P.G. Economic Indicators Look Good

Monday, May 03, 2010 04:26 AM

Prince George, B.C.- The latest economic indicators for Prince George are showing some improvement.

Initiatives Prince George has crunched all the numbers and says the number of people working in Prince George in March, increased for the fourth consecutive month. There was a 5.1% (2,200 people) increase in employment in March. That’s up more than 8% over the same month a year ago. On the other side of the coin, the IPG report says unemployment dropped 3% to 9.3%.

There has been more real estate activity in the first quarter of 2010. In Prince George, 246 properties of all types, worth $54.6 million dollars, were sold in the first three months of this year, compared to 208 properties worth $45.7million during the same period last year. The average price of home has also increased. It is up 5.7% this year compared to the same quarter of 2009.

When it comes to construction, there were 8 housing starts in Prince George in March (all single family units), 6 more than in the same month last year and 2 more than in March 2008. Year-to-date, starts were up 125.0% over the same period last year.

The City of Prince George issued 54 building permits valued at $8.5M in March; the value of permits issued was up 638.2% compared to the same month last year. Residential building permits accounted for 56.4% of the total value of permits issued, largely due to permits for 17 single family dwellings.

The City also issued 158 new business licenses and 169 license renewals in March. Year to date, there has been an increase in renewals of just over 27%, but an 18.1% decrease in new licenses.

Air travel is still down, as 59,080 passengers passed through the Prince George airport in January and February. That’s a 3.4% drop compared to the first two months of last year. By comparison, traffic through Vancouver was only up by 0.7% during that time period which includes people coming and going from the Olympics. Had the Olympics not been on, Vancouver likely would have seen a decline as well.

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Posted on Monday, May 03, 2010 04:26 AM in News by 250 News

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Comments

Posted by: Municca on May 3 2010 7:51 AM

158 new business licenses? Come on! That seems a bit out there.

Posted by: Stompin Tom on May 3 2010 8:03 AM

actually no, not a stretch, when you factor in how many home business's there are, how many 2nd income business's people start, then there is the owner operator business's.

You want a quick tax break if you have a little disposable income? Go to Ritchie Bros next week, buy a very cheap piece of equipment, get a business liscense and a GST number and wala, you have a small business. All you have to have is a reasonable expectation of profit, and your on your way. Go plow a couple of driveways next winter.

Posted by: gus on May 3 2010 8:24 AM

I prefer buying a couple of model airplanes, offering a model airplane flying class, printing some flyers, taking them around to bulletin boards, starting up a web page, rustling up some kids and dads/moms and charge them $10/half hour/head. :-)

Will I make a profit? Like Stompin says, who cares.

Posted by: nu2PG on May 3 2010 9:15 AM

Good for you Gus, It is important to share our knowledge with others. Great ideas can come from small influences and you never know where that will lead!! You could be inspiring a future entrepreneur.

Posted by: gus on May 3 2010 9:18 AM

nu2PG

Hmmm ... is that two nudists from PG? :-)

Posted by: DPJ on May 3 2010 10:28 AM

Where are the nudists here?

Posted by: Loki on May 3 2010 10:40 AM

http://www.gotopless.org/

http://gawker.com/5528477/women-in-maine-stage-topless-protest-for-equality

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/7557632/Women-walk-topless-through-US-city-in-protest.html

There u go!

Posted by: TOFC on May 3 2010 12:00 PM

NICE! Thanks Loki...

Posted by: hammmy on May 3 2010 4:39 PM

So where's all the manufacturing jobs that'll employ 300 to 500. That's what I want to see happen in this town.

Posted by: RUEZ on May 3 2010 6:08 PM

We need to diversify. High paying manufacturing jobs are great until a downturn in the economy. It's a wonder we got through as well as we did.

Posted by: Harbinger on May 3 2010 8:13 PM

One shouldn't have to open a home based business just for a couple of (imagined) tax write offs. Not very many deductions on yer income tax form? Too bad, so sad. We are extremely overtaxed and shouldn't have to resort to going into business for ourselves to pay fewer taxes. besides, if things get really tough, it's easier to start a revolution than it is to beat the taxman.

Posted by: gus on May 3 2010 8:35 PM

http://www.newood.com/images/NEWOOD/NWPlant.htm

These kind of wood manufacturing plants are much more recession proof. Pay less per hour than saw and pulp mills, but the jobs are more secure over the long term.

Posted by: Andyfreeze on May 4 2010 7:33 AM

Nudists...Salmon River.
I seen 'em a few years ago...whoa!
Not pretty!