The number of B.C.-based jobs generated by Port of Prince Rupert has grown by over 70 per cent 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 a 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 Prince Rupert Port Authority.
The study shows that Port of Prince Rupert has created a total of 2,220 full-time equivalent jobs – an increase of 920 jobs in just two years, a 70.8-per-cent increase. Port-related jobs earn close to $130 million in wages for B.C. 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 Port of Prince Rupert generated over $69 million in tax revenues to all levels of government.
“Port of Prince Rupert is realizing its potential as a gateway to Asia,” said Mr. 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 Mr. 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.