Employment and Exports Surge at Port of Prince Rupert
THURSDAY, APRIL 12, 2012 | VIEW AS PDF
PRINCE RUPERT, BRITISH COLUMBIA -- The number of BC-based jobs generated by the Port of Prince Rupert has grown by over 70% in the past two years while the value of export trade through the Port has nearly doubled to $4.9 billion since 2009.
These are among the findings of The Port of Prince Rupert: Economic Impact Study, prepared by InterVISTAS Consulting Inc., which updates similar research prepared in 2009. The report and an accompanying value of trade analysis measure the Port's employment and other economic impacts in British Columbia.
"This dramatic surge in job growth shows the more we export and grow our trade with Asia, the more we can grow our economy and opportunities for British Columbians," said Don Krusel, President and CEO of the Prince Rupert Port Authority.
The study shows that the Port of Prince Rupert has created a total of 2,220 full-time equivalent jobs, an increase of 920 jobs in just two years. Port-related jobs earn close to $130 million in wages for BC workers, contribute over $290 million to British Columbia's Gross Domestic Product, and generate approximately $550 million in economic output for the province.
In 2010, ongoing economic activity at the Port of Prince Rupert generated over $69 million in tax revenues to all levels of government.
"The Port of Prince Rupert is realizing its potential as a gateway to Asia," said Krusel. "This role generates economic opportunities right here at home. By transporting Canadian products safely and efficiently through Prince Rupert, the Port and its supply chain partners have created close to a thousand additional person years of employment over 2009."
On average, a single ship leaving Prince Rupert's harbour is carrying $12 million of Canadian goods.
"We are proud of the Port's role in ensuring the environmentally responsible and safe movement of goods through Prince Rupert to and from Asia," said Krusel. "We're equally proud that our work contributes to a sustainable economic environment both locally and throughout the province."
The full economic impact study is available for download at www.rupertport.com/documents/economic-impact-study-2012.
The full value of trade analysis is available for download at www.rupertport.com/documents/value-of-trade-2012.
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FOR MORE INFORMATION PLEASE CONTACT:
Manager, Corporate Communications
Prince Rupert Port Authority
Cell: 250 600-4447
Office: 250 627-2509
THE PORT OF PRINCE RUPERT
Canada's second largest West Coast port, is strategically situated on the direct Great Circle Route from Asia, up to three days sailing time closer to Asia than other North American West Coast ports.
The Port of Prince Rupert has the deepest natural harbour in North America and the safest Canadian West Coast harbour with significant capacity to expand. Prince Rupert is connected to the fastest and most efficient rail network in North America, which also has significant capacity available to accommodate Prince Rupert's growth.
Port of Prince Rupert facilities include modern, high-throughput coal and grain terminals, an innovative intermodal container terminal and two cruise terminals. Prince Rupert's Fairview Container Terminal is the first dedicated intermodal container terminal in North America with the design capacity to move 700,000 TEUs annually. The terminal is serviced by CN Rail's North American network and is operated by Maher Terminals of Canada Inc.
2012 ECONOMIC IMPACT STUDY AND VALUE OF TRADE ANALYSIS
The Port of Prince Rupert's 2012 Economic Impact Study considers economic data from sources in British Columbia. Results are based on a combination of survey data, inference and multipliers.
Employment is categorized as direct, indirect, and induced.
- Examples of DIRECT EMPLOYMENT include port terminals, tugs, pilots, rail, trucking, etc.
- INDIRECT EMPLOYMENT refers to supplier industries dependent on sales to terminals.
- INDUCED EMPLOYMENT is economic activity from employee consumer spending.
- Total Economic Impact. Direct employment related to the Port of Prince Rupert was found to be equivalent to 2,220 Person Years. The total impact of Direct, Induced, and Induced employment is 4,550 Person Years.
- Growth of Economic Impact Since 2009. In 2009, the Port of Prince Rupert was responsible for 1,300 Person Years of direct employment. In 2011 that number had risen to 2,220 Person Years -- a 70.8% increase.
- Employment by Industry. Rail (650 Person Years), Trucking (430 Person Years), Stevedoring (340 Person Years) and Terminal Operations (290 Person Years) are the port-related industries responsible for the majority of direct employment.
- Annual Tax Contributions. Annual tax contributions related to port activity come from three sources: Cruise Passengers and Crew, Port Employers or Employees, and the Prince Rupert Port Authority. In 2010, these sources contributed a total of $69.5 million to federal, provincial, and municipal governments.
- Value of Export Trade. Export trade conducted through the Port of Prince Rupert in 2011 is valued at $4.9 billion dollars (2011 dollars), including both containerized and bulk cargo. This is a 48.9% increase in value from 2009.
- For more details, please see the full Economic Impact Study and Value of Trade Analysis online: