Economic Development

Fall 2023


Hello .

Stay updated on Prince George's economic activities.

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 Q3

New Activity in the Community

Fortescue Advances Proposal for Prince George Green Hydrogen Project

Prince George is becoming a global leader in green hydrogen production. Australian mining giant Fortescue, announced its plans to advance its proposal for a green hydrogen project after signing an MOU with the Lheidli T'enneh First Nation.

The project, which is expected to create over 100 permanent jobs and generate diversified economic opportunities, will use renewable energy sources to produce green hydrogen, a clean and versatile fuel that can be used for transportation, industry, and power generation.

Fortescue's Executive Chairman and Founder, Dr. Andrew Forrest, said that Prince George was chosen for its strategic location, abundant natural resources, skilled workforce, and supportive government policies. He also praised the city's commitment to becoming a net-zero carbon community by 2050.

Mayor Simon Yu welcomed the announcement, saying that it was a “game-changer” for the city and the region. He said that Prince George was ready to embrace the green hydrogen opportunity and grow into a “hydrogen hub of global significance”.

The project is still subject to regulatory approvals and final investment decisions, but Fortescue hopes to start construction in 2024 and begin operations in 2026.

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City of Prince George Joins Canadian Hydrogen and Fuel Cell Association

The City of Prince George is proud to announce that it has become an associate member, and the inaugural municipal member, of the Canadian Hydrogen and Fuel Cell Association (CHFCA). CHFCA is a national, non-profit organization that supports the Canadian hydrogen and fuel cell sector. The City joins over 70 members from across Canada, including government industry leaders, research institutions, agencies, and other stakeholders.

Prince George recognizes the potential of hydrogen and fuel cell technologies to reduce greenhouse gas emissions, create economic opportunities, and enhance energy security. The City is committed to exploring and supporting the development of a hydrogen economy in Prince George and the region. As a member of the CHFCA, the City will have access to valuable information, resources, and networks that will help advance its goals and initiatives in this emerging sector.

“We are delighted to welcome the City of Prince George in British Columbia as our association's inaugural municipal member,” says Ivette Vera-Perez, President and CEO of the CHFCA. “As the city is a key player in the advancement of lighthouse projects in central BC's hydrogen hub, the CHFCA, and our Hydrogen BC affiliate looks forward to closely collaborating with the City of Prince George on their path to net-zero and learning from them succeeds as we support other Canadian municipalities in advancing their hydrogen goals.”

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Accessing International Workers
Through Immigration Roadshow

On August 14, 2023, the City of Prince George hosted a special event to help local businesses and organizations learn how to access international workers through immigration. The event presenters included Northern Development, Ministry of Municipal Affairs, and Immigration Refugees and Citizenship Canada (IRCC). The speakers explained the criteria and processes of various provincial and federal economic immigration programs, including the BC Provincial Nominee Program (BC PNP) and Express Entry. 



Advanced Design & Manufacturing Expo

The Economic Development Division attended the Advanced Design & Manufacturing (ADM) Expo in Toronto from November 7 to 9, 2023 to attract investment and promote the advantages and opportunities of doing business in Prince George and the region. The ADM Expo is Canada's only end-to-end advanced manufacturing event that showcases the latest trends and technologies in automation, packaging, and more. 

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Latest Economic Trends

CMHC’s Housing Accelerator Fund

The City of Prince George has applied to the Housing Accelerator Fund (HAF), a new initiative by the Canada Mortgage and Housing Corporation (CMHC) that aims to increase the supply and affordability of housing in Canada. The HAF provides grants to municipalities that demonstrate leadership and innovation in accelerating housing construction and improving housing outcomes. The initiatives identified in the City's application intend to increase the annual rate of housing growth in Prince George by at least 10%.

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Business Scale-Up and Productivity

Pacific Economic Development Canada (PacifiCan) hosted a webinar for the Business Scale-Up and Productivity (BSP). The BSP program is a federal funding initiative that helps high-growth businesses in British Columbia scale up, innovate, and compete in the global market. It offers interest-free, repayable funding for productivity improvement, technology adoption, market diversification and expansion, commercialization, and more.

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Natural Resource Forum

Join us on January 16, 2024 at 12:00pm at the House of Ancestors for a pre-conference session including lunch, stories about local initiatives related to climate action and sustainable development, relationship-building, and opportunities to access organizations that can help provide communities with funding and capacity support.

Register Here


Prince George in the News

Prince George Airport Authority receives $300,000 for expanded equipment storage

Funding received from Northern Development will provide more space for essential equipment to keep runways and grounds in excellent condition. 

Shovels in the ground on new Caribou Crossing development

“We see Prince George as a growing economy [with] lots of opportunity.” - Troika Development building new commercial spaces by year's end.

FortisBC gas bills reduced due to decreased cost of gas rate

FortisBC has received approval from the BCUC to decrease the cost of gas rate for all of its customers, both residential and business.

Housing leads development in October for Prince George

New houses led the way for Prince George in October when it comes to building permits.

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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