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| Looking back at 2017 and ahead to 2018 |
Continuing the momentum from a record setting year in 2016, Prince George experienced strong growth and investment in 2017. The City of Prince George Economic Development Division tracks economic data available at the national, provincial, and municipal level. Analyzed monthly and yearly, economic indicators including building permits, real estate and housing construction, number of persons employed, business licenses, and passenger traffic at the Prince George Airport (YXS) provide insights into the local economy and help us monitor changes and growth.
2017 highlights:
- Total value of building permits was $116.8 million, resulting in nearly a quarter of a billion dollars in building permits over the last two years
- 91% or $106.3 million of residential and non-residential building permits were derived from private sector investment
- 210 new houses with an average price of $461,411 were sold in 2017, which represents a 23% increase in house sales over 2016
- Housing construction continued to thrive with work beginning on 152 single family dwellings, 74 multiple family units, and 221 completions
- Prince George's annual employment has increased by 1,400 persons since 2016 creating an employment rate of 67.0% which was 5% higher than BC (62.0%); the unemployment rate decreased to 6.2% compared to 6.5% in 2016
- 2,054 business licenses were issued in 2017; this is an increase of 26% over 2016 when 1,624 business licenses were issued
- Passenger travel through the Prince George Airport (YXS) reached close to 500,000, an 8.0% increase from 2016
Looking forward to 2018, Prince George's strategic position in the region, skilled workforce, robust business community, and future investments will continue to drive steady growth. The Conference Board of Canada projects growth in total gross domestic product (GDP) to be 1.7% (0.2% higher than 2017) lead by growth in the goods sector and services sector. This positive outlook and business climate is supported by new projects on the horizon including: a new Four Season's Pool, new Fire Hall #1, 151 unit downtown condo development, Pomeroy Hotel, Browns Socialhouse, and a biomass enhancement system at Pacific Bioenergy.
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Investment inquiries received in 2017
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| In 2017, the City of Prince George Economic Development Division managed investment inquiries from all over the world and from a variety of industries. Inquiries are categorized into two groups: Prospect (businesses likely to invest) and General (businesses looking only for general information). The graphics below provide details on the Economic Development Division's interaction with investors during 2017. |
| Clean tech opportunity for Prince George businesses |
The Economic Development Division aims to identify and expand opportunities for clean tech businesses and those with clean tech competencies.
Through business and export coaching, workshops and roundtables, economic development staff will work with businesses to grow and support their clean tech opportunities.
Connect with Project Coordinator Davee Palmantier at
[email protected] to see if your company is a fit for the City of Prince George Clean Tech Cluster.
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Promote your clean tech business at Globe Forum 2018
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The City of Prince George's Economic Development Division is hosting an open booth at this year's
GLOBE Forum in Vancouver.
The Prevailing Theme for GLOBE Forum 2018 is 'Disrupting Business As Usual' From March 14-16, 2018. 2,000 business and government leaders from over 50 countries will come together to network and advance global business and sustainability agendas.
We are inviting all clean tech companies from the Prince George area to share our exhibitor space at the conference. You can use our booth to promote your clean tech business through marketing materials and to set-up meetings with potential clients and partners.
For more information please connect with our economic development staff at
[email protected] or 250.561.7630
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Clean tech business profile: Lumisave
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Since 2009,
Lumisave has been providing LED lighting solutions to both industrial and commercial projects across North America. With design, testing, and manufacturing of products taking place locally in Prince George, Lumisave strives to offer the highest quality products and services while contributing to the local economy.
Reasons companies switch to LED lighting:
- Low maintenance
- Reduced operating costs
- Recycling and service programs
LED lights last up to 100,000 hours, reducing the impact of manufacturing and the need for raw materials. LED lighting is more efficient than conventional lighting, allowing these fixtures to produce a brighter light at lower wattages, translating to safer workplaces with less energy consumption. When compared to conventional lighting, LED technology offers up to a 70% energy savings. LEDs contain no toxic mercury, lead, or PCBs which pose significant health and safety risks for the environment and public.
Lumisave offers a service program that allows clients to send back any damaged or failed products and will recycle packaging and electronic components.
