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Prince George's evolving economy is driven by an entrepreneurial industrial sector, rich natural resource base and the strategic advantage provided by its key geographic locations and skilled workforce.
The city is a supply and service centre for mining and forestry activities in the region. Transportation, tourism and recreation, healthcare, education and retail activities are also major components of Prince George's economic make-up.
Advanced Manufacturing
Manufacturing is one of the largest economic sectors in Prince George. With the main manufacturing activities in the city traditionally related to the forest industry, wood products and paper manufacturing account for the majority of employment and a significant number of the companies in the manufacturing sector. With an established value-added wood industry, the city is home to numerous finger-jointing, re-manufacturing and secondary wood products mills.
Fabricated Metal Product, Machinery, and Transportation Equipment manufacturing firms make up nearly one-third of the manufacturers in Prince George. Chemical manufacturing and oil processing activities are also well-established in the city.
The presence of significant advanced manufacturing sectors in Prince George has created many new opportunities in other areas of manufacturing. Prince George's strategic location along key transportation corridors facilitates the export of manufactured products to key markets that are within easy reach in every direction, creating opportunities for growth for small and medium-sized enterprises.
Northern Development Initiative Trust has partnered with the Business Development Bank of Canada to offer the Business Competitiveness Program for Manufacturers which provides reimbursement of 50% of eligible consulting fees to manufacturing businesses in any area including market development and export, operations, ISO certification, and human resource management. This is a value unique to northern BC manufacturers.
Mining & Mineral Exploration
British Columbia's mineral exploration and mining industry is an integral part of the provincial economy, and this industry has potential for major growth in Northern BC. There are currently nine operating mines in Northern BC, four of which are in the North-Central Region in which Prince George is situated.
Five mines are now under development in Northern BC and with 17 proposals for new mines and quarries submitted to government for review and approval with good reason to anticipate more developments in the region over the next five years. There are also a number of advanced exploration projects completing feasibility studies and considering proposals for mine development.
Exploration expenditures in Northern BC accounted for 66% of total provincial exploration expenditures in 2007, with $275.1 million spent. $94.6 million was spent in the North-Central region in 2007 on more than sixty exploration projects.
Oil and Gas investment in BC reached $4.6 billion in 2006. While the Northeast Region of BC is currently the only area of the province producing commercial quantities of oil and gas, other parts of the province contain significant quantities of sedimentary rock that may be productive in the future. The Bowser and Nechako Basins, to the Northwest and Southwest of Prince George, contain areas of high oil and gas prospectivity.
Estimates of marketable conventional natural resources that remain to be discovered in the Northeast vary from between 26 to 44 trillion cubic feet, and it is estimated that up to 145 million barrels of recoverable oil remain undiscovered in the region.
Prince George is a major service and supply centre for natural resource activities in Northern and Central BC, and there is significant capacity available to provide for the requirements of the growing mining and oil & gas industries in the region.
Transportation & Logistics
Prince George is strategically located along key transportation corridors, providing businesses in the city with easy access to major markets in North America, Asia and other areas of the globe. Opportunities related to transportation and logistics activities have been enhanced by significant investment in transportation infrastructure in the city and in the region.
Recent infrastructure improvements include upgrades to several areas of highways in Northern BC, the expansion of the main runway at the Prince George International Airport, the establishment of CN intermodal facilities in Prince George, and the construction and expansion of the Fairview Container terminal at the Port of Prince Rupert. These investments offer a high level of speed, efficiency and dependability in transportation that will serve as a catalyst for the development of new export and distribution markets, providing exporters and importers a competitive edge in the global marketplace.
A new Logistics Park is currently being planned for a 688 hectare (1,700 acre) plot of land adjacent to the Prince George Airport - the proposed design is shown above right. The development of this land will provide for a mix of business and light industrial uses and will build on the economic opportunities provided by the runway expansion at the airport. Principal and secondary uses for this development include, but are not limited to, transportation depots, truck terminals, warehousing & storage, manufacturing and wholesale activities, as well as specific retail or other supply activities.
Click the icons at right to download the Logistics Park Prospectus document in either English (4.7MB PDF file) or in Simplified Chinese (6.1MB PDF file).
For more information, refer to the City of Prince George's zoning bylaw for Light Industrial (M1) zoning.
Forest Products
Canada’s lumber, pulp and paper industries are centered in Prince George. The largest companies in solid wood include Canfor, Carrier Lumber, Conifex, Sinclar Mills, Winton Global, and West Fraser. In pulp and paper, Canfor Pulp Limited Partnership is the largest mill in Prince George and is also invested in co-generation for energy production.
