INFORMATION BULLETIN
For Immediate Release 2008ECD0007-000275 Feb. 29, 2008	Ministry of Economic Development
MAJOR PROJECTS INVENTORY REACHES ALL TIME HIGH AGAIN

VICTORIA – The provincial government’s Major Projects Inventory, which tracks the growth in the number of large scale construction projects in B.C., shows the number of total major projects in the province has increased with record breaking numbers again. This marks the 18^th straight quarter the inventory has grown.

 

According to the Major Projects Inventory, December 2007 edition:

 

• Eight hundred and thirty-five major capital projects, worth an estimated record $148.1 billion were planned or underway in B.C. between October and December 2007.
• This is an increase of seven per cent in the number of major capital projects and an increase of 27 per cent in estimated value from this time last year, when there was 781 major capital projects planned or underway worth an estimated record $116.9 billion.
• This is a dramatic increase from December 2001, when there were 315 projects planned or underway worth an estimated $45.7 billion.
• The capital cost of all major projects listed as under construction in B.C. is estimated at $57.3 billion, up from $53.3 billion in the third quarter of 2007. This is a marked increase from December 2001 when the capital cost of all major projects under construction was worth an estimated $17.3 billion.
• Thirty-five major projects started construction in the last quarter valued at approximately $4.7 billion.
• Thirty-four projects completed construction in the fourth quarter with an estimated capital cost of approximately $1.7 billion, two of the largest being the Imperial Landing development in Richmond and the Spectrum development in Vancouver.

 

Published quarterly by the Ministry of Economic Development, the Major Projects Inventory lists all major projects that are proposed, planned and underway in the province.

 

The inventory includes projects with a capital cost of at least $20 million within the Lower Mainland and projects valued at $15 million or more in the rest of B.C.

 

The December edition of the Major Projects Inventory is available online at www.gov.bc.ca/ecdev.

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1 backgrounder(s) attached.
Media contact:	Rena Kendall-Craden Communications Director 250 952-0152
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