Woodfibre LNG project forecasts a 13 6 billion Canadian economic output
Economic analysis shows the Woodfibre LNG project in British Columbia will generate 13 6 billion Canadian dollars in economic output alongside 11 6 billion dollars in government revenue
The Woodfibre LNG Project is generating substantial economic benefits for Canada and British Columbia, according to a new study by Deetken Insight. Construction activities are expected to contribute nearly $13.6 billion to Canada's GDP and generate around $11.6 billion in government revenue over the project's 40-year operating period.
This includes an estimated $6.8 billion for British Columbia and around $485 million in municipal property taxes. The project has already created over 52,000 employment-years, representing more than 15,000 direct and indirect jobs, and will generate approximately $7 billion in construction GDP, $3.6 billion in labour income and support thousands of jobs.
Woodfibre LNG President and CEO Luke Schauerte stated that the project is already delivering significant economic benefits, creating jobs, supporting businesses and contributing to the economy and communities in British Columbia and across Canada.
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