BRITISH COLUMBIA MAJOR PROJECTS INVENTORY

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1 Image courtesy of Okanagan Centre of Innovation Okanagan Centre for Innovation is a $35 million development project of a 6 storey technology innovation centre located near the Okanagan Regional Library. The centre will provide 14, sq ft of work space for technology companies, entrepreneurs and students. Funding for the project is being provided by the Kelowna Sustainable Innovation Group and the provincial government ($6 million). BRITISH COLUMBIA MAJOR PROJECTS INVENTORY FIRST QUARTER 217

2 ABOUT THIS REPORT About this Report British Columbia Major Projects Inventory First Quarter 217 Major Projects Inventory as of March 31, 217 Publisher: Labour Market and Information Division, Ministry of Advanced Education, Skills and Training Major projects data collection and highlights by Rene Corcoran, Research Contractor Report prepared by Labour Market and Information Division staff While information sources are checked regularly, the Government of British Columbia and its contractors are not responsible for any errors or omissions in this publication. Statistics Canada data referenced in this report are reproduced and distributed on an "as is" basis with the permission of Statistics Canada. Copyright Province of British Columbia, 217. All rights reserved. About this Report The presentation of the B.C. Major Projects Inventory (MPI) report has been redesigned to include broad construction trends and current economic activities since the first quarter of 217 issue. The objectives of this report are to analyze the updates to the MPI and to provide additional context on changes to economic conditions and construction activities. These snapshots of current economic activities are provided to help readers to form expectations of the construction activities into the next quarter. Note that the economic indicators are based on the most recent data available during the preparation of this report, not based on what would have been available in March 217. The detailed project listings are no longer included in this report since they are available in the searchable Excel database which is published on the MPI website ( together with this report. Feedback on the report redesign should be addressed to Grace Lee Labour Market Information Office (LMIO). Q1 217 British Columbia Major Projects Inventory

3 TABLE OF CONTENTS Contents About the Major Projects Inventory 1 1. B.C. Major Projects Highlights Q B.C. Major Projects Inventory Q British Columbia s Economy 1 4. B.C. Demographics Regional Summaries Vancouver Island/Coast Region Mainland/Southwest Region Thompson Okanagan Region Kootenay Region Cariboo Region North Coast Region Nechako Region Northeast Region 52 Appendices 57 Appendix 1 57 Appendix 2 58 Appendix 3 59 Appendix 4 6 Appendix 5 6 B.C. Government Contact 61 Q1 217 British Columbia Major Projects Inventory

4 ABOUT THE MAJOR PROJECTS INVENTORY About the Major Projects Inventory The B.C. Major Projects Inventory (MPI), published quarterly, provides summary information on major projects in the Province of British Columbia. The MPI includes a listing of private and public sector construction projects in B.C. with an estimated capital cost of $15 million (Cdn.) or greater ($2 million or greater within the Lower Mainland Vancouver area). Approximately two thirds of existing projects receive an update each quarter. New projects are added to the list every quarter. Projects on hold for longer than two years are removed from the publication. Completed projects are removed from the list in the following quarter. Information collected in the MPI includes: Project identification Project status Project size Other project characteristics Project name, description, specific and regional location, geographic coordinates, developer, contact information, project type and project category Proposed, under construction, completed, or on hold Proposed stages Start and completion dates (if available) Update activity on project status Environmental assessment stage Estimated capital cost (if available) Construction type, construction subtype, public sector projects, clean energy projects and/or green (i.e. LEED) building projects, First Nations agreements, the number of construction jobs and operating jobs. While every effort is made to maintain a comprehensive project list that includes the most current publicly available information, it is important to note that projects are constantly added and re evaluated by industry. Not all major projects are included in the MPI. Projects must be known to be included, and some project information is not published due to confidentiality requirements. Sources of MPI Informa on Information sources include print and electronic media, developers, architects, general contractors, and government agencies (provincial, regional, municipal) as well as occasional site visits. Projects that are under consideration or proposed to be funded by the provincial government may be listed where there is public information about such projects. The description may indicate the status of provincial funding applications if such information is publicly available. Project Loca on Projects are listed within the eight economic development regions: Vancouver Island/Coast, Mainland/Southwest (Vancouver area), Thompson Okanagan, Kootenay, Cariboo, North Coast, Nechako, and Northeast. A map showing the location of the regions and main population centres is included in the regional sections of the MPI. Projects are also listed according to the nearest population centre, which could be an unincorporated centre or a local government (e.g., a municipality). Q1 217 British Columbia Major Projects Inventory Page 1

5 ABOUT THE MAJOR PROJECTS INVENTORY Es mated Cost Cost estimates are general estimates from the information sources used and are not necessarily produced in a consistent manner. The estimated costs are revised when new information is available. All estimates are recorded in millions of dollars. Start and Finish Dates Start and finish dates for proposed projects are based on estimates from the sources used, or in some cases, reasonable assumptions. These dates are revised as new information becomes available. Project Status Projects are listed by status: proposed, under construction, completed, or on hold. Projects that are on hold for longer than two years are normally removed from the publication (although retained in our database). Cancelled projects are noted in the project description as cancelled and noted in a new field Update Activity as cancelled removing next issue. Cancelled projects and completed projects in this quarter will be removed from the next issue of the MPI. Changes to project status are based on public information releases and/or information supplied by project proponents. Sustainable Building Design Information on sustainable building design is identified as well as construction projects that are registered and certified under a recognized green building rating system (e.g., Leadership in Energy and Environmental Design (LEED ), Green Globes). LEED buildings provide an environmentally responsible standard for energy efficiency in the home and workplace. This designation has been added to the project description to promote awareness of the benefits of green buildings. First Na ons Affilia on Information related to First Nations involvement in projects is based on news releases and published project information that is publicly available. The information is consistent with the information maintained in the First Nations Economic Development Database (FNEDD; New data concepts added to this issue are as follows: Construc on Type Projects are grouped by five industry standard construction types: a.) commercial; b.) residential; c.) industrial; d.) infrastructure; and, e.) institutional. Construc on Subtype Projects are also grouped by construction subtypes. There are 21 construction subtypes within the five industry standard construction types. The classifications for the construction subtypes are included in section 14 of definitions of key terms. Note that the construction subtype replaces the field of Industry Construction Classification previously used. Q1 217 British Columbia Major Projects Inventory Page 2

