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October 27, 2017 7:25 pm

P.G. Economic Development Counts Success

Monday, January 9, 2017 @ 7:05 PM


Prince George, B.C.-  Moving the  Economic Development  arm of the City of Prince George into  City Hall has resulted in  savings of  half a million dollars.

That  was one of the highlights of the report delivered  to Prince George City Council  by Melissa Barcellos, Manager of Economic Development.

Barcellos says  over the past year,  private investment in  Prince George has reached an all time high hitting $122.5 million dollars.

There  is more good news,   in  increased  interest  from  investors,  with  36 prospect inquiries in 2016  compared to 26  in the previous year.

Barcellos says the business attraction strategy will focus on  forestry innovation,  engineered wood products and green data centres.

There is still a great deal of  interest  in the Move Up Prince George project,  especially when an info graphic  showing comparisons  of Prince George and Vancouver housing costs was published in Vancouver.

One of the new programs being introduced by the Economic Development  department is a concierge  service, that will  help  investors  move through the development process.




Based on the cpi calculation of converting C$ from 2016 to 1975 $ the equivalent would be around $28 million.

I believe the highest building permit value around 40 to 45 years ago was above $40 million. That is based on CPI calculations.

There should be a different inflationary value for construction because of the higher rate in inflation due to energy costs as well as technology changes which increase costs as well.

So, of course building construction increases in cost every year, so it will normally be higher as the years pass. It is not a fair comparison when stating that we are getting record years.

Use square footage, use housing units, use constant dollars. Do no try to pull the wool over the eyes of people who know better.

Aside from that …. it is nice to see the construction over the last year.

BTW, in a few of those year there were between 1,000 to 1,200 or so houses constructed.

It will likely take many more decades before we equal that, if ever.

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