Pro-Active Municipal Government
Thanks to a progressive local government, Powell River provides a stable and low cost environment for investors.
The municipality was one of the first in BC to recognize that it could not put a majority of the tax burden on Industry and made the decision to reduce its industrial tax rates over 5 years. This move allows the community's largest employer, Catalyst Paper Inc. to realize a cumulative savings of $3 million.
For years investors have been hesitant about investing in British Columbia because of unsettled land claims...in Powell River this is not a concern. Not only is the Tla'Amin Nation close to signing off on a Treaty with the Federal and Provincial governments, but it has also entered into an accord with the City of Powell River. The only one of its kind in BC, the Accord outlines how the two communities will work together in close partnership to advance economic and social development initiatives, so that all residents of the region will benefit from development.
The City has also entered into another innovative deal involing the Tla'Amin First Nation and Catalyst Paper Corporation. The three parties have founded a limited partnership company which has assumed ownership of approximately 800 acres of surplus lands formely owned by Catalyst. Under the partnership the three partners will develop or sell the lands to help diversify the local economy. Of particular note is 100 acres right beside Catalyst's paper mill, which will be developed into a marine industrial park for light manufacturing operations.
Industrial Lands
New industrial lands have recently become available adjacent to Catalyst Paper Corp.'s manufacturing facility at the northern end of the City's waterfront. Over 100 acres have been designated for industrial development and unlike many other centres are already zoned for the purpose, thereby eliminating the need to wade through bureaucratic red tape.
Being located right on the waters edge, within Catalyst's breakwater, incoming manufacturers will have ready access to the marine barge system allowing for the easy transport of products to North American shipping lanes. As mentioned previously, the two barge companies servicing the area are able to transport a wide variety of products and can offer very competive rates that are hard to match.
Being in close proximity to the Catalyst mill site means easy access to basic operating needs. The industrial lands are already equipped with the infrastructure needed to deliver a more than adequate supply of water, hydro and natural gas. This means all that an incoming manufacturer has to concern itself with is constructing a facility.
The industrial development lands are competitively priced, and can be purchased for a much lower cost than most communities in the province of British Columbia. Industrial property tax rates are also very reasonable and will be reducing over the next two years.
So far, there are at least 3 value added manufacturers representing approximately 300 to 500 new jobs that are working to secure land in the development. there are also a number of other parties who have expressed strong interest in the site.
Value Added Wood Manufacturing
Local Furniture, Flooring, Cabinet and Specialty Cut Lumber manufacturers are experiencing a marked increase in production. Some have doubled their staffing levels and expanded their markets to the United States and Europe. The establishment of a community forest license in the region in 2005 is expected to fuel further growth in this sector in the future.
Energy Production
Powell River has become a hot commodity in the power generation sector as of late.
Plutonic Power Corporation recently began construction on its $500-million 'run-of-the-river' hydro generation project at Toba River East and Montrose Creek. The project will create approximately 300 construction jobs over it 3 year building phase and about 25 permanent jobs when completed. Plutonic is working to establish 9 other power generation sites in the region, and if successful will boost its investment into the billions.
On July 31, 2007 WestPac LNG announced that it was moving forward on a proposed $2-Billion Liquid Natural Gas Terminal and a gas fired power generating plant with a 1200 megawatt capacity on the Texada Island. If the company is successful in attaining all of its regulatory approvals, construction will start in late 2009. The development is projected to create approximately 500 construction jobs and 75 permanent.
New Commercial/Retail Development
Powell River has experienced an influx of new investment in the commercial/retail sector recently. Over the past year Starbucks, Mark's Work Wearhouse, Staples, Rona, Liquidation World and Dollarama have all established new outlets in the community. The opening of these new stores has generated over $13-million in new investment in the community and the creation of over 200 jobs.
Early in 2007, Quality Foods announced that it would be opening a new store in the city later in the year thereby bringing the number of grocery stores in the community up to a total of 4. The others are Safeway, Overwaitea and Mitchell Brothers.
Shellfish Aquaculture & Seafood Processing
The shellfish farming sector has experienced significant growth in the last few years and is poised to expand further. In particular, Taylor Shellfish has invested over 3 million dollars into operations in the Okeover Arm area and is considering a further investment in the near future. The number of people employed by this sector is projected to double in the next five years.
Cultural Capital
Powell River has a rich cultural fabric as evidenced by its designation as a "Cultural Capital of Canada" in 2004. The community boasts a wide range of artistic and cultural disciplines that have contributed to new investment in the local economy. Some examples of this are...
