The Major Projects Inventory conducted in December and released on March 24, 2011 shows increased planning and investments in B.C. It reported 957 major construction projects, with a value of $198.7 billion, already under way or successfully undergoing the initial stages of construction.
The $50 million PGP Bio Energy Project under construction in Prince George and the $75 million Wildmare Wind Energy Project in Chetwynd are just two of 51 clean-technology projects, with a value climbing up to $17.2 billion. Roughly 101 projects are either certified or are targeting certification under LEED, Green Globes, or one of the other green building rating systems.
Over 16 per cent of the 30 projects issued or under way in B.C. were certified under LEED in the last quarter. These projects’ total value is nearly $1.5 billion. The largest, the Vancouver City Central Transmission Project, costs over $201 million.
“The record number and value of major projects show that construction is having a positive economic impact all around the province despite some slowing of our economic recovery. It’s encouraging to see that $17 billion worth of clean energy projects are proposed throughout B.C., which demonstrates B.C.’s commitment to being a leader in the global low-carbon economy,” said Pat Bell, minister of jobs, tourism, and investment.
Major project inventory numbers increased by more than 8% since the end of 2009, and their estimated value is up by $11.6 billion, or 6% over the same period. There are 468 projects planned in the lower mainland region, with an estimated capital cost of $65.6 billion.