Pd Prosperity Discussion

New Economic Report Confirms Monumental Benefits of New Prosperity

New Prosperity Team says:

Executive Summary of the 2011 Centre for Spatial Economics Report on New Prosperity The New Prosperity project, the 7th largest undeveloped gold-copper porphyry deposit in the world, represents an initial capital investment of $1 billion and includes a $300 million commitment to limit environmental impacts and preserve Fish Lake. Using a macroeconomic model of the British Columbia economy, in October of 2011 The Centre for Spatial Economics (C4SE) reviewed the project starting with a construction period beginning in 2013 and ending with the closure of the mine in 2036. The C4SE report reveals that the development of New Prosperity will act as a significant long term economic stimulus to the Cariboo-Chilcotin Region, British Columbia, and Canada as a whole. Specifically it is estimated the construction and operation of the New Prosperity over the period 2013 to 2036 will result in the following: • A direct expenditure by Taseko Mines of $1.5 billion • Generate production revenues in excess of $11.0 billion. • Increase employment in BC by 71,000 • An increase in Real GDP of $11.0 billion • On a per capita basis this GDP increase is $2,200 • Consumer spending will increase in BC by $9 billion • Residential investment expenditure increase by $786 million • Non-residential construction investment increases by $1.03 billion • Investment in machinery and equipment (by others) increases by $1.38 billion • The population of BC rises by 5,400 • Disposable income per household in BC rises $1,157 • Federal government revenues rise by $4.30 billion • Provincial government revenues rise by $5.52 billion

October 18, 2011 at 12:32 pm

7 comments so far. Sort by:

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  1. Brad McGuire says:

    The communities of the Cariboo Chilcotin are in economic survival mode. Forestry, the staple resource industry for decades in the area, is dying and will never recover to past economic revenue generating glory. Skilled workers have left the region and we now face a skilled worker shortage. Mining has been a secondary resource industry in the region also for decades. The facts are in front of us, from both sides. Now is the time to transform our communities and our region. The Prosperity project, as it now is proposed, will have incredible economic benefit for generations to come, while clearly addressing the environmental impacts. "Adventure Tourism" is an incredibly growing industry and our region is in the infancy stage of taking advantage of this industry and the riches (mountain biking, hiking, eco-tourism opportunities) and benefits which we may yet reap. I believe tourism can work closely with mining to ensure we ALL can be happy from both an environmental and economic perspective. Let's get on with it. To be frank, I would like to hear more comments from the First Nation peoples themselves, rather than their elected officials who do not necessarily speak for the individual FN peoples who are so economically depressed. It's time to speak out, or your way of life may be gone…forever, and very soon.

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    October 19, 2011 11:26 am
  2. Prag says:

    Everything is really open and really clear explanation of problems. was truly details. Your site is extremely useful. Many thanks for sharing.

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    October 25, 2011 11:36 am
  3. Robert L. says:

    I am an ex-resident to Williams Lake and I am always hearing about this "long term" job creation that Prosperity will bring to the area. As much as I know this project will help the economy now, after 2036 will the caribou not be facing the exact same problems they face now? I know it is a hard thing for residents in the area to accept but it is possible that Williams Lake may just not be able to sustain the growth it once did. An example of this is the town of Ocean Falls, which "was the home to around 3900 people, one of the province's largest hotels and now has a year round population of around 60 people.There are many other examples of boom/bust towns around the province. I just feel 23 years of jobs is not worth the permanent damages to both the environment and tourism in the area.

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    January 26, 2012 10:21 pm
  4. New Prosperity Team says:

    Given the volatility of the job market generally, any 20+ year commitment to providing stable employment in an industry with exceptionally competitive wages is a sound prospect. Mining creates a skilled labour force with highly transferable skills that can be employed across and number of projects and industries. Moreover, major resource development projects like New Prosperity encourage significant investment in the region, helping to create an overall thriving economy. Government revenues, meanwhile, are reinvested in social programming that benefits everyone. In terms of environmental impact, a detailed account of mitigation measures can be found in the New Prosperity Project Description, available for download on this site. The project is currently undergoing a panel review at the hands of our nation's environmental authority, the Canadian Environmental Assessment Agency.

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    January 30, 2012 11:12 am
  5. gus says:

    The above statement clearly shows that the benefits will apply to all canadians, including First Nations people.
    We have the technology to control the environmental impact.
    Lets face it this is miniscule in the scope of things. (compare
    Alberta tar sands) Water quality is the only questionable but
    advances are made almost daily and who knows by the time
    the project is built much better tech. will be applied.
    Get on with it !!

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    March 2, 2012 2:02 pm
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