6 ABOUT THE MAJOR PROJECTS INVENTORY Project Category Projects Category listed the seven industrial categories: a.) manufacturing; b.) mining, oil and gas extraction; c.) other services; d.) public services; e.) residential or commercial; f.) transportation and warehousing; and, g.) utilities (including sewage treatment) Environmental Assessment Stage The stages of environmental assessment for each project undergoing review under the B.C. Environmental Assessment Act are added to this issue. La tude and Longitude Fields Latitude and longitude in the format of Degrees minutes seconds (DMS) are now added. Telephone Contact number of the project developer or representative. Update Ac vity Readers can search for and select projects based on the following seven criteria: a.) new proposed projects; b.) project started construction; c.) cancelled removing next issue; d.) project added under construction; e.) project completed removing next issue; f.) project placed on hold; and, g.) project removed from hold. Q1 217 British Columbia Major Projects Inventory Page 3

7 B.C. MAJOR PROJECTS HIGHLIGHTS Q B.C. Major Projects Highlights Q1 217 This issue of the B.C. Major Projects Inventory lists 34 new proposed projects over $15 million (M) for the first quarter of 217, with available capital cost estimates totaling approximately $2. billion (B) in potential new capital investment, if all the projects proceed. In comparison, the total cost for new potential projects in the fourth quarter of 216 was $845 M. The total estimated capital cost of all 938 major projects decreased slightly in the first quarter of 217, totaling $436.3 B, down slightly from $436.9 B in the fourth quarter of 216. Note that the total capital cost is the combined estimated value of projects identified as proposed, construction started, completed, and on hold. There are 34 projects currently under construction in B.C., representing an estimated capital cost of $75.3 B, up slightly from the $75.1 B reported in the fourth quarter of 216. Twenty seven projects completed construction in the first quarter, with an estimated capital cost of $1.3 B compared to $2.9 B in the fourth quarter of 216. The largest project is the $5 M Trump International Hotel in Vancouver, followed by the $72 M Big Bend Substation in Burnaby. The available capital cost of proposed projects is estimated at $325. B, no change from the previous quarter. Approximately $34.7 B of projects are judged to be on hold for the time being, an increase from $33.6 B in the previous quarter. Many major project proposals listed are in very preliminary stages and are not approved for construction, therefore capital cost estimates should be viewed with caution. All capital costs in this report are estimates and therefore subject to change. This is particularly applicable in the early stages of a project proposal. Some capital costs are not included because they were not available at press time or the developer or owner requested that no capital cost be shown. Figure 1 B.C. MPI Highlights 938 Number of total major projects $436.3B Value of all projects 483 Number of total proposed projects $325. B Value of proposed projects 34 Number of projects under construction $75.3 B Value of projects under construction 27 Number of projects completed $1.3 B Value of projects completed 34 Number of new proposed projects $2. B Value of newly proposed projects Q1 217 British Columbia Major Projects Inventory Page 4

8 B.C. MAJOR PROJECTS INVENTORY Q B.C. Major Projects Inventory Q1 217 By Project Category, Construction Type or Subtype Exhibit 2.1 Estimated Cost Trends in B.C. Major Projects, by Project Category ($ M) Project Category Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Mining, Oil & Gas Extraction 196,81 21,272 21,342 21,53 21,55.% 2.4% Residential/Commercial 72,824 72,683 72,74 71,287 7,768.7% 2.8% Transportation & Warehousing 72,767 69,88 68,755 68,974 67, % 7.2% Manufacturing 36,454 36,454 36,425 36,425 36,425.%.1% Utilities 4,212 4,251 38,946 38,819 38,887.2% 3.3% Public Services 8,31 7,753 8,341 8,123 9, % 1.3% Other Services 11,687 11,752 11,763 11,779 11, % 1.9% Grand Total 439,55 439, , , ,257.2%.6% 8, 6, 4, 2, Q1 28 Q3 28 Q1 29 Q3 29 Q1 21 Q3 21 Q1 211 Q3 211 Q1 212 Q3 212 Q1 213 Q3 213 Q1 214 Q3 214 Q1 215 Q3 215 Q1 216 Q3 216 Q Manufacturing Residential/Commercial Utilities (incl sewage treatment) Public Services Transportation & Warehousing ; exclude mining & oil & gas extraction projects to see The total estimated capital cost of major projects in B.C declined slightly in the first quarter of 217 (Q1), totalling $436.3 B, representing a.2% decline over the previous fourth quarter of 216. The total capital cost includes value of projects under proposed, construction started, completed and on hold. In Q1 217, the project value increased significantly in public services (+12.7%), with an addition of $1.2 B from new projects. The top 4 new proposed projects are Royal Inland Hospital Patient Care Tower ($417 M), Abbotsford Courthouse ($14 M), Mills Memorial Hospital ($12 M), and Vancouver General Hospital Operating Room Renewal (Phase 1; $12 M). The decline in transportation & warehousing project value resulted from the removal of projects completed in the previous quarters. Q1 217 British Columbia Major Projects Inventory Page 5

