Port of Prince Rupert A Growing Economic Force
By 250 News
Tuesday, May 11, 2010 03:53 AM
Prince Rupert, B.C.-A new economic impact study commissioned by the Prince Rupert Port Authority says the Port of Prince Rupert's new container terminal and other port facilities, have a significant economic generating capacity that are contributing to the economy of northern B.C. communities and to that of Western Canada.
The annual economic impact includes $280 million in Gross Domestic Product (GDP), $500 million in economic output, more than 2,700 full-time jobs and $150 million in wages. An additional $35 million in taxes is generated annually for governments: $22 million in federal taxes, $9 million to the Province of British Columbia and $4 million in municipal taxes.
"The Port of Prince Rupert has the potential to anchor long-term economic growth and stability in Western Canada," says Prince Rupert Port Authority President & CEO Don Krusel. "This study demonstrates the significant economic benefits of our current operations footprint and confirms the substantial economic impact and return on investment we can realize over the next decade from growing the Prince Rupert Gateway in support of the Asia Pacific Gateway and Corridor Initiative."
The Port has recorded a very strong first quarter in volumes, handling 4,119,708 tonnes in the first quarter 2010, up 72.8% compared to 2,383,510 tonnes in the same period in 2009. The surge in traffic was driven by a 217.9 per cent jump in throughput at Ridley Terminals and an 84.3 per cent increase at the Fairview Container Terminal.The first quarter performance follows the best year at the Port of Prince Rupert in 2009 since 1997.
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Posted by: He spoke on May 11 2010 8:30 AM