Dawson Creek economy took a hit last year as unemployment increased, housing construction virtually stopped and the local economy stalled. Today, that’s all changing. Here are the Top 4 Dawson Creek Growth Trends to Watch:
1. Billion Dollar Gas Plants Coming to Dawson Creek
A recent partnership between Veresen Inc and Encana Corp is bringing $1.5 Billion to two new gas processing plants in the Dawson Creek area.
The announcement comes as Veresen is already building two new gas plans nearby – the Sunrise and Tower plants. New investment brings total Veresen partnerships to over $3 Billion in Dawson Creek.
Click to read BIV Article, “Billion-dollar gas plant approved for Dawson Creek area”
2. Dawson Creek Unemployment is Falling
Dawson Creek unemployment rate has fallen half a percent since February 2016 according to Statistics Canada. As reported in the Dawson Creek Mirror,
The region recorded an 8.7 per cent unemployment rate in February, according to Statistics Canada’s March 10 jobs report. The rate sat at 9.2 per cent last February and 10.5 per cent last month.
In the northeast, 40,700 people were employed last month, compared to 39,600 this time last year.
A falling unemployment rate is a sign that growth is returning. It will not be long before new residents are drawn back to the area and housing construction market returns to 2013/14 levels.
Click to view Dawson Creek Mirror Article, “Northeast unemployment down amid hopes of recovery”
3. Oil and Gas Land Sales Recovering
Ask anyone in the Dawson Creek business community and they’ll tell you that the level of oil and gas land sales are a strong indication of what’s coming for the city. Oil and gas remains one of the largest industry sectors in the region.
Land sales generally indicate coming increases oil and gas drilling activity. Drilling spins off into a host of local industries, raising the economic outlook for the entire region. Increased activity and employment leads to housing recovery and the need for new homes.
Here are two Dawson Creek Mirror articles about increasing oil and gas land sales: “February oil and gas land sale no bonanza, but signs of recovery persist” and “B.C. oil & gas land sale raises more in one day than last two years combined‘
4. Dawson Creek Hospital Expansion Approved
Dawson Creek is getting a new hospital expansion to the tune of $95 million. Funding has been committed by the BC Liberals and Peace River Regional Hospital District.
New hospital will provide emergency rooms, ICU and in-patient beds. Local and regional governments have been quick to praise this much-needed move.
The new medical facility will increase services for local residents and provide opportunities for Dawson Creek population expansion.
See the announcement as reported in The Mirror “DC Hospital gets $95 million greenlight”
Dawson Creek Still Top BC Community to Live & Invest
And finally, as a bonus Dawson Creek growth trends to watch, BC Business magazine determined Dawson Creek was the 2nd best place in British Columbia for work.
BC Business’ rationale:
Income growth: 28.0%
Average household income: $96,902
Average income, 35 & Under: $69,276
Population Growth: 9.90%
See the full ranking at https://www.bcbusiness.ca/best-cities-for-work-in-2016-the-ranking
Dawson Creek is on the rebound. As gas plants get built, oil and gas activity increases, unemployment falls. An additional provincial investment into health care demonstrate, the Dawson Creek growth trends are something to watch closely. Housing growth will be soon to follow.