Prince George has been ranked one of the top two cities in the west to place Canadian property investments over the next year by Western Investor magazine.
While Kelowna topped the list, B.C.’s northern capital earned second place out of five on the Western Investor’s list of 2020 best western Canadian investment towns.
Western Investor stated Prince George is forecast to see GDP growth of 1.5 per cent this year and 1.7 per cent in 2020, according to the Conference Board of Canada, which featured the city as among selected mid-size cities for best economic growth this year.
“Thanks to a healthy real estate market, finance, insurance, and real estate will be Prince George’s fastest-growing industry over this year and next, the board contends. This sector is forecast to expand by 2.6 per cent this year and 2.7 per cent in 2020,” writes Frank O’Brien in Western Investor.
The publication also cited the $44 million Kelly Road Secondary School that opens to 900 students in 2020, the University of Northern British Columbia expanding with a new $3.3 million program in occupational and physical therapy, and the construction of the 670-km Coastal GasLink pipeline that will deliver natural gas from Dawson Creek to LNG Canada’s under-construction liquefied natural gas terminal in Kitimat.
The magazine says although the pipeline does not run through Prince George, “the north’s largest city will reap benefits. With construction beginning this year and slated to end by 2023, the project will employ more than 2,500 workers.”
Chilliwack came in at number three, followed by Lethbridge at number four, and Moose Jaw at number five.
You can read the full article online.