The Port of Prince Rupert Gateway Council has recently released their 2021 Economic Impact Assessment, and the study revealed the positive impacts that the Port of Prince Rupert brought to the economy of Canada, specifically British Columbia, during the COVID-19 pandemic.
Council members include: Prince Rupert Port Authority, CN, Ridley Terminals Inc., Prince Rupert Grain, DP World Canada, Pinnacle Renewable Energy, AltaGas Ltd., Pembina Pipeline, Ray-Mont Logistics, Quickload Logistics, Coast 2000 Terminals, Gat Leedm Logistics, Vopak Canada and the International Longshore & Warehouse Union.
Over the last decade, with the contributions of Council partners, the Port of Prince Rupert has seen a growth of over 100% and handled a record 32.4 million tonnes of cargo in 2020, which was valued at $60 billion.
The assessment was based on surveys given to transportation businesses through Northern British Columbia, including rail, trucking, logistics, port terminals, marine services, and government agencies. The study showed that the increase in cargo volumes provided much-needed economic and employment stability in the pandemic.
While tourism-related businesses such as cruises and ferries suffered, businesses for freight cargo such as coal, wood pellets, and propane soared. Total economic output from the port industry increased 7% to $1.4 billion, and total job growth increased by 9% to 7,800 jobs in comparison to 2018.
Due to the Port of Prince Rupert, the province of British Columbia was economically sustained during the pandemic, and the port’s activity also supported more than $147 million in tax revenue for all levels of government, including stipends, personal tax, corporate tax, and property tax revenues.
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