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Video & text courtesy of City of Prince George:

In 2017, residents voted to build a new fire hall and pool, 151 condos were announced for downtown in 2018, Prince George was selected to host the 2022 BC Summer Games, and the international airport (YXS) saw a record number of passengers with 499,125. The City of Prince George issued 470 building permits worth $116,813,361, 91 percent of which was investment from the private sector. The building permit numbers for 2017 break down as follows: • Residential $76,437,262 • Commercial $28,780,136 • Industrial $1,227,463 • Institutional $10,368,500 • 132 new single family residences • 14 new commercial developments • 47 new multi-family units • 6 new duplexes • 53 new single family secondary suites In addition, the City saw three new industrial developments, 402 new businesses, and a population increase of 2.8% from 2011. In 2017, the Conference Board of Canada released a report stating that Prince...

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The BC Northern Real Estate Board reported home sales in Northern BC totaled 230 units in January 2018, an increase of 21.1% from January 2017. The average price of homes sold in Northern BC was $264,120 in January 2018, a slight increase of 1.1% from  January 2017. The dollar value of home sales for January 2018 totaled $60.7 million, up 22.4% from the same month in 2017. Active residential listings on the Board MLS System numbered 1,623 units at the end of January, a decline of 10.5% from the end of January 2017. This was the lowest level for active listings in the month of January in ten years....

Full report here: http://campaign.r20.constantcontact.com/render?m=1126248439379&ca=17fab65a-a5b5-4620-bb39-675bca2ac8f4

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Did you know Prince George now has the 3 longest runway in Canada plus over 2000 acres of light industrial land around it plus it now has the status of Foreign Trade Zone!

Prince George Airport's goal is to be a North American cargo gateway and distribution centre to and from Asia with up to 15,000 fuel stop landings per year and to be a passenger hub to North America and the world by 2020. In 2007 with a $11,000,000 loan from Northern Development and funding from both the Government of Canada and the Province of British Columbia, Prince George Airport's runway was expanded from 7,400 feet to 11,500 feet, making it the third longest commercial runway in Canada after airports in Vancouver and Calgary. The airport is now capable of landing, refueling, and loading/unloading the wide bodied Boeing 767 and 747 aircraft that trans-Pacific cargo and logistics carriers operate.

Full read: https://www.northerndevelopment.bc.ca/explore-our-region/success-stories/prince-george-regional-airpor...

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PRINCE GEORGE, BCFeb. 23, 2018/CNW/ - Small- and medium-sized enterprises in Prince George will benefit from new jobs and business opportunities thanks to two announcements made today designating the city as a Foreign Trade Zone (FTZ) point, as well as an investment supporting the clean technology sector.

https://www.newswire.ca/news-releases/prince-george-receives-foreign-trade-zone-designation-and-investment-in-clean-tech-sector-674975363.html

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Ottawa, ON, February 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018.

Highlights:

  • National home sales declined by 14.5% from December 2017 to January 2018.
  • Actual (not seasonally adjusted) activity was down 2.4% year-over-year (y-o-y) in January.
  • The number of newly listed homes plunged 21.6% from December 2017 to January 2018.
  • The MLS® Home Price Index (HPI) in January was up 7.7% y-o-y.
  • The national average sale price advanced by 2.3% y-o-y.

Home sales via Canadian MLS® Systems dropped sharply in January after having climbed to the highest monthly level on record in December. Although activity retreated to the lowest monthly level in three years, January sales were on par with the 10-year monthly average.

Activity in January was down in three-quarters of all local markets in Canada, including virtually all major urban centres. Many of the larger declines in percentage terms were...

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Economic Development eNewsletter

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.

Here is link to full eNewsletter: http://campaign.r20.constantcontact.com/render?m=1126248439379&ca=d9748038-8b61-46a9-b944-b6e3b67e598d

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