B.C. economy rebound forecast

A lower Canadian dollar and a slow recovery in the U.S. and around the world bode well for the B.C. economy

Rick Parcher worked on gas drilling rigs in northern B.C. and Alberta for 15 years before returning to B.C. last fall to carry on a family tradition as a charge hand at Alternative Forest Operations in Chemainus.

A lower Canadian dollar and a slow recovery in the U.S. and around the world bode well for the B.C. economy in the next two years, a new report from the Business Council of B.C. says.

“The U.S. economy is gaining ground, the Eurozone is out of recession, and Asia, particularly China, continues to expand at a robust clip,” said executive vice president Jock Finlayson as he released the BCBC economic outlook report Tuesday. “The weakening of the Canadian dollar relative to the U.S. dollar will also help lift B.C.’s export of goods and services to the U.S., prompt more U.S. travellers to come to B.C., and serve as a headwind to cross-border shopping.”

The report forecasts improvement in U.S. demand for lumber and other building materials, wood pulp and even natural gas, which has fallen to historic lows with a surge of shale gas production around North America.

Recovery of the struggling B.C. coastal forest industry was echoed at last week’s Truck Loggers’ Association convention.

“I’ve got a desk covered with resumes of people who work in the oil patch,” said Don Banasky, operations manager at CopCan Contracting Ltd. and FallTech Logging in Nanaimo and vice-president of the TLA.

Banasky said there are openings for road building, driller-blaster, grader and excavator operators in his operations, and some employees at remote oil and gas developments are anxious to work closer to home.

The BCBC report holds out hope for a B.C. government that has seen its much-advertised jobs plan fizzle in the past two years.

“Following essentially no net employment growth in 2013, we see the B.C. job market recovering in the coming year,” the report says. “Growing exports, higher non-residential construction outlays and some increase in consumer spending will translate into greater demand for working and more hiring by B.C. businesses.”

The report forecasts that two liquefied natural gas processing plants and pipelines to supply them will begin in 2015.

 

Just Posted

B.C. storm totals $37M in insured damages: Canadian Bureau

The December storm wreaked havoc on B.C.’s south coast

New look and feel on the horizon for Gate House Theatre in Port McNeill

“We are hoping between now and then to do another fundraising campaign for acoustics”

North Island Bantam Eagles capture Tier Three banner with win over Powell River Kings

The Eagles next game is Jan. 19 against the Juan De Fuca Grizzlies at 4:00 p.m. in Port McNeill.

Mainroad meets with Regional District of Mount Waddington

“It was really nice to have Mainroad there to give a presentation to the RD”

Giant rotating ice disk forms in Maine river

Ice disk that is roughly 100 yards wide has formed in the Presumpscot River

Pregnant B.C. firefighter tries to save own house that caught fire

Julia Flinton and Anthony Sellars both worked on the 2017 wildfires

Theresa May wins no-confidence vote after Brexit deal rejection

UK PM can keep her job, after House of Commons voted 325-306

First Nation supporters march to Horgan’s MLA office

Dozens marched across the Greater Victoria community of Langford to support the Wet’suwet’en people

North Cowichan will host national rowing centre starting October 2020

Saanich’s bid for national rowing centre at Elk Lake sunk

Liberal candidate steps aside after singling out Jagmeet Singh’s race

Karen Wang says she made comments online that referenced Singh’s cultural background

SUV wedged on top of car in B.C. mall parking lot has customers confused

The accident occurred Tuesday, no injuries were reported

Tom Lavin and the Powder Blues Band among acts to perform at Comox Valley’s Winterfest

Participating hotels offering half-price “ski & stay” packages

Most Read