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50 INVEST in BC 2 0 2 3 Official Publication of the BC Economic Development Association. In special partnership with BCBusiness. once the terminal is operational in 2025. All in all, Northwest- ern B.C. accounts for nearly half the major project spend in the entire province, the Chartered Profession- al Accountants of B.C. noted in their latest B.C. Check-up. In addition to LNG Canada and Coastal Gaslink, work is proceeding on the $600-million Fairview Container Terminal ex- pansion in Prince Rupert, the $623-million Mills Memorial Hospital rede- velopment project in Ter- race, a $75-million port expansion in Stewart and a handful of independent power projects scattered throughout the region. These energy, trans- portation and health care projects illustrate how the economy of North Coast and Nechako has diversified beyond the traditional activities of logging, fishing and mining. The combination of high commodity prices and huge capital projects "creates a window of opportunity for Northern B.C. to capitalize on these investments to grow small and medium enterprise, while at the same time utilizing the proceeds of public-sector investments to improve infrastruc- ture, amenities, and services in our communities to make them more sustainable and attractive places to call home," wrote Joel McKay, chief executive of- ficer of the Northern Development Initiative Trust, in his introduction to the non-profit's State of the North report for 2021. In the Golden Triangle, Newcrest Mining is expanding the Red Chris Mine at a cost of $1.5 billion and the KSM copper-gold mine is in pre- construction, with a budget of $5.3 billion. Several other mineral exploration projects in the feasibility and permitting stages. The Yellowhead corridor between Smithers to Vanderhoof, part of the Nechako region, has been affected by forest industry consolidation. Nonetheless, the communities in the area have demonstrated remarkable resilience over the years and have managed to thrive. Recent retail and commercial developments in Houston have led to the establishment of a full-time grocery store and a Tim Hortons, among other opportunities. Although Canfor Corp. has temporarily shut down its Houston sawmill, it plans to modernize the facility and create more value-added jobs through the addition of a manufacturing plant. Burns Lake is witnessing a flourishing partnership between local governments and Indigenous communities, which has resulted in the continued support for Babine Forest Products and the development of the award-winning Key- oh Lodge that is owned and operated by Ts'il Kaz Koh, formerly known as the Burns Lake Band. The North Coast/Nechako is working to turn the current burst of business activity around major projects into a base for stable employment and tax revenues far into the future. • N O R T H C O A S T / N E C H A K O REGIONAL POPULATION 101,927 UNEMPLOYMENT RATE 4.1% TOP EMPLOYERS BY INDUSTRY Retail trade 11.8% Health care & social assistance 11.8% Manufacturing 9.1% FORECAST EMPLOYMENT GROWTH, 2022-32 6,200 BUILDING PERMIT VALUES (2022) $280.2 MILLION HOUSING STARTS (2021) 105 (PRINCE RUPERT AND TERRACE ONLY) VALUE OF MAJOR PROJECTS PLANNED OR UNDER CONSTRUCTION (Q3 2022) $160.8 BILLION BUSINESS INCORPORATIONS (2022) 379 LEFT: DESTINATION BC/6IX SIGMA PRODUCTIONS SOURCES: B.C. L ABOUR MARKET OUTLOOK , STATISTICS CANADA AND B.C. STATS. NORTHERN PLAYGROUND: Smithers (above) matches recreational oppor- tunities with its role serving the mineral exploration industry; Prince Rupert (top) is the transcontinental rail terminus closest to Asian markets