A message from Pat Bell - April 12, 2010
| Politics |
Hi all,
It really does feel like we have turned the economic corner and are on our way back up with some of the news in BC. Lumber prices continue to increase, unemployment rates are down and investments continue to come. Although it’s been a tough couple of years I really do feel that the recovery will be much quicker than I originally anticipated.
We are back in Victoria for a fairly long stretch in the Legislature. I have several bills up for debate and expect more will be tabled in the coming weeks. In addition my “Estimates” debate where the Opposition Members look at my budget line by line is up soon as well so I’m expecting quite a bit of action in the House.
Have a great week!
Pat
1. Exciting news for the Gantahaz Subdivision in Mackenzie. They have been waiting for years to get high speed internet and thanks to a $50,000 Provincial Government grant ABC Communications of Prince George will be moving forward with the project.
2. The unemployment rate continues to fall in the Prince George area. March saw a rate of 9.3% down from 12.3 in February and 12.9 in January.
3. Lumber prices continue to escalate as well with the “Composite Index” at $342 this past week compared to $202 a year ago. This has led to a reduction in the border tax as of May 1 from 15% to 10%. I really believe we will start seeing some mills re-open and shifts being added back. In addition I would expect a significant increase in logging activity this summer.
4. The real driver behind price increases was seen in January 2010 when B.C.’s total softwood lumber exports increased by 22% over January 2009. This includes a four-fold increase in the exports to China, a six per cent increase in exports to the U.S. and an 11 per cent increase in exports to Japan.
5. BC Hydro has received environmental assessment certificates for the Mica Generating Station Unit 5 and Mica Generating Station Unit 6 projects. The projects involve installing two 500-megawatt turbines into existing bays at the Mica Generating Station, located at the Mica Dam on the Columbia River. The Mica Unit 5 project also includes a new capacitor station near Seymour Arm along the existing transmission lines from Mica Generating Station to the Nicola Substation. The Mica Generating Station was commissioned in 1977, designed and fully licensed to accommodate six units, but construction of the fifth and sixth units was deferred until additional capacity was required. Four turbines currently operate with a generating capacity of 1,805 megawatts. With the installation of the fifth and sixth units, the generating capacity will increase to 2,805 megawatts.
6. Great news for Residents and travelers in the Prince George and South Cariboo regions! Three contracts have been awarded to widen sections of Highway 97 from two lanes to four lanes. A $12-million contract to replace the two-lane Stone Creek Bridge south of Prince George with a new, four-lane bridge, and widen 1.5 km of Highway 97 south of the bridge, an $11-million contract to widen 3.5 km of Highway 97 to four lanes from 148 Mile to Likely Road in 150 Mile House. In addition, the two-lane Borland Creek Bridge will be replaced with a new four-lane structure and a new pedestrian underpass will be built at Pigeon Road and Highway 97. Also awarded is a $4.4-million contract to realign and widen two kilometres of Highway 97 through the Cargyle Curves, 14 km south of Clinton. The waits will be worth it!
7. This weekend Shirley and I announced that Province is providing the College of New Caledonia with almost $2.7 million for equipment and start-up costs and over $590,000 in annual funding for a new medical radiography technology diploma program. Medical radiography technologists create computer-generated images to help health-care teams diagnose medical issues, from simple X-rays to diagnose a broken bone to more sophisticated procedures that can detect heart or brain abnormalities.
8. In February 2010, B.C.'s average weekly wage was $813, fourth highest in Canada. The average weekly wage has risen by $165 - or more than 25 per cent - since 2001, when it was $648.
9. Consumer confidence in British Columbia rose by a record 25.9 points in March and now sits at 121.1 points. The Conference Board of Canada reports B.C.’s consumer confidence level is 28.6 points higher the Canadian average of 92.5.
10. In December 2009 China granted Canada approved destination status, allowing tour operators and travel agents in China to advertise and organize tours in Canada and British Columbia. Approved destination status could increase Chinese tourism to B.C. by 25 per cent annually over the next few years.
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