Emerging energy sector to enhance growth of Prince George economy

By Heather Oland, CEO of Initiatives Prince George

Credit: Initiatives Prince George.

Credit: Initiatives Prince George.

More than $70 billion worth of resource, utility, and transportation projects are currently underway and planned in the northern part of British Columbia over the next 10 to 15 years. Central to this immense growth and opportunity is Prince George, a thriving city with a population of almost 80,000 that is the supply, service, transportation, health, education, and culture centre for the northern B.C. region in which 335,000 people live.

The energy sector is of increasing importance to the city’s economy that is well diversified across a variety of sectors, including forestry, mining, manufacturing, construction, transportation, education, and healthcare.  The B.C. government has committed to the development of the liquefied natural gas (LNG) sector and intends for the first LNG plant to be operational by 2015, with three LNG facilities up and running by 2020.  The pipelines that are proposed to transport LNG to the ports of Kitimat will likely route through the Prince George region, which creates considerable opportunities for Prince George firms engaged in professional services, manufacturing and fabrication, construction, and transportation.  In addition to the significant pipeline development opportunities, also possible is the transportation of LNG via rail from facilities in and around Prince George, creating opportunities for industrial land development, permanent job creation, and service and supply work in a variety of sectors.

27-2The increased activity and revenue from the northern land base is leading to increased productivity in the design, construction, manufacturing, transportation, retail, health, education, and professional services sectors in Northern B.C.  As Prince George is the supply and service hub for this economic activity, local firms are already supporting forestry and mining operations and are prepared to service the growing oil and gas sector.

The city is well connected to domestic and international markets through an international airport (YXS), the transcontinental CN Rail line, provincial Highways 16 and 97, and its proximity to the major west coast ports of Vancouver and Prince Rupert. In addition, the city also offers well planned and affordable light and heavy industrial lands, as well as a highly competitive tax climate. The increased activity in Northern B.C., as well as the superior transportation connectivity, skilled workforce, and health and education amenities in Prince George makes the city the preferred location for companies looking to establish or expand their operations.

Opportunity is in Prince George – we look forward to doing business with you.

For more information about investment opportunities, contact:

Initiatives Prince George Economic Development Corporation

info@initiativespg.com | www.investprincegeorge.ca

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