern region,
specifically natural resource development, is generating approximately
70 per cent of the provincial government's annual revenue. In other
words, seven out of every 10 dollars are generated in northern BC. As a
result, continued economic growth in the north is crucial, not only for
the health of the provincial economy, but also for the government's
ability to provide public services, such as health care and education
while maintaining a balanced budget.
Over the next three years, $34 billion in capital projects will be
developed across the north. Many of these projects are already under
construction in the forestry, mining, oil and gas, and transportation
sectors. Over the next 10 years, the value of northern projects
increases to $64 billion. A few examples of current and upcoming
projects include:
. Mount Milligan copper/gold mine (Thompson Creek Metals), 155 km north of Prince George: $1.3 billion.
. Blackwater gold/silver mine (New Gold), 160 km southwest of Prince George: $1.8 billion.
. Red Chris copper/gold mine (Imperial Metals), 450 km north of Smith-ers: $443.6 million.
. KSM gold/copper mine (Seabridge Gold), 65 km northwest of Stewart: $3.5 billion.
. Kitimat Modernization Project (Rio Tinto Alcan), Kitimat: $3.3 billion.
. Northwest Transmission line (BC Hydro), Highway 37: $561 million.
. Site C Clean Energy project (BC Hydro), 7 km southwest of Fort St.
John: $7.9 billion . Coastal GasLink pipeline (TransCanada/Shell): $4
billion.
Prince George is the largest community in northern B.C. and is the
service and supply hub for most activities across the region. As such,
emerging opportunities in the immediate region and throughout the north
are driving population growth and economic growth in the city.
Year-to-date, the labour force in Prince George has increased six per
cent while employment in the city has increased by 7.1 per cent. In the
third quarter of the year alone, employment in the city increased by
2,500. As an example, in the forestry, mining, construction and
manufacturing sectors, employment doubled between January and September
2012. However, employment growth is not limited to traditional resource
sectors, but across all sectors of Prince George's diverse economy. Some
of the occupations in high demand include: licensed commercial truck
drivers, engineers, technologists, nurses, physicians and health care
aides, legal and accounting professionals, teachers, and university and
college lecturers.
The increase in employment speaks to the continued growth of the
population which, in turn, is driving increased housing units sales,
housing starts and building permits (up five per cent, 17.6 per cent and
69 per cent, respectively, year-to date). Supporting development
activities both throughout the region and within the municipality, the
construction sector is one of the largest sectors. There are
approximately 800 businesses engaged in the construction sector (13.5
per cent of total businesses), and nearly 6000 people employed with
these businesses.
The economic opportunities in Prince George are enhanced by four-season
recreation opportunities in the region's natural beauty, as well as by
the full range of urban amenities offered. For more information about
economic opportunities in Prince George and northern B.C., visit www.
initiativespg.com.
Heather Oland is the chief executive officer of Initiatives Prince George.