For more information on forestry products in Northern British Columbia visit the following links:
Canfor and Canfor Pulp Limited Partnership: www.canfor.com and www.canforpulp.com
Carrier Lumber: www.carrierlumber.bc.ca
Conifex: www.conifex.com
Sinclar Mills: www.sinclar.com
Winton Global: www.wintonglobal.com
West Fraser: www.westfraser.com
Bioenergy
With two-thirds of Canada’s fibre resources and now abundant ‘pine beetle wood’ the amount of fibre in Northern British Columbia is increasing and driving expansion of the forest industry into energy production. Canada’s pellet manufacturing industry is focused in the Prince George region; the largest companies include Pacific Bioenergy, Premium Pellet and Pinnacle Pellet. In addition to co-generation, other bioenergy products in various levels of pilot and commercial production in Prince George include Alterna Biocarbon, Northwind Ethanol. District and institutional energy systems are also in development with University of Northern BC, City of Prince George, and Baldy Hughes Treatment Centre.
To find out more about bioenergy and pellet manufacturing visit the following links:
Northern Bioenergy Partnership: www.bioenergypartnership.ca
Pacific Bioenergy: www.pacificbioenergy.ca
Pinnacle Pellet: www.pinnaclepellet.com
Premium Pellet: www.premiumpellet.com
City Centre Development
The downtown area of Prince George is a targeted area for redevelopment. Increased density in the downtown, both in commercial, institutional and residential uses is supported to achieve the vision of a strong, vibrant downtown that is the centre of business activity, the focus for cultural and recreational activities, a preferred housing option for a diverse residential community and a quality destination for visitors to the city. The City's commitment to this vision has created numerous and diverse development and investment opportunities in Prince George's downtown core.
To find out more about development in downtown Prince George, download the City Centre Prospectus at the following link:
PG City Centre: www.pgcitycentre.ca
Initiatives Prince George is a member of the Downtown Partnership, working closely with the City of Prince George and other organizations to create a renewed downtown that embodies the collective vision of the community. Information about the Downtown Partnership and revitalization projects in the Downtown can be found here:
Downtown Partnership: http://www.princegeorge.ca/cityhall/committees/downtownpartnership/Pages/Default.aspx
Corporate Service-based Business
Prince George has outstanding positioning to attract and retain corporate service-based businesses, particularly customer care centers.
Prince George is becoming increasingly well-known as a preferred place to locate corporate service-based businesses. From the perspective of both business overhead costs and cost of living for employees, the city has a significant advantage over many major cities in Western Canada.
KPMG's Competitive Alternatives 2010 found Prince George much more competitive from a cost perspective than other major Western Canadian cities. The city's overall cost index for Corporate & IT Services, based on twenty-six location-sensitive cost factors, was 3.5, 2.2 and 4.0 points lower than Vancouver, Victoria and Edmonton, respectively.
Tourism
Prince George is the only city in Northern British Columbia with all the major stores and outfitting services you'll need. Whether you're visiting for a week, a weekend or just passing through, Tourism Prince George can help you make the most of your northern getaway. Tourism is thriving in Prince George and offers a diverse range of opportunities from visitors worldwide looking for first class hotels and shopping to great fishing, hiking, camping and festivals.
To find out more about Tourism in Prince George and around Northern BC visit the following links:
Tourism Prince George: www.tourismpg.com
Northern BC Tourism: www.hellobc.com/en-CA/RegionsCities/NorthernBritishColumbia.htm
Healthcare
Northern Health provides health services to 300,000 people over an area of 600,000 square kilometers that makes up Northern British Columbia. Northern Health is responsible for the delivery of health care including acute care, mental health, public health, addictions, home and community care services. The only cancer care facility in Northern BC is proposed to open in Prince George in the fall of 2012.
Details outlining all services, governance and key components of Northern BC’s Healthcare provider can be found through the following link:
Northern Health Authority: www.northernhealth.ca
Education
As a learning centre of excellence in BC, Prince George offers a variety of life-long learning options ranging from children’s public and private schools to trades and technical training institutes to world-class medical training programs and facilities. With a large multi-ethnic population, English language training is also widely available along with upgrading, career preparation and continuing education programs.
To find out more about the exceptional educational options Prince George has to offer visit the following links:
School District No. 57: www.sd57.bc.ca
The College of New Caledonia: www.cnc.bc.ca
The University of Northern British Columbia: www.unbc.ca
Immigrant and Multicultural Services Society (ESL): www.imss.ca
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