Employment would notably increase in Canada in an investment scenario that creates an LNG industrial capacity of 56 million tons per annum in British Columbia.
That’s according to a new report from the Conference Board of Canada (CBC), which outlined that the country would see an employment rise of 95,550 jobs annually in such a scenario. British Columbia alone would see an increase of 71,000 jobs annually and Ontario, Alberta and Quebec would all see permanent job increases, the report outlined.
The industry would boost total wages in Canada by over $6 billion a year, the report revealed, adding that British Columbia alone would realize $4.6 billion of that increase.
Canada’s GDP would rise, on average, by more than $11 billion per year over the term of the scenario – 2020 to 2064 – and more than $90 billion in revenue could be generated for provinces and territories in Canada during that period, according to the report.
“Post-pandemic, the Canadian economy will need stimulus. An LNG industry brings long-term investment and production that can contribute to the country’s economic recovery,” the CBC report stated.
“Globally, the LNG industry is highly competitive. Investors look for jurisdictions with the right mix of policies, location, natural gas supply, supporting infrastructure, regulatory processes, and availability of skilled labor. British Columbia meets many of these needs,” the report added.
“There’s a rising tide of interest in growing an LNG industry in British Columbia,” the report continued.
The report uses CBC’s interregional, input output model to produce detailed industry, employment, and supply chain impacts, nationally and across other provinces, the report highlights. Data for the report was sourced from Statistics Canada, internal Conference Board materials and directly from parties in the LNG industry in British Columbia.
CBC describes itself as the foremost independent, applied research organization in Canada. Based in Ottowa, the organization is led by chief executive officer Susan Black.
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