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Check out these new businesses
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Montana's BBQ & Bar - Bringing an established franchise to Prince George
Did you know that the
Montana's BBQ & Bar
in Prince George is locally owned and operated? Chellie Goncalves Duque, who was born and raised in Prince George, and her father Joe Goncalves, resident for over 50 years, believe in the future of this community so much that they bought into the franchise. They proudly opened their doors on November 20, 2017 at 2730 Recplace Dr. They have worked very hard to get this new venture off the ground, so let's give a warm welcome to this new restaurant that has generated between 90-100 new jobs. Montana's is "Firing up the Good Times" and joins our amazing business community. #newbizpg
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Zandra Ross Lifestyle Studio & Services - An inspired approach to healthy living
Zandra had a vision for her new business; she wanted to provide an energy-filled supportive environment that nurtures the individual. So far, she works with all ages up to 85 years old. Whether it's personal development, leadership development, team building, or fitness, Zandra's goal is to help people live the life that inspires them. If you're interested in the programs and services she offers,
check out her Facebook page
,
download her app to book a class
,
or visit her website
. You can also stop by her new fitness studio at 575 Brunswick St. and 6th Ave in the former Community Policing building. #newbizpg
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Hiring from outside of Prince George? We can help!
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If you're an employer who needs to recruit people from outside of Prince George for hard-to-fill positions, we can assist you in achieving your attraction and retention goals.
Employee attraction:
- Register for an employer account on the Move Up Prince George website and post a job for free to the website's 'Career Search' page to reach potential candidates across Canada.
- Download a digital web button and add it to your online career search page. Link this button back to the Move Up Prince George website so potential employees can learn about living in Prince George.
- Ask us about the promotional items we provide for recruitment packages and new employees that showcase the lifestyle in Prince George.
Employee retention:
- We're available to answer potential candidate's questions about living in Prince George and to provide personalized tours for potential and new employees.
New employee tour testimonial:
"When my wife Kristen and I planned to move to Prince George after I was offered a job with an engineering firm, we were at a loss as to where to live and where to find the most basic services, etc. Kristen came across the Move Up Prince George website and was very impressed with the information that she found on the site.
Kristen was also able to contact the Move Up To Prince George team via the website and received lots of information about Prince George even prior to our first visit.
I believe that this is a service that all companies can offer prospective new hires. The one-on-one tour that the Workforce Development Officer provided was amazing. Christina toured us all around this beautiful city, showed us the many activities, shopping, restaurants and facilities that Prince George has to offer. Kristen and I both believe that without a service like this it would have made our Move to Prince George that much harder." - Karl Dean
For more information about these tools and other attraction and retention services offered by the Economic Development Division, contact Christina Doll, Workforce Development Officer at
[email protected]
or 250-561-7633.
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The information you need to make an investment decision
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Are you interested in opening a business or undertaking a development in Prince George? We can provide you with all of the information you need to help you make your investment decision.
We recently updated the following documents:
If you need additional information or would like a familiarization tour of the city, contact us at
[email protected].
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Investment opportunity: Data centres
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Prince George has been identified as an ideal location for data centres due to the following factors:
- Fibre redundancy
- Cool climate
- Stable environment
- Access to hundreds of acres of vacant serviced industrial and commercial land
Other benefits include competitive corporate tax rates, low real estate costs, competitive and stable property taxes, and incentives.
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Video: Light industrial lands
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Prince George offers 9 industrial areas for a combined 5,500 acres of developed and undeveloped land throughout the city. Roughly 400 of these acres are vacant, serviced land ready for development.
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Civic and Conference Centre has significant economic impact
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Prince George Conference and Civic Centre staff, with the expertise of Sentis Research, conducted an economic impact study of the facility on Prince George from June 2016 to June 2017. This research involved 507 in-person surveys which were conducted with non-local delegates and exhibitors attending events at the Conference and Civic Centre.
During the period covered by the survey, the Prince George Conference and Civic Centre hosted 101 events that drew in non-local attendance. These events brought in 8,246 non-local delegates and an additional 739 exhibitors, resulting in 18,416 total estimated hotel room nights; this amounts to nearly $2.7 million of paid accommodations at local hotels.
The total average delegate spending was $673 per person and the total average exhibitor spending was $1,586 per exhibitor. This spending resulted in over $6.9 million of total direct spending by non-locals which included over $5.55 million total delegate spending, $668,780 total exhibitor spending and $697,758 in event production spending.
The Prince George Conference and Civic Centre is a key economic driver for Prince George and had a substantial impact on the local economy during the period examined for the study. It contributed $4.7 million to GDP and supported 84 jobs including 63 direct jobs and 11 indirect or induced. These jobs accounted to $3.3 million in household income.
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The next Top 40 Under 40 to be unveiled in February
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Make sure to watch the Move Up Prince George blog page starting on February 21, 2018 for daily profiles of candidates. The write-ups on young professionals profiled in the publication will also be shared via the Move Up Prince George Facebook page and Twitter feed, so make sure to like and follow us!
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We're available to answer all of your investment related questions, to assist you with acting on business growth opportunities and overcoming challenges, and to provide workforce attraction and retention tools and services. If you have any questions related to these areas, please contact us.
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#InvestCityofPG
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#cityofpg
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