A Rising Tide: The Economic Impact of B.C.’s Liquified Natural Gas Industry
The Conference Board of Canada, 17 pages
July 27, 2020
This briefing focuses on the investment, GDP, employment, and fiscal gains that the LNG industry would generate for Canada in general and B.C. in particular.
British Columbia is becoming the focal point of a new Canadian industry—liquefied natural gas (LNG). This briefing looks at the impacts based on a scenario that creates a 56 million tonne per annum LNG industrial footprint in the province.
- Between 2020 and 2064, total annual investment would average over $11 billion, totalling in excess of $500 billion over the entire period.
- For Canada as a whole, LNG would mean 96,550 more jobs a year and over $6 billion in wages.
- For British Columbia, there would over 71,000 more jobs a year and over $4.6 billion in wages.
- From 2020 to 2064, over $108 billion in provincial revenue could be generated for the provinces. Of this total, nearly $94 billion would go to British Columbia.
- The federal government could expect to see $64 billion in additional revenue.
Table of Contents
- Key findings
- A rising tide
- Asian markets present a demand opportunity
- The investment wave
- The employment wave
- The government revenue wave
- Appendix A: Methodology
- Appendix B: Annual GDP impacts by province and sector
- Appendix C: Average annual labour impacts by province and sector
- Appendix D: Bibliography