Study Released on Port of Prince Rupert’s Development Plan
The Port of Prince Rupert has just released a study projecting that its fully-realized development plan could generate almost 5,000 new jobs in northern British Columbia.
Using a model derived from project proposals and land use plans, the forecast quantifies the potential growth of the port’s economic impact through 2025 and beyond. The model makes assumptions for capital investments, average employment levels and wages.
“The vision of Prince Rupert as a leading North American trade gateway builds on our strengths and our track record,” said Don Krusel, President & CEO of the Port of Prince Rupert. “The question is, can we achieve it? We believe we can, but it’s going to take a vision that aligns the priorities, efforts and investments of local communities and First Nations with the economic opportunities that are presented.”
The port’s Economic Impact of Capital Expansion Plans forecasts potential economic benefits from current and proposed projects which are part of the port’s development plan.
As laid out in the port’s 2010 Land Use Plan, those projects could include expansion of facilities for intermodal, bulk and breakbulk cargoes, exceeding $20 billion in total capital costs.
The study’s forecast is based on the following collection of projects:
- Container terminal expansion;
- Export logistics park construction;
- Import logistics park construction;
- Coal terminal expansion;
- Two LNG terminal constructions;
- Dry and/or liquid bulk terminal construction;
- Breakbulk terminal construction;
- Minibulk/breakbulk/project cargo terminal construction.
Some of these projects are currently under construction, development or investigation. Others are speculative, with parameters informed by the port’s long-term vision and proponents’ plans.