News and event information for Williams Lake, BC - as it happens.

According to the BC Check-Up, a new report by the Chartered Accountants of BC, the value of major projects across the province has grown significantly since 2011. In the first quarter of 2012, the value of all projects under construction in BC totaled $78.9 billion - a 25 per cent increase over the first quarter of 2011.

“Looking forward, these large-scale investment projects have the capacity to help shape the province’s economic identity,” said Richard Rees FCA, CEO of the Chartered Accountants of BC. “Further, many of the resource-based projects will provide substantial economic benefits to a number of smaller communities throughout the province - many of which have suffered from stagnant or declining job markets. These benefits include job creation and higher incomes, as well as greater spending on local goods and services.”

The report profiles eight new, large-scale investment projects that cover a wide-range of sectors, including coal and metallic minerals, energy, public infrastructure, and transportation.

Those projects profiled in the report include:

• Kitimat Modernization Project:  Kitimat, capital amount: $2.7 billion
• Quintette Coal Mine: Tumbler Ridge, capital amount $500 million
• Kitimat LNG Terminal:  Kitimat, BC, capital amount $3 billion
• Forest Kerr Run-of-River Hydroelectric Project: Iskut River, Northwest BC, $700 million
• Site C Clean Energy Project: Ft. St. John, capital amount $8 billion
• Seaspan Marine Corporation National Shipbuilding Procurement Strategy Contract:  North Vancouver and Victoria, capital amount $8 billion
• Fairview Terminal Phase 2: Prince Rupert, capital amount $650 million
• Evergreen Rapid Transit Project: Burnaby to Coquitlam, capital amount $1.4 billion

The report also recommends the provincial government continually monitor its tax policies and regulatory system to ensure they are clear and predictable to investors and businesses alike, which will help ensure the province remains an attractive place to invest.

The Institute of Chartered Accountants of British Columbia is the training, governing and regulatory body of B.C.'s 11,000 members and just over 1,800 CA students. The Institute carries out its primary mission to protect the public by enforcing the most demanding admission criteria and the highest professional and ethical standards. Thanks to the quality and rigour of their education and training, CAs are recognized internationally for bringing superior financial expertise, strategic thinking, business insight and leadership to organizations.

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