9 B.C. MAJOR PROJECTS INVENTORY Q1 217 Exhibit 2.2 Major Projects Status in B.C., by Construction Subtype ($ M) Oil and Gas Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office $29.4 B 1, 2, 3, 4, 5, 6, Completed Construction started On hold Proposed Estimated Capital Cost ($ million) Note: See Appendix 4 for the data underlying this chart. Almost half of the estimated capital cost in the major project inventory is represented by proposed Oil and Gas projects most of which are related to LNG. Northeast British Columbia (NEBC) Expansion Project ($235 M), a 16 km natural gas transmission pipeline has started construction in Q Residential and Commercial development projects comprise 51 of the 938 projects listed in the first quarter of 217, representing a total estimated capital cost of $83 B in the inventory. Residential projects are concentrated in the Mainland/Southwest regions (55%), Thompson Okanagan (19%), and Vancouver Island (17%). Trump International Hotel and Residential Development in West Georgia ($5 M) has been completed in Q1 217 which will be removed from the Accommodation or Commercial category in the following quarter. There are 62 mining projects listed in the MPI with a total estimated value of $38.2 B. North Coast region had the highest share in Mining projects cost (51%), followed by the Nechako region (16%) and the Northeast region (11%). Two newly proposed projects are added to Mining in Q1 217 in the Kootenay region: Kootenay West Mine ($2 M) and Michel Creek Coking Coal Project. Utility projects continue to be a significant driver for the province. The total cost of utilities projects amounts to $38.9 B while the total cost of projects which are currently underway is $14 B. In Q1 217, there are 5 utilities projects completed in the Mainland/Southwest region and Thompson Okanagan region with a total estimated cost of $287 M. Two newly proposed utitlities projects added to Thompson Okanagan in the same quarter: SEKID/SOMID Water Supply project ($64 M) and Rose Valley Water Treatment Plant ($49 M). An office building in the Mainland/Southwest region and Avanti Kitsault Mine Project in the North Coast region have been placed on hold in Q The top three components of new projects added to the inventory in Q1 217 are Health (35%), Education (16%), and Primarily Residential Single Use (15%). Q1 217 British Columbia Major Projects Inventory Page 6

10 B.C. MAJOR PROJECTS INVENTORY Q1 217 Exhibit 2.3 Estimated Cost of Regional Major Projects, by Construction Type and Subtype ($ M) Construction Type & Subtype Residential Subtotal: Primarily residential Vancouver Island/ Coast Mainland/ Southwest Thompson Okanagan Kootenay Cariboo North Coast Nechako Northeast Total 11,17 26,968 1, ,695 8,17 18,4 8, ,317 Mixed use 3, 8,928 1,45 13,378 Commercial Subtotal: 2,611 18,799 5,664 4,92 1, ,948 Mixed use 362 3,56 3,922 Accommodation 316 4,84 3,299 2, ,697 Recreation 21 6,731 2,235 2, ,856 Retail 883 1, ,464 Office ,277 Warehousing 6 6 Other Commercial Industrial Subtotal: ,672 32,43 2,83 1,864 3,246 7, ,128 6,296 22, ,349 Mining ,834 3,36 2,646 19,618 6,296 4,314 38,247 Oil & Gas 32, 2,593 4,57 16,45 14,64 213,677 Manufacturing Wood Products Manufacturing Petrochemical Other Manufacturing Institutional & Government Subtotal: , 4, 36, ,773 3,865 1, ,254 Education 1,689 2, ,62 Health 66 1,411 1, ,26 Government buildings Other Institutional & Government Infrastructure Subtotal: 1, , ,625 18,31 3, ,89 6, ,366 56,11 Utilities 8,598 6,142 2, ,27 4, ,39 38,887 Roads & Highways Other Transportation Other Infrastructure 356 6,241 1, ,33 1,654 5, ,325 8, Grand Total 6,519 7,466 22,533 9,135 1, ,597 7,182 37,34 436,257 Q1 217 British Columbia Major Projects Inventory Page 7

11 B.C. MAJOR PROJECTS INVENTORY Q1 217 By Project Status Exhibit 2.4 Estimated Cost Trends in B.C. Major Projects, by Project Status ($ M) Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 329, ,13 325, , ,973.1% 1.3% Construction started 77,44 77,964 76,69 75,64 75,282.3% 2.8% Completed 1, ,188 2,927 1, % 22.6% On hold 31,22 34,238 33,483 33,621 34, % 11.1% Total 439,55 439, , , ,257.2%.6% The value of completed projects rose 23 percent to $1.3 B in the Q1 217 over the previous year. Notable projects completed were Skytrain Trump International Hotel and Residential Development West Georgia ($5 M), Prison Facility Expansions ($78 M), and Big Bend Substation ($72 M). Exhibit 2.5 Summary of B.C. Major Projects (by Project Status) Estimated Capital Cost ($M) Percentage of Total Number of Projects Average Project Value ($ M) Average Years in Inventory Proposed 324,973 74% Preliminary/Feasibility 74,264 17% Consultation/Approvals 2,432 46% Permitting 11,424 3% Tender/Preconstruction 5,641 1% Stage Unknown 33,212 8% On Hold 34,661 8% Construction Started 75,282 17% Completed 1,341 % Total 436,257 1% Note: Average project value is the average of those projects for which there is a cost estimate. An average year in inventory is the average time span between the projects as first recorded in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 8

