By Cheryl Jahn

Major Northern BC projects good for economy

Mar 3, 2021 | 4:03 PM

PRINCE GEORGE – We’ve all seen the railcars loaded with pipe, heading to a major resource project somewhere in Northern BC. According to the Chartered Professional Accountant of BC’s BC Check Up report, it’s those projects that have cushioned the economic blow of COVID-19 to this region. But there’s something even more telling to Stan Mitchell with KPMG.

“There’s a lot of private money going in,” he notes. “Not only in housing. You drive around town, you drive around the downtown, you see the condo complex, you see the hotels.”

The Lion’s Share of the building permits issued by the City in January and the value of the permits is attributed to the construction of multi-family dwellings. Terri McConnachie with the local Homebuilders Association attributes part of those numbers to nuclear families, like children leaving their parental homes to buy for themselves while it’s affordable. But she adds, there’s no question in her mind that the city is growing and the census il likely bear that out.

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“I look forward to the census results come in. Because it will be enlightening.”

The BC Check Up report noted that capital spending in major projects grew by 46% in the third quarter of last year over the same period the year before. And it was also noted that the momentum isn’t waning. The report notes that the region “also has 24 major projects in the proposal stage with an estimated cost of $10.4 billion, including several expected to begin construction in 2021.”