Prince George’s economy is holding strong, at least according to some recent stats.
At the Jan. 21 regular city council meeting, mayor and council took a few moments to comment on two recent positive economic indicators – building permit values and population growth.
The total value of building permits reached an all-time high for 2018 with $186.38 million surpassing the previous high mark of $147.88 million set in 2007.
“Two that stand out to me one is a public sector project and that is the rebuilding of Kelly Road Secondary and the other one is what we are seeing next to city hall and that is the Park House Condo development,” says Mayor Lyn Hall.
The new Kelly Road Secondary has a building permit value of $28,322,950 and the parkade for the condo development next to city hall has a value of $12,927,973.
“We have some very interesting and exciting information there,” says Coun. Garth Frizzell before referencing B.C. stats recent population estimate that saw Prince George grow by 739 people in the last year.
“Seeing us grow almost 800 to almost 78,000 people was really refreshing. Not to mention that it speaks to a bustling economy, so this is good times.”
Coun. Cori Ramsay also pointed out an increase in a younger demographic in the community.
“The 20 to 39-year-old age range, from a 2011 to 2016 Stats Canada report, says that demographic grew by a little over 1,100 young people,” says Ramsay.
"They’re choosing to stay in this community and to live here and I think that can be directly contributed to the development so I just wanted to share that.”
Coun. Brian Skakun also pointed to these stats as positive indicators for the local economy.
“This reflects construction jobs and other supply sector jobs in the community and I think that it increases our tax base so its good news as well.”