12 B.C. MAJOR PROJECTS INVENTORY Q1 217 Development Region Vancouver Island/Coast Mainland/ Southwest Thompson Okanagan Exhibit 2.6 Estimated Cost of Regional Major Projects, by Project Status ($ M) Proposed Construction started Completed On Hold Total Total change from the previous quarter Total change from the previous year 45,898 11, ,571 6,519.1% 1.3% 35,19 31,367 1,99 2,981 7,466 2.% 2.3% 5,17 14, ,32 22, % 1.2% Kootenay 2,332 3,643 3,16 9,135.2%.3% Cariboo 8, ,343 1,485.4% 1.5% North Coast 21,926 1,99 15, ,597.%.1% Nechako 4, ,335 7,182.%.% Northeast 21,621 12,52 3,667 37,34.2%.1% Total 324,973 75,282 1,341 34, ,257.2%.6% 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, Exhibit 2.7 Estimated Cost Trends in B.C. Major Projects ($ M) Started Proposed Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold Q1 217 British Columbia Major Projects Inventory Page 9

13 BRITISH COLUMBIA S ECONOMY 3. British Columbia s Economy Exhibit 3.1 Economic Activity 217f 218f 219f 22f 221f Real GDP +2.1 % +2.1 % +2. % +2. % +2.% Source: B.C. Budget and Fiscal Plan 217/18 219/2 Most Recent Period Amount Change from previous month Change from previous year Data Type Retail trade ($ M) Mar 17 6, % +8.9% seasonally adjusted Manufacturing Sales ($ M) Mar 17 3, % +4.7% seasonally adjusted Residential building permits ($ M) Apr % 7.4% seasonally adjusted Residential housing starts (units) May 17 48, % +32.5% seasonally adjusted at annual rates Non Residential building permits ($ M) Apr % +24.% seasonally adjusted Exports all merchandise ($ M) Apr 17 3, % +9.2% seasonally adjusted Prices B.C. Consumer price index (22=1) Apr % +2.1% Exchange rate May 17 US $ % 4.9% Average 5 year residential mortgage rate May % p.p...1 p.p.. Labour Market Employment May 17 2,466,6 +.5% +4.2% seasonally adjusted Unemployment rate May % +.1 p.p...5 p.p.. seasonally adjusted Participation rate May % +.4 p.p p.p.. seasonally adjusted Average weekly earnings May %. +1.9% seasonally adjusted Source: Statistics Canada & Bank of Canada Note: p.p. is percentage point, used here to show the difference between two percentage rates. Q1 217 British Columbia Major Projects Inventory Page 1

14 BRITISH COLUMBIA S ECONOMY Exhibit 3.2 Key Commodity Prices US$ Index (Jan 211=1) May 12 Aug 12 Nov 12 Feb 13 May 13 Aug 13 Nov 13 Feb 14 May 14 Aug 14 Nov 14 Feb 15 May 15 Aug 15 Nov 15 Feb 16 May 16 Aug 16 Nov 16 Feb 17 May 17 Natural Gas (Henry Hub) Forestry Oil (WTI) Source: Forestry from Bank of Canada, Natural Gas and Oil from U.S. Energy Information Administration The foresty price index has been at elevated levels for the last four months, falling 1.4 percent in May 217 but is still 14.7 percent higher than a year ago. While the Henry Hub natural gas price index increased 1.7 percent to US$3.15/mmBTU, 64.3 percent higher than a year ago. The West Texas Intermediate Oil Price decreased by 5 percent to US$48.49/bbl and 3.8% higher than last year May 12 Aug 12 Nov 12 Feb 13 May 13 Aug 13 Nov 13 Feb 14 May 14 Aug 14 Nov 14 Feb 15 May 15 Aug 15 Nov 15 Feb 16 May 16 Aug 16 Nov 16 Feb 17 May 17 Copper Gold Met. Coal Source: B.C. Ministry of Energy and Mines Met. Coal: quarterly Average to March 216, average of daily after March 216 Metallurgical coal dropped 3.7 percent in May 217 but is still 91.1 percent higher than a year ago. The price of gold fell by 1.6 percent in May 217, while the price for copper declined by 1.9 percent. Q1 217 British Columbia Major Projects Inventory Page 11

15 BRITISH COLUMBIA S ECONOMY Exhibit 3.3 Value of Building Permits 1,2, Monthly Value ($') Seasonally Adjusted 1,, 8, 6, 4, 2, Source: Statistics Canada Apr 12 Apr 13 Apr 14 Apr 15 Apr 16 Apr 17 Residential (x 1,) Non residential (x 1,) 6 months moving average ( Residential) 6 per. Mov. Avg. (Non residential (x 1,)) Value of residential building permits remain at heightened levels, while non residential building permits show an uptick in April 217. Q1 217 British Columbia Major Projects Inventory Page 12

