PG’s Economy Taking Off

Prince George, BC, Canada / CKPG News
PG's Economy Taking Off

The Conference Board of Canada has come out with some good news for Prince George.
According to the Conference Board’s 2016 survey on Mid-Sized Canadian cities, Prince George is projecting the strongest growth.
Highlights include:
* Prince George’s real GDP should grow by a healthy 2.4% in 2016, highest among the
seven cities that are part of the report and greater than the GDP forecast for Canada of
1.7%.
*Multiple-family housing starts are set to hit a 20-year high in 2016, boosted by the start of
construction on the 173-unit RiverBend Seniors Community complex in April.
*Employment in the city is forecast to grow by 4.5 per cent this year, following an 8.2 per
cent decline in 2015.
*Personal income per capita is forecast to top $50,000 per year for the first time in Prince
George, higher than the BC average.
*Retail sales are poised to grow by 4.6% this year, again greater than the forecasted average
for all of BC.
*Prince George’s finance, insurance, and real estate industry is poised to expand by 5.6 per
cent in 2016, making the sector this year’s growth leader.

For Mayor Lyn Hall, this report merely reinforces what many in the community have been sensing for awhile.
“Just look at the previous few months: more than $60 Million in private sector dollars are being invested in the downtown area alone, between the RiverBend Seniors Community and the Courtyard by Marriott hotel announced last week.”
The other communities compared in the survey include: Timmins and Sault Ste. Marie in Ontario, Brandon, Manitoba, Lethbridge, Red Deer and Medicine Hat in Alberta.

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