PG Economy a Bright Spot in the North
Building permits have hit a record pace in Prince George, the population has expanded by more than 5,000 since 2011, the unemployment rate is falling and house prices are rising in a mid-size city ranked among the strongest economically in Canada.
Although surrounding regions like the Caribou, Nechako and the north coast are in a slump due to forestry woes and delays in the LNG projects, Prince George’s economic climate is robust and storming ahead. Prince George reached an all time high in private sector construction permits in 2016 and the fancy new 35 million Marriot Hotel under construction is just part of the action plan for this city of 74,000 in the coming months.
Prince George saw an increase in new business establishment, in housing permits and in private sector investment in 2016 due partly to a 2.8% increase in population since 2011. The Conference Board of Canada has predicted Prince George will generate the strongest economic growth among seven mid-sized Canadian cities this year.