Economic Development

Summer 2023


Hello. Keep a finger on Prince George's economic pulse. Read our quarterly Economic Development eNewsletter to learn about:

  • Updated statistics.
  • New and exciting developments and programs in the community.
  • Important information about the latest economic issues, trends, and topics.

Economic Update - 2023 Q2

New Activity in the Community

Prince George renewable diesel refinery a first in Canada

British Columbia's clean fuel goals and vision of a low-carbon future have come into sharper focus now that Canada's first stand-alone renewable diesel refinery in Prince George has completed construction and will soon begin production.

Using bio-feedstocks, such as canola, tallow and tall oil, the Tidewater facility will produce renewable diesel which offers an 80% to 90% reduction in carbon emissions compared to fossil fuel diesel. The process involves lowering the carbon intensity of transportation fuels by blending them with renewable feedstocks, resulting in a product that reduces carbon emissions from transportation and supports the fight against climate change.

When fully operational in the near future, Tidewater Renewable's facility is expected to produce more than 3,000 barrels of low-carbon fuel a day, or approximately 170 million liters a year. The facility will also produce renewable hydrogen, which will be used in the production of the low carbon fuel, with the potential to supply excess renewable hydrogen for other uses.

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Housing Needs Action Plan

A grant application to the Northern Healthy Communities Fund, administered by the Northern Development Initiative Trust, was recently approved for the City to create and implement an action plan in response to the community's housing needs. The project is intended to support the construction of housing within the community by determining how to get the necessary housing built and what barriers the City of Prince George is able to reduce to active developers to build in the community. The $300,000 grant will support the hiring of expert consultants to devise the action plan and hiring a staff member to carry out the action plan.

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Hydrogen Technology Expo North America

The City's Economic Development division attended the in  Hydrogen Technology Expo North America  in Houston, Texas where the division's manager sat on a panel discussion with the Canadian Hydrogen and Fuel Cell Association to speak about the status of Canada's hydrogen landscape, projects and demonstrations underway, and opportunities. City staff also met with many major project developers in the Texas market alongside the City of Prince Rupert with the assistance of Global Affairs and the Consulate of Canada based in Houston.

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Supporting BC's Hydrogen Sector with Geological Research and Community Action - Webinar

The City of Prince George was asked to join a panel on BC's hydrogen sector and presented its competitive advantages and the work its doing in its part to lead the Central BC Hydrogen Hub. Industry proponents within the memberships of Geoscience BC and the CHFCA were in attendance, and other panelists on the webinar included the Director of the BC Hydrogen Office, Executive Director of Hydrogen BC, and VP of External Relations for Geoscience BC.

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Latest Economic Trends

Carbon Capture Capacity in Northeast BC

Carbon capture and storage (CCS) has been identified as a priority emissions reduction and mitigation strategy by federal and provincial governments, industry and others. Supported by BC's Center for Innovation and Clean Energy, Geoscience BC recently completed a research project looking at carbon storage capacity in northeast BC and discovered that 4,230 Mt of carbon dioxide could potentially be stored in natural formations in this region. Prince George is proximal to the study area, and near a future study area that will investigate similar storage capacity in the Nechako Basin.

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Updated Housing Needs Report

The updated information reveals that the overall housing rate is still considerable and may even be underestimated. Data from the recent census period includes the effects of income offset programs rolled out during the COVID-19 pandemic, but can't show the effect of the end of these programs.

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Resources for Wildfire Impacted Individuals & Businesses 2023

The BC Economic Development Association has developed a document of resources for individuals and businesses affected by the wildfires in BC. The information in the document is constantly being updated as new information and resources are released. Check back in this document regularly for up-to-date information regarding the wildfires including:

  • Evacuation information
  • Pet/Livestock care
  • Insurance
  • Health resources
  • Links to Regional District emergency websites
  • Sector specific resources

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Prince George in the News

BC Energy Minister says PG has all the tools to become a key hydrogen hub

Energy and Mines Minister Josie Osborne believes the Prince George-area has positioned itself well to become Central BC's hydrogen hub.

Northern BC's economy still strong despite forestry industry downturn

Thanks to increased activity and investment in mining and energy, the economies of BC's northern town are proving resilient.

TELUS investing $10.4M in Prince George

Improvements, including enhancements to the TELUS PureFibre network, are planned between 2023 and 2027.

Prince George: BC's Northern Capital

BCBusiness featured Prince George as the "catalyst of the modern Canadian north."

City of Prince George, 1100 Patricia Blvd, Prince George, BC V2L 3V9
Email: | Telephone: 250-561-7633 | Fax: 250-561-7724

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