16 BRITISH COLUMBIA S ECONOMY 1,2, Exhibit 3.4 Investment in Non Residential Building Construction 1,, 8, 6, 4, 2, Q1 212 Q2 212 Q3 212 Q4 212 Current Dollars ($ `) (seasonally adjusted) Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional and governmental Source: BC Stats Investment in non residential buildings slightly increased.1 percent during the first quarter of 217, reaching $1.2 B. The current level of non residential construction investment is near the 5 year low level posted in Q Number of Starts (monthly, seasonally adjusted at annual rates) Exhibit 3.5 B.C. Housing Starts 5, 45, 4, 35, 3, 25, 2, 15, May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14 May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 Actual Housing Starts 6 mth moving average Source: Canada Mortgage and Housing Corporation (CMHC) Note: All housing starts are the sum of the major centres with populations in excess of 1,. B.C. s housing starts remain at elevated levels compared to the past. The six month moving average of housing starts gained 459 units in May 217, a 1.2 percent increase over the previous month but a 2.5 percent drop over May 216. Q1 217 British Columbia Major Projects Inventory Page 13

17 BRITISH COLUMBIA S ECONOMY Exhibit 3.6 B.C. Construction Industry Employment Labour Force & Employment (', 3 mth moving average) Unemployment Rate (%, 3 mth moving average) 15 May 1 May 11 May 12 May 13 May 14 May 15 May 16 May 17 Labour Force Employment Unemployment Rate ( Right Scale) Source: Statistics Canada; North American Industry Classification System (NAICS 23), not seasonally adjusted In May 217, employment grew faster than labour force on a year over year basis in B.C. s construction industry. Both employment levels and labour force grew by.9 percent over the previous month. The unemployment rate remained relatively unchanged at 5.1 percent in the same time frame for B.C. s construction industry. Exhibit 3.7 Manufacturing Sales 4.2 Monthly $ Billions (Seasonally Adjusted) Mar 12 Mar 13 Mar 14 Mar 15 Mar 16 Mar 17 Manufacturing Sales 3 per. Mov. Avg. (Manufacturing Sales) Source: Statistic Canada In March, B.C. s manufacturing sales climbed up to $3.9B a 2.9% increase from February and a 4.7% increase from March 216. Most major sub industries registered significant growth in sales. Q1 217 British Columbia Major Projects Inventory Page 14

18 4. B.C. Demographics B.C. DEMOGRAPHICS 1,8, 1,6, 1,4, 1,2, 1,, 8, 6, 4, 2, Exhibit 4.1 Population by Age Group Age 4 Age 5 17 Age Age Age Age 65+ Source: BC Stats B.C. s population is estimated at 4.7 million as of July 216. It is expected to grow at a compound annual average rate of 1.2 percent between 216 and 221. Q1 217 British Columbia Major Projects Inventory Page 15

19 5. Regional Summaries Regional Labour Market Statistics May 216 REGIONAL SUMMARIES Employment: 38,6 Employment Growth: 2.% Unemployment Rate: 7.% Employment: 41,5 Employment Growth.7% Unemployment Rate: 6.5% Employment: 81, Employment Growth: 4.4% Unemployment Rate: 7.5% Employment: 258,1 Employment Growth: 5.3% Unemployment Rate: 6.5% Employment: 384,1 Employment Growth: 7.1% Unemployment Rate: 4.8% British Columbia Employment: 2,466,6 Employment Growth: 4.2 % Unemployment Rate: 5.6% Labour Force: 2,612,9 Employment: 1,575,6 Employment Growth: 3.% Unemployment Rate: 5.2% Employment: 72,3 Employment Growth: 7.% Unemployment Rate: 7.7% Note: Employment growth is over the previous 12 months. Data for B.C. at the provincial level are seasonally adjusted. Data for the regions are not seasonally adjusted and are 3 month moving averages. This means that the data at the provincial level are not directly comparable to the regional data, but the data for each region are directly comparable with the other regions. Source: Statistics Canada Q1 217 British Columbia Major Projects Inventory Page 16

20 VANCOUVER ISLAND/COAST REGION 6. Vancouver Island/Coast Region Key Economic Indicators Exhibit 6.1 Population Growth % 4.% 3.% 2.% 1.%.% 1.% 2.% 3.% 4.% 3.98% 4.23%.78%.49%.36%.32% to 19 years 2 to 64 years 65 years and over BC Vancouver Island and Coast Source: BC Stats Exhibit 6.2 Value of Non Residential Building Permits 18, 16, 14, 12, 1, 8, 6, 4, 2, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Current Dollars ($') Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 17

21 VANCOUVER ISLAND/COAST REGION Exhibit 6.3 Value of Residential Building Permits 45, 4, Current Dollars ($,') 35, 3, 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Total Residential Source: BC Stats Exhibit 6.4 Housing Starts 1,6 1,4 1,2 1, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Number of Housing Starts Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q3 216 Q3 216 Q4 216 Q1 217 Source: CMHC Q1 217 British Columbia Major Projects Inventory Page 18

22 VANCOUVER ISLAND/COAST REGION Trends in Major Projects 7, 6, 5, 4, Exhibit 6.5 Estimated Cost Trends in Major Projects ($ M) Vancouver Island/Coast Region 3, 2, Started 1, Proposed Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold In Q1 217, the Vancouver Island/Coast region has a total of 147 major projects with a combined value of $6.5 B, representing a.1 percent increase over the previous quarter and a 1.3 percent drop compared to one year earlier. There are 4 newly proposed projects added to the MPI this quarter. These are Crystal Pool Replacement ($69 M), Highway 1 Malahat Highway Upgrade ($34 M), Camosun College Centre for Health Sciences ($33 M), and Vancouver Island University Health Science Centre. Three major projects completed in this quarter: Sunrise Ridge Waterfront Resort ($3 M), Escher on Broughton Condominium Development ($18 M), and Azzuro Affordable Housing ($17 M). Four major projects began construction in this quarter with total capital costs of $11 M. Customs House Redevelopment in Victoria ($5 M), Jukebox Lofts ($25 M), and Black and White Condominium Development ($2 M) are expected to be completed in 218, and North Courtney Connector in Courtenay is expected to be completed in late 217. Exhibit 6.6 Estimated Cost Trends in Major Projects, by Project Status ($M) Vancouver Island/Coast Region Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 47,453 46,851 45,97 45,895 45,898.% 3.3% Construction started 11,628 11,65 11,878 11,942 11,985.4% 3.1% Completed % 71.5% On hold 1,996 2,746 2,621 2,571 2,571.% 28.8% Total 61,35 61,263 6,687 6,455 6,519.1% 1.3% Q1 217 British Columbia Major Projects Inventory Page 19

