Employment Surges By 1000 Jobs Over Two Years
Tuesday, July 30, 2019
A study released today by the Prince Rupert Port Authority 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 analyzed 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.
“The Port of Prince Rupert’s success is built on the hard work of the women and men that contribute to moving cargo efficiently and safely through the gateway every day, building our global reputation for innovation and reliability,” said Shaun Stevenson, President and CEO of the Prince Rupert Port Authority. “Northern BC is our home. We’re proud of the economic benefits we’ve been able to cultivate with all of our partners over the last decade. As we look to the future, we are optimistic that we will collectively continue to deliver a globally competitive trade corridor for BC and Canadian exporters, and reap the economic benefits from it, given the Prince Rupert Gateway’s strategic advantages and demonstrated track record.”
The Port of Prince Rupert is currently Canada’s third largest port by value of trade. PRPA is currently embarking on a number of key gateway infrastructure development projects to further enable the growth and diversification of the port through expansion of container and bulk terminals.
Learn more about the Port of Prince Rupert’s Economic Impact Study.