BC CHAMBER NEWS
CDN CHAMBER NEWS
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· IMF predicts Canada will lead the G7 countries in growth at 1.2% in 2009. · Canada has 18 domestic banks, the US has 8000. · The Oct 9, 2008 Prestigious World Economic Forum declared Canada has the soundest banking system in the world out of 134 countries, US ranked 44th. · BC's Employment rate is 95.4%, text book perfect! · BC's Consumer Price Index is 1.9%. · Residential building permits in BC for 2002 were $2.8 billion, and finished 2007 at $8.6 billion, a 271% increase, and 2002 was a great year! · BC Commercial building permits in 2002 were $1.1 billion and for 2007 $2.6 billion. · Average (single family and condo) home sale prices in 2002 were $250,000 and $453,000 in 2008, a 'mere' 81% increase. Even with a BCREA forecast of $413,000 in 2009, the appreciation would be just '65%' over 7 years. · BC now has the lowest prov. personal tax rate of any province. Prov. corporate taxes are 1/3 less today than in 2001. · Provincial government investment in education has grown 30% in the past 7 years, and investment in health care has risen 60% in the same period. · Out of all Canadian provinces, BC is least dependent on the US market. · Mining drilling rights sold in BC this year in the first 6 months of 2008 doubled the previous annual record. · Energy companies, in 2007, discovered almost twice the amount of natural gas as British Columbia produced during the year, raising provincial gas reserves to a new high. · B.C. set a record for the auction of exploration drilling rights with companies bidding $1.8 billion by July with total lease sales expected to raise close to an eye popping $3 billion (combined with the annual royalties paid by natural gas and oil producers). There's a good chance that within the next five to 10 years B.C.'s gas production will exceed Alberta's gas production. · BC's inward migration plus births increased by 20,215 people. · BC's population grew 1.7% during the twelve-month period ending July 1st, 2008, rising to 4,381,603. The Canadian population as a whole expanded only 1.2%. · 2010 - The largest television audience in history! Three billion people will watch the Vancouver Whistler Winter Olympics in 2010. · A new RBC study conducted during the market turmoil in October finds Canadians overall have intentions to purchase a home in the next two years, which remains steady at 22% and has not changed since January 2008. · Forestry is the largest industry. Forest covers half of B.C. · B.C. has the largest and oldest trees in Canada. · B.C.'s mountains, parks and beaches attract many tourists. · Mining is the third-largest industry (copper, coal, gold, silver, zinc, sulphur, and asbestos). · B.C. has the largest fishing industry in Canada (salmon, halibut, clams, cod, crab, oysters, rockfish, shrimp and herring). · Fraser Valley has cattle and dairy farms and farms that grow fruit and flowers. · There are many orchards in the Okanagan Valley (apples, cherries, peaches, apricots, and plums). · The province is Canada's third-largest generator of hydro electricity. · B.C. is Canada's second-largest natural gas producer. · B.C. is the third-largest film and television production centre in North America (after New York and Los Angelos · The loonie's tumble serves up a 20% advantage for Americans buying Canadian investment and recreational real estate.
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