23 VANCOUVER ISLAND/COAST REGION Exhibit 6.7 Summary of Major Projects (by Project Status) Vancouver Island/Coast Region Estimated Capital Cost ($ million) Percentage of Total Number of Projects Average Project Value ($ million) Average Year in Inventory Proposed 45,898 76% Preliminary/Feasibility 32,39 7% 17 2, Consultation/Approvals 11,32 25% Permitting 53 % Tender/Preconstruction 2,234 5% Stage Unknown 27 1% On Hold 2,571 4% Construction Started 11,985 2% Completed 65 % Total 6,519 1% Notes: Average project value is the average of those projects for which there is a cost estimate. Average number of years in inventory is the average time span between the entry of the projects in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 2

24 VANCOUVER ISLAND/COAST REGION Exhibit 6.8 Major Projects Status, by Construction Subtype Vancouver Island/Coast Region Oil and Gas $32 B Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office 2, 4, 6, 8, 1, 12, 14, Estimated Capital Cost ($ million) Completed Construction started On hold Proposed Q1 217 British Columbia Major Projects Inventory Page 21

25 MAINLAND/SOUTHWEST REGION 7. Mainland/Southwest Region Key Economic Indicators Exhibit 7.1 Population Growth % 4.% 3.% 2.% 1.%.% 1.% 2.% 3.% 4.% 3.98% 4.42%.78%.78% 1.21%.36% to 19 years 2 to 64 years 65 years and over BC Mainland Southwest Source: BC Stats Exhibit 7.2 Value of Non Residential Building Permits 1,2, 1,, 8, 6, 4, 2, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Current Dollars ($') Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 22

26 MAINLAND/SOUTHWEST REGION Exhibit 7.3 Value of Residential Building Permits 2,5, 2,, 1,5, 1,, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Current Dollars ($') Total Residential Source: BC Stats Exhibit 7.4 Housing Starts 9, 8, 7, 6, 5, 4, 3, 2, 1, 5,838 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Number of Housing Starts Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Source: CMHC Note: The housing starts are the sum of the major centres Abbotsford Mission, Chilliwack, Squamish, and Vancouver. Q1 217 British Columbia Major Projects Inventory Page 23

27 MAINLAND/SOUTHWEST REGION Trends in Major Projects 9, 8, 7, 6, Exhibit 7.5 Estimated Cost Trends in Major Projects ($M) Mainland/Southwest Region 5, 4, Started 3, 2, 1, Proposed Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold In Q1 217, the Mainland/Southwest region has a total of 469 major projects with a combined value of $71.9 B, representing a.7 percent drop over the previous quarter and a 1.4 percent drop compared to one year earlier. There are 18 newly proposed projects added to the MPI this quarter. The top three largest projects are Abbotsford Courthouse ($14 M), Vancouver General Hospital Operating Room Renewal (Phase 1; $12 M), and Ironworks Commercial Development ($9 M). See more new projects in Appendix major projects were completed in this quarter such as Trump International Hotel and Residential Development West Georgia ($5 M), Prison Facility Expansions ($78 M), and Big Bend Substation ($72 M),. See more completed projects in Appendix major projects began construction in this quarter with total capital costs of $1 B. Bridge River 2 Units 5 and 6 Upgrade Project is expected to be completed in Fall 218, followed by Royal Columbian Hospital Redevelopment Phase 1 in 219, and Residential Development and Arena Complex in 22. See more in Appendix 2. Exhibit 7.6 Estimated Cost Trends in Major Projects, by Project Status ($ M) Mainland/Southwest Region Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 34,639 34,376 34,882 34,923 35,19.3% 1.1% Construction started 33,849 34,785 33,144 31,435 31,367.2% 7.3% Completed ,482 2,638 1, % 29.9% On hold 2,823 2,931 2,941 2,941 2, % 5.6% Total 72,157 72,589 72,449 71,937 7,466 2.% 2.3% Q1 217 British Columbia Major Projects Inventory Page 24

28 MAINLAND/SOUTHWEST REGION Exhibit 7.7 Summary of Major Projects (by Project Status) Mainland/Southwest Region Estimated Capital Cost ($ million) Percentage of Total Number of Projects Average Project Value ($ million) Average Year in Inventory Proposed 35,19 5% Preliminary/Feasibility 4,911 14% Consultation/Approvals 19,54 54% Permitting 2,72 6% Tender/Preconstruction 2,639 8% Stage Unknown 6,343 18% On Hold 2,981 4% Construction Started 31,367 45% Completed 1,99 2% Total 7,466 1% Notes: Average project value is the average of those projects for which there is a cost estimate. Average number of years in inventory is the average time span between the entry of the projects in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 25

