B.C. boasts of $3.7 billion worth of new major construction projects
Still many proposed projects now in the on-hold column
Developers added proposals for 41 new large construction projects worth $3.7 billion to B.C.’s inventory of major works between April and the end of June, Economic Development Minister Iain Black said Thursday.
That brings the list of major construction jobs proposed or underway to 882 with a value of $188 billion, raising the inventory’s value for the 19th straight quarter, Black said.
However, an increasing number of projects has been moved to the “on hold” column of the report.
“These consistent increases reflect investors’ steadfast confidence in our province’s economic recovery, as well as government’s actions to support B.C.’s construction industry,” Black said in a news release.
“We’re investing $14 billion to build vital public infrastructure in every region of B.C. and to create up to 88,000 jobs when B.C. needs them most.”
But seven large projects with a value of $1.5 billion were put on hiatus between April and the end of June, bringing the number of projects on hold to 59 with a value of almost $20 billion.
Of the 882 projects listed in the inventory, contractors started work on 23 jobs between April and the end of June with a value of $4.2 billion.
Construction is underway on 346 of the listed jobs, worth almost $67 billion.
The provincial Major Projects Inventory is a rolling catalogue of major works, defined as being worth $20 million or more in southwestern B.C. and $15 million or more elsewhere.
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