IPG Says P.G. Showing Strength in Permits and Population Growth

Wednesday, March 02, 2011 03:44 AM

Prince George, B.C.- Initiatives Prince George has issued a very positive report on the economic status of Prince George. Focusing on population and building permit activity, IPG says Prince George has shown positive movement in both categories.

With population growth averaging 0.9% over the past four years, and there has been considerable capital investment throughout the city in recent years.

According to IPG, over the past 5 years, Prince George’s annual average growth rate for building permits far exceeded average growth across Canada and BC.

Between 2006 and 2010, the city averaged 17.3% growth annually in the value of permits issued compared with 1.1% in BC and 4.2% across Canada.

The average annual growth in Commercial permits was 12.4% compared to 1.2% in BC and 6.1% in Canada while the average annual growth in Residential permits was 15.4% compared to 3.4% and 3.3%, respectively.

IPG says the expectation is that construction activity will remain strong with the added dimension of increased interest in the development of Prince George’s downtown. IPG says interest in the development opportunities in the downtown has grown, partly because of the launch of the City Centre marketing plan.

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Posted on Wednesday, March 02, 2011 03:44 AM in News by 250 News

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Comments

Posted by: acopolympics on March 2 2011 8:25 AM

" Prince George’s annual average growth rate for building permits far exceeded average growth across Canada and BC.
" - I'm surprised, I didn't think gangs bothered with permits when they built thier growops.
More IPG spin to justify thier jobs, which really do nothing for the economy of PG. Increased interest in the development of downtown? By who? Building contractors who are hoping some investor will eventually want to open something down there?

Posted by: Palopu on March 2 2011 9:17 AM

A population growth averaging 0.9% would hardly cover the number of babies being born in a year. This type of growth in fact reflects a negative growth.

Ie; New babies born will not make a tax contribution to the City for a least 20 years., They would of course have some commercial value for local business.

People are still leaving Prince George and re-locating or going to that big apartment in the sky.

So in effect we have no population growth that would make any difference to the City.

Posted by: He spoke on March 2 2011 9:33 AM

As long as there are more babies being born than people dying, than we can justify the 0.9 percent growth.

I think the days of couples having 4 kids are long gone. Most of them will quit at two, and then off to the snip shop.

I wonder, if the population of the city is broken down, how many generational family lives in Prince George. That is what is the core of our community. These are the people that the city needs to cater too. These are the people that have homes and rental units. These are the people that have business in town, which the kids take over. I am one of them.

We love it when people move in, because that is when your rent goes up. We love it when people move out, then you can buy the rentals and properties cheap.

Posted by: Resident on March 2 2011 9:44 AM

Percentages are wonderful numbers. First you start with a low number and then apply the percentage. Looks good.
How about a breakdown using real dollars. Would you rather have 50% of a hundred dollars or 5% of a million dollars.
How much of this growth is tax dollar generated. I don't see any new sawmills or heavy industry except the pellet plant expansion. In fact PG lost Clear Lake sawmills.
IPG are a self promoting group financed by taxpayer dollars. Remember these are the same people who favour the HST which removes a lot of dollars from your wallet.

Posted by: gus on March 2 2011 5:53 PM

Palopu ... "New babies born will not make a tax contribution to the City for a least 20 years"

Way too simple a statement.

One new baby is not the same as another new baby. It depends who it was born to.

A young couple who plan their lives may have been renting to save some money towards buying a residence. The baby, in that case will have some of the following results:

1. A new residential home owner who will pay city property taxes and city utility bills.

2. A reduction in income tax payable to the feds and province.

3. An increase in spending for clothing, food, toys, medical services, babysitteting, etc. in the early years and educational/recreational/entertainment services both public and private in the preschool and school years. The services will help increase or continue demand for local services and the products will increase some local as well as some demand for Chinese product ... LOL

You have to think integrated systems. No matter in what kind of an income setting the child is born into, there is increased demand on goods and services, including services that are property based that provide direct taxes to the city as well as the user fees and sales taxes which will provide indirect income to the city and more direct income to the higher levels of government.

Posted by: Eagleone on March 3 2011 9:48 AM

Well said Resident. Everything is all relative to something.

I think IPG and the PG City plan of high cost bureaucracy has cost this city far more than it ever gained. They all justify spending more tax dollars to justify their tax dollars.

I think PG's competitive advantage should be our natural surroundings, great infrastructure, and a smaller bureaucracy that takes less in taxes relative to anywhere else... the momentum of which would carry us far further as a city than taxing home owners to invent regional business opportunities with public dollars.