ECONOMIC UPDATE
February 2022
VIEW TRENDING ECONOMIC DATA FOR FEBRUARY 2022
Every month, the City of Prince George Economic Development Division tracks economic indicators to better understand the business climate in Prince George. Data in this monthly analysis covers several areas, including employment rates and numbers, real estate developments and transactions, building permit values, business license applications, and airport passenger statistics.

Information is gathered from a variety of sources, including Statistics Canada, the BC Northern Real Estate Board, the Canada Housing and Mortgage Corporation, the City of Prince George, and the Prince George Airport Authority.
FEBRUARY 2022 ECONOMIC INDICATORS
89,700 Employed in the Cariboo Economic Development Region in February 2022. Construction and Wholesale and Retail Trade are the main industries creating new jobs.
BUILDING PERMITS INCREASE
  • The total value of building permits issued in Prince George through the month of February 2022 reached $31.5M. This was a $25.1M increase compared to February 2021.

  • There were a total of 21 new building permits issued in February 2022 compared to 26 in the previous year.

  • For the second month of 2022, the total building permit value is $36.3M, which is $18.4M more than the same period in 2021.
BUSINESS LICENCE NUMBERS
  • There were 18 new business license applications in February 2022.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 6,834 passengers in February 2021, there was a 200.83% increase with 20,559 passengers arriving and departing in February 2022. This is a result of easing COVID-19 restrictions.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 82 homes sold in February 2022. This represents a decrease from a year prior, with 127 homes sold in February 2021.

  • The average house sale price was $475,627 in February 2022. This is an increase compared to last February when there was an average house sale price of $421,891.

  • There was 16 Single Family completions in February 2022, there was an increase compared to last February when there was 8 Single Family completions.

View additional housing statistics, including average rent, housing structure types, and more, through the Townfolio dashboard.
City of Prince George, 1100 Patricia Boulevard, Prince George, BC V2L 3V9
Email: ecdev@princegeorge.ca | Telephone: 250-561-7633 | Fax: 250-561-7724
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