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All-Time Highs Continue in Second Quarter of 2008

Aug. 14, 2008

VICTORIA – Today’s release of the quarterly Major Projects Inventory shows the number of major construction projects in B.C. has increased for the twentieth straight quarter, Technology, Trade and Economic Development Minister Ida Chong announced today.

“We are continuing to see impressive numbers in large-scale construction projects across B.C.,” said Chong. “This is a clear signal that British Columbia’s economy remains strong and vibrant.”

According to the Major Projects Inventory, June 2008 edition:
  • Eight hundred and sixty-three major capital projects, worth an estimated record $169.7 billion, were planned or underway in B.C. between April and June 2008.
  • This is an increase of 30 per cent in estimated value from this time last year, when 826 major capital projects were planned or underway worth an estimated $130.2 billion.
  • This is a significant increase from June 2005, when there were 626 projects planned or underway worth an estimated $78.3 billion.
  • Seventeen major projects valued at $1.3 billion started construction, with the largest being the Royal Jubilee Hospital Patient Care Centre in Victoria and the River Rock Casino expansion in Richmond.
  • Thirty-three projects valued at approximately $1.9 billion completed their construction phase, including the Abbotsford Regional Hospital and Cancer Centre, the Creekside Residential Development in Whistler and the William R. Bennett Bridge in Kelowna.
  • The capital cost of all major projects listed under construction in British Columbia is estimated at $60.6 billion.
Published quarterly by the Ministry of Technology, Trade and Economic Development, the Major Projects Inventory lists all major projects that are proposed, planned and underway in the province. The inventory includes projects with a capital cost of at least $20 million within the Lower Mainland and projects valued at $15 million or more in the rest of B.C.
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Authorized By Jim Pipe, Financial Agent BC Liberal Party.
Tel: 604.606.6000, 1.800.567.2257