P.G. Economic Development Counts Success
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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