The B.C. government has announced a funding agreement worth $200 million over 20 years with Northern Rockies Regional Municipality to help it build public infrastructure needed for a population boom.
The municipality in the heart of the gas-rich Horne River basin estimates it will need to spend $230 million on major capital projects over the next two decades.
The region has a population of just 5,500. But it is expected to more than double by 2025, due to a shale gas boom and liquefied natural gas industry.
“Natural gas sector expansion and the potential growth of the region will place significant demands on the community for housing, infrastructure and community services that cannot be met only through property taxes,” a government news release states.
Under an agreement signed with the municipality, the B.C. government will provide up to $10 million per year for 20 years to help build infrastructure.
“The economic benefits of LNG will be enormous and unprecedented across British Columbia, including the remarkable growth to the Northern Rockies Regional Municipality,” said Premier Christy Clark.
“We will continue to work closely with local governments and ensure they are prepared for the expansion.”