29 MAINLAND/SOUTHWEST REGION Exhibit 7.8 Major Projects Status, by Construction Subtype Mainland/Southwest Region Oil and Gas Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office 5, 1, 15, 2, 25, 3, 35, Estimated Capital Cost ($ million) Completed Construction started On hold Proposed Q1 217 British Columbia Major Projects Inventory Page 26

30 THOMPSON OKANAGAN REGION 8. Thompson Okanagan Region Key Economic Indicators Exhibit 8.1 Population Growth % 4.% 3.% 3.98% 2.68% 2.% 1.%.% 1.%.36%.38%.78%.29% 2.% 3.% 4.% to 19 years 2 to 64 years 65 years and over BC Thompson Okanagan Source: BC Stats Exhibit 8.2 Value of Non Residential Building Permits 18, 16, 14, 12, 1, 8, 6, 4, 2, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Curretn Dollars ($ ') Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 27

31 THOMPSON OKANAGAN REGION Exhibit 8.3 Value of Residential Building Permits 45, 4, Curretn Dollars ($ ') 35, 3, 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Total Residential Source: BC Stats Exhibit 8.4 Housing Starts 1,4 1,2 1, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Number of Housing Starts Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Source: CMHC Note: The housing starts are the sum of the major centres: Cranbrook, Kamloops, Kelowna, Penticton, Salmon Arm, Summerland, and Vernon. Q1 217 British Columbia Major Projects Inventory Page 28

32 THOMPSON OKANAGAN REGION Trends in Major Projects 35, Exhibit 8.5 Estimated Cost Trends in Major Projects ($M) Thompson Okanagan Region 3, 25, 2, 15, Started 1, 5, Proposed Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold In Q1 217, the Thompson Okanagan region has a total of 19 major projects with a combined value of $22.5 B, representing a 3.1 percent increase over the previous quarter and a 1.2 percent drop compared to one year earlier. 5 major projects completed in this quarter: Trans Canada Hwy Improvements Pritchard to Hoffman s Bluff ($62 M) and Highway 3 Sunday Creek Sunday Summit Realignment ($19 M). See more completed projects in Appendix 3. Exhibit 8.6 Estimated Cost Trends in Major Projects, by Project Status ($ M) Thompson Okanagan Region Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 5,26 4,631 4,586 4,586 5, % 2.9% Construction started 14,718 14,6 14,436 14,161 14,154.% 3.8% Completed % On hold 3,62 4,32 3,32 3,32 3,32.% 1.% Total 22,86 22,813 22,391 21,86 22, % 1.2% Q1 217 British Columbia Major Projects Inventory Page 29

33 THOMPSON OKANAGAN REGION Exhibit 8.7 Summary of Major Projects (by Project Status) Thompson Okanagan Region Estimated Capital Cost ($ million) Percentage of Total Number of Projects Average Project Value ($ million) Average Year in Inventory Proposed 5,17 23% Preliminary/Feasibility 33 6% Consultation/Approvals 3,861 75% Permitting 199 4% Tender/Preconstruction % Stage Unknown 145 3% On Hold 3,32 13% Construction Started 14,154 63% Completed 177 1% Total 22,533 1% Notes: Average project value is the average of those projects for which there is a cost estimate. Average number of years in inventory is the average time span between the entry of the projects in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 3

34 THOMPSON OKANAGAN REGION Exhibit 8.8 Major Projects Status, by Construction Subtype Thompson Okanagan Region Oil and Gas Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office 2, 4, 6, 8, 1, 12, Estimated Capital Cost ($ million) Completed Construction started On hold Proposed Q1 217 British Columbia Major Projects Inventory Page 31

35 9. Kootenay Region Key Economic Indicators KOOTENAY REGION Exhibit 9.1 Population Growth % 4.% 3.% 2.% 1.%.% 1.% 2.% 3.% 4.% 3.98% 3.7%.78%.36%.39%.6% to 19 years 2 to 64 years 65 years and over BC Kootenay Source: BC Stats Exhibit 9.2 Value of Non Residential Building Permits 45, 4, 35, 3, 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Current Dollars ($,') Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 32

36 KOOTENAY REGION Exhibit 9.3 Value of Residential Building Permits 8, Current Dollars ($,') 7, 6, 5, 4, 3, 2, 1, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Total Residential Source: BC Stats Exhibit 9.4 Housing Starts Nelson Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Number of Housing Starts Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Source: CMHC Q1 217 British Columbia Major Projects Inventory Page 33

37 KOOTENAY REGION Trends in Major Projects 12, Exhibit 9.5 Estimated Cost Trends in Major Projects ($M) Kootenay Region 1, 8, 6, 4, Started 2, Proposed Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold In Q1 217, the Kootenay region had a total of 3 major projects with a combined value of $9.1 B, representing a.2 percent increase over the previous quarter and.3 percent increase compared to one year earlier. Exhibit 9.6 Estimated Cost Trends in Major Projects, by Project Status ($M) Kootenay Region Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 2,331 2,331 2,331 2,312 2,332.9%.% Construction started 3,578 3,63 3,623 3,643 3,643.% 1.8% Completed 2 1.% On hold 3,18 3,18 3,16 3,16 3,16.%.6% Total 9,19 9,114 9,114 9,115 9,135.2%.3% Q1 217 British Columbia Major Projects Inventory Page 34

