The construction sector in B.C is in a deep malaise as the economy treads water
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The construction sector accounts for close to 10 per cent of the B.C. economy. It sector contributes over $28.5 billion annually and directly supports more than 264,000 jobs.
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“Construction is in every aspect of the economy,” says Scott Jacob, president of Jacob Bros. Construction. “And it’s a reflection of the provincial economy.”
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The economy in B.C., according to the B.C. Real Estate Association, has been treading water over the past year.
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“Seven thousand construction jobs have been lost,” says Chris Gardner, president of the Independent Contractors Business Association. One of the factors is the reduction in the three-year provincial government capital plan by roughly $7 billion, due to the NDP’s pullback on a number of projects.
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FP West: Energy Insider
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Other factors contributing to the malaise include a dramatic drop in housing starts, a building code quagmire, project approval delays, added taxation, and development fees.
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Jacob joined for a Conversation That Matters about the state of the construction industry in B.C.
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Learn More about our guest’s career at careersthatmatter.ca
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Join us Sept. 22 for Conversations Live, artificial intelligence and cybersecurity.
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