The Port of Prince Rupert released a study projecting that its fully-realized development plan could generate almost 5,000 new jobs in northern British Columbia directly related to port activity, with corresponding increases in wages and government tax revenues.
Using a model derived from project proposals and land use plans, the forecast quantifies the potential growth of the port’s economic impact through 2025 and beyond. The model makes assumptions for capital investments, average employment levels and wages.
The full buildout of the Port of Prince Rupert’s planned infrastructure and terminals is predicted potentially to generate the following incremental economic impacts:
- an increase of 4,780 full-time equivalent (FTE) jobs directly related to port activity
- $310 million annually in additional wages
- $59 million annually in additional local municipal taxes for the City of Prince Rupert and the District of Port Edward
- $178 million annually in combined taxes to all levels of government
- $400 million annually in additional Gross Domestic Product (GDP) for Canada
In addition to the sustained economic benefits of planned infrastructure and terminals, their construction could provide as many as 26,000 person years of employment, $1.7 billion in wages and over $2 billion in GDP.
The Port of Prince Rupert’s development plan guides its growth into a diversified and sustainable global trade gateway in a manner that minimizes congestion of its operations, limits community conflict with industrial land use, and mitigates marine and environmental impacts.
Source: Prince Rupert Port Authority