The Port of Prince Rupert Makes Northern BC Work
The Prince Rupert Port Authority’s 2018 Economic Impact Study revealed that employment associated with moving trade through northern BC to the Port of Prince Rupert has grown from 5200 jobs to 6200 jobs since 2016. The economic impact study analysed a wide variety of factors based on the 26.7 million tonnes shipped through the Port in 2018 and determined significant economic and employment benefits continue to grow throughout the northern BC region.
In total, the international trade cargo handled in 2018 at the Port of Prince Rupert was valued at approximately $50 billion and the business of transporting that trade through the gateway created $1.5 billion of economic activity in the region. The businesses and organizations involved in marine, terminal, rail, truck logistics and other activities required to safely move goods through the region employed 3600 full time equivalent jobs, and the contracted services and supplies required by those businesses (i.e. indirect employment), generated another 2600 jobs. Although many of the total 6200 jobs are located in the Prince Rupert area, thousands of women and men find employment as residents of communities throughout northern BC.
Annual wages associated with that employment totalled $481 million and the average annual wage rose to $87,200 in 2018.
In addition to employment benefits, Port activity also created over $125 million in annual tax revenues for all levels of government through stipends, personal tax, corporate tax and property tax revenues. The Canadian and BC governments were the largest recipients, but property taxes generated from PRPA lands increased to $9.3 million in revenues for local government as well.
Compared to the most recent economic impact study delivered in 2016, economic indicators across the board show a significant upward trend, reflecting the 40% increase in port volumes during that time. Value of trade, economic output, employment, wages and tax revenues for government all increased significantly.