As a result, total MLS® unit sales in the region covered by the BC Northern Real Estate Board fell by 30 per cent in the second quarter year-over-year. Despite the pullback in demand, prices increased by two per cent year-over-year due to an 18 per cent year-over-year decline in active listings as potential sellers put off listing their properties. At the end of the second quarter, the MLS® average price was $329,364.
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“With the PTD program, the province pays the property tax on behalf of the senior directly to the local government. The senior homeowner does not need to pay back the money to the province until the property is sold,” said Mackenzie.
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Down 8600 jobs in the Cariboo Economic Development Region in April 2020. Other Services (except Public Administration), Wholesale and Retail Trade, Transportation and Warehousing are the main industries creating new jobs.
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The BC Hemp Corporation says it will be building a $2 billion biofuel plant in the BCR Industrial site in Prince George.
Announced on a Facebook Live stream Thursday night (May 21) hosted by the BC Resources Coalition, the 300-acre site is the same one West Coast Olefins gave up when it decided to relocate to McLeod Lake.
BC Hemp president Remi Balaj made the announcement during the live stream and said they are looking to start construction in six to 12 months.
The bioethanol plant could employ around 2,500 people when fully operable. They would use hemp stock extract to produce medical and industrial-grade ethanol, which is ethanol is an important industrial chemical; used as a solvent, and as an additive to automotive gasoline.
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Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the 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.
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Prince George’s new pool will be an attractive and accessible facility, which will help welcome visitors to the downtown while enhancing the City’s aquatics offerings for residents of all ages and abilities.
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By: Hanna Petersen
Prince George’s The Exploration Place is receiving national attention for its exhibits, this time as part of a TV series called Dino Trails.
The show, now on Amazon Prime Video, focuses on the newest discoveries of dinosaurs and fossils in B.C. and Alberta — and the tourism that results from them.
The northern B.C. episode features both The Exploration Place and the Six Peaks Dinosaur Track Site near Hudson’s Hope.
“We came to Prince George to film the dinosaur tracks that are on display and in the collections of Exploration Place. The dinosaur footprints exhibit is fascinating and easy for all ages to understand and enjoy,” says Brandy Yanchyk, the series creator, in a press release.
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Reports show building permits are already at their highest levels ever and there’s still a long list of projects awaiting approval or scheduled to be built. Two recently published forecasts – one by the city and another by the Conference Board of Canada – indicate that the growth will continue despite a slump in forestry.
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Image by: Eurydemus (as per link to info Click Here)
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It’s no secret that Prince George quickly becomes a second home for those who venture to the city a career, meeting new people and claiming a northern family.
In the case of Nolan Blasko, he left the comforts of Stouffville, Ont. to take an account executive position with the Prince George Cougars this past summer and has since established the organization and fellow colleagues as his new family.
When he was tasked to finding a sponsor for the 2019-20 season’s Family Day game, he said CN Rail made the most sense as the company’s name is stamped to the arena.
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Press on link for full report - https://myemail.constantcontact.com/The-latest-economic-data-highlights-for-Prince-George-.html?soid=1126248439379&aid=rXQxZFqxvAM
PrinceGeorgeMatters
Norm Coyne hopes to lay down that stronger foundation for young aspiring filmmakers in Prince George and across northern B.C. as he and his UNLTD Media and Events team have unveiled the Great Northern International Film Festival (GNIFF).
The four-day event set for September next year will showcase local, regional and international artists’ work with over 100 films expected to play on the silver-screen in an Oscars-style setting.
Coyne is confident this festival, which has been in the works for the past two years, has the potential to bring unseen movie-making skills in Prince George into the spotlight and encourage youth to network with industry professionals.
“For me, I’m like, I just want to make sure I’m doing whatever I can and accessing the youth is a great way to do that,” said Coyne when PrinceGeorgeMatters asked the question.
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Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the 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.
#PrinceGeorgeLife
One year ago, the partners behind LNG Canada formally sanctioned the $40-billion project.
Today, roughly 1,000 workers are on site in Kitimat — about half of them from the Kitimat-Terrace area — and that’s just to set the stage for the main construction phase, which isn’t expected to start for another couple of years.
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Prince George has been ranked one of the top two cities in the west to place Canadian property investments over the next year by Western Investor magazine.
While Kelowna topped the list, B.C.’s northern capital earned second place out of five on the Western Investor’s list of 2020 best western Canadian investment towns.
Western Investor stated Prince George is forecast to see GDP growth of 1.5 per cent this year and 1.7 per cent in 2020, according to the Conference Board of Canada, which featured the city as among selected mid-size cities for best economic growth this year.
“Thanks to a healthy real estate market, finance, insurance, and real estate will be Prince George’s fastest-growing industry over this year and next, the board contends. This sector is forecast to expand by 2.6 per cent this year and 2.7 per cent in 2020,” writes Frank O’Brien in Western Investor.
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The Conference Board of Canada findings:
Key findings • After growing by a modest 1.3 per cent in 2018, Prince George’s economy is expected to pick up the pace and expand by 1.5 per cent this year and 1.7 per cent in 2020. • Job growth will slow from 1.2 per cent last year to 0.5 per cent in 2019 before edging up to 0.9 per cent next year. • The region’s unemployment rate is anticipated to edge down from an average of 5.2 per cent last year to 4.9 per cent this year and 5.1 per cent in 2020.
Here is link to full report - Note Prince George specific info starts on page 70
FACTION PROJECTS — A six-storey student only apartment building in downtown Prince George will consist of about 200 self-contained micro-units which are less than 29 square metres, or 312 square feet. The project is considered a key ingredient to the revitalization of the city’s downtown core.
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The new school, in the Hart Highway area of Prince George, is on target for a September 2020 opening.
The cost of the project is being shared by the provincial government at $43.3 million and School District No. 57 (SD57) at $1 million.
“I’m excited about it,” said Rod Allen, Superintendent of Schools for SD57 in a news release. “It’s great that we have a new building with learning facilities that will enable the new curriculum to be more fully implemented – features like flexible learning spaces and more open learning spaces.”
The new school will accommodate 900 students and will replace the current Kelly Road, which was built in the early 1960s, and will also sit behind the original, which will be demolished once it is no longer in use.
Click Here for full article from Prince George Matters.com
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| Economic Updates |
| Every month, the Economic Development Division tracks economic indicators to better understand the business climate in Prince George. Data included in the 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. |
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Office Location: Personal Real Estate Corp 1625 4th Avenue Prince George, BC
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