38 KOOTENAY REGION Exhibit 9.7 Summary of Major Projects (by Project Status) Kootenay Region Estimated Capital Cost ($ million) Percentage of Total Number of Projects Average Project Value ($ million) Average Year in Inventory Proposed 2,332 26% Preliminary/Feasibility % Consultation/Approvals 2,332 1% Permitting %. Tender/Preconstruction %. Stage Unknown %. On Hold 3,16 35% Construction Started 3,643 4% Completed %. Total 9,135 1% Notes: Average project value is the average of those projects for which there is a cost estimate. Average number of years in inventory is the average time span between the entry of the projects in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 35

39 KOOTENAY REGION Exhibit 9.8 Major Projects Status, by Construction Subtype Kootenay Region Oil and Gas Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office 5 1, 1,5 2, 2,5 3, 3,5 Estimated Capital Cost ($ million) Completed Construction started On hold Proposed Q1 217 British Columbia Major Projects Inventory Page 36

40 CARIBOO REGION 1. Cariboo Region Key Economic Indicators Exhibit 1.1 Population Growth % 4.% 3.% 2.% 1.%.% 1.% 2.% 3.% 4.% 3.98% 3.39%.36%.78% 1.71% 1.52% to 19 years 2 to 64 years 65 years and over BC Cariboo Source: BC Stats Exhibit 1.2 Value of Non Residential Building Permits 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Current Dollars ($') Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 37

41 CARIBOO REGION Exhibit 1.3 Value of Residential Building Permits 45, 4, 35, 3, Current Dollars ($') 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Total Residential Source: BC Stats Exhibit 1.4 Housing Starts Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Number of Housing Starts Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q3 216 Q1 217 Source: CMHC Note: The housing starts are the sum of the major centres Prince George, Quesnel, and Williams Lake Q1 217 British Columbia Major Projects Inventory Page 38

42 CARIBOO REGION Trends in Major Projects 14, Exhibit 1.5 Estimated Cost Trends in Major Projects ($ M) Cariboo Region 12, 1, 8, 6, 4, Started Proposed 2, Q1 28 Q2 28 Q3 28 Q4 28 Q1 29 Q2 29 Q3 29 Q4 29 Q1 21 Q2 21 Q3 21 Q4 21 Q1 211 Q2 211 Q3 211 Q4 211 Q1 212 Q2 212 Q3 212 Q4 212 Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Proposed Construction Started Construction Completed on Hold In Q1 217, the Cariboo region has a total of 31 major projects with a combined value of $1.5 B, representing a.4 percent increase over the previous quarter and a 1.5 percent increase compared to one year earlier. The newly proposed project Kelly Road Secondary School Replacement ($44 M) is added to the MPI this quarter. College of New Caledonia Heavy Mechanical Trades Centre began construction in this quarter with total capital costs of $15 M and is expected to be completed in spring 218. Exhibit 1.6 Estimated Cost Trends in Major Projects, by Project Status ($M) Cariboo Region Status Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Change from the previous quarter Change from the previous year Proposed 8,467 8,467 8,542 8,617 8,646.3% 2.1% Construction started % 3.3% Completed 4 On hold 1,383 1,383 1,343 1,343 1,343.% 2.9% Total 1,33 1,33 1,46 1,441 1,485.4% 1.5% Q1 217 British Columbia Major Projects Inventory Page 39

43 CARIBOO REGION Exhibit 1.7 Summary of Major Projects (by Project Status) Cariboo Region Estimated Capital Cost ($ million) Percentage of Total Number of Projects Average Project Value ($ million) Average Year in Inventory Proposed 8,646 82% Preliminary/Feasibility 1,692 2% Consultation/Approvals 6,85 79% Permitting %. Tender/Preconstruction 56 1% Stage Unknown 93 1% On Hold 1,343 13% Construction Started 496 5% Completed %. Total 1,485 1% Notes: Average project value is the average of those projects for which there is a cost estimate. Average number of years in inventory is the average time span between the entry of the projects in the MPI and the current period. Q1 217 British Columbia Major Projects Inventory Page 4

44 CARIBOO REGION Exhibit 1.8 Major Projects Status, by Construction Subtype Cariboo Region Oil and Gas Residential Utilities Mining Manufacturing Accommodation Recreation Roads & Highways Other Infrastructure Retail Education Health Government & Other Institutional Warehousing & Other Commercial Office 5 1, 1,5 2, 2,5 3, 3,5 4, 4,5 5, Estimated Capital Cost ($ million) Completed Construction started On hold Proposed Q1 217 British Columbia Major Projects Inventory Page 41

45 11. North Coast Region Key Economic Indicators NORTH COAST REGION Exhibit 11.1 Population Growth % 4.% 3.% 2.% 1.%.% 1.% 2.% 3.% 4.% 3.98% 1.28%.36%.78% 2.37% 3.33% to 19 years 2 to 64 years 65 years and over BC North Coast Source: BC Stats Exhibit 11.2 Value of Non Residential Building Permits 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Current Dollars ($') Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Industrial Commercial Institutional & Govermental Total Non Residential Source: BC Stats Q1 217 British Columbia Major Projects Inventory Page 42

46 NORTH COAST REGION Exhibit 11.3 Value of Residential Building Permits 25, Current Dollars ($') 2, 15, 1, 5, Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Total Residential Source: BC Stats Exhibit 11.4 Housing Starts North Coast Q1 213 Q2 213 Q3 213 Q4 213 Q1 214 Q2 214 Number of Housing Starts Q3 214 Q4 214 Q1 215 Q2 215 Q3 215 Q4 215 Q1 216 Q2 216 Q3 216 Q4 216 Q1 217 Source: CMHC Note: The housing starts are the sum of the major centres Prince Rupert and Terrace. Q1 217 British Columbia Major Projects Inventory Page 43