The $1.4 billion Evergreen Line and the $8 billion Seaspan federal shipbuilding contract drove an increase in “proposed, underway, completed or on hold” capital investment in Southwest B.C. last year, according to a new report.
The BC Check-Up, released by the Chartered Accountants of BC, found that Southwest B.C. saw an increase of $7.08 billion in capital investment last year, rising to $71.68 billion.
The report assessed that 2011 market the second year of economic growth for B.C. since the 2009 recession. It noted that the province’s job-creation rate grew by 0.8% for an increase of 18,200 jobs, most of which were created in Vancouver.
The BC Check-Up also found that B.C.’s overall labour productivity rose 3.7% last year. It noted that a large contributor there was capital investment in machinery, equipment and “physical structures.”
While the report noted that global economic uncertainty remains in 2012, it assessed that B.C. is seeing some positive indicators, such as growth in building permits in the first half of the year. It noted that up until May, the value of B.C. building permits was $4.4 billion – a level not reached since 2007.
