New State of the North report
And a 6.55 per cent tax increase proposal. Plus, don't drive drunk and then fight the police
Northern Development Initiative Trust has released an update to its State of the North economic report. It’s always an interesting overview of how things are going across the region based on a variety of factors including employment, construction and housing prices.
High level:
In Northern BC, declines in construction activity, coupled with mill closures is expected to be a drag on the economy for the remaineder of 2024. Some relief may be provided as LNG and Site begin operations and other projects continue development. In the Northwest region and Prince George, residential construction activity is increasing which will provide a short-term boost….
In the near term uncertainty around the incomcing US adminstration and its approach to trade policy is likely to slow investment decisions and could further impact the forest sector.
Here’s some interesting bits, too.
In the first months of 2024, employment levels in Northern BC increased by approximately 4.6 percent year-over year…
The 2024 gains were largely due to significant increase in employment in publicly funded sectors like education and healthcare, in the Cariboo region [including Prince George] in particular.
This goes back to that recurring theme I have, which is that this is a service-based city. Not to diminish the importance of resources, they are clearly a driver of value, but the reality is that as important as those sectors are to the economy, it’s not where most people here work. For example:
Anyways, much more here.
News roundup:
City of Prince George draft budget proposes 6.55% tax increase.
Impaired driver spends a night in jail following fight with Mountie.
UNBC, Lheldli T'enneh and City of Prince George pursuing life sciences project.
City Council providing a small funding boost to Northern Angel Investors Summit.
Regional Business Liaison report reveals common challenges in communities.
City of Prince George releases its latest Winter Recreation Guide.
Drug dealer’s SUV, cash called 'proceeds of crime' in court.
Northern Capital News is a free, daily newsletter about life in Prince George. Please consider subscribing or, if you have, sharing with someone else.
Send feedback by emailing northerncapitalnews@gmail.com. Find me online at akurjata.ca.