The Coastal GasLink project will bring short- and long-term benefits to local communities, British Columbia and Canada.
Through 2013, the project conducted extensive field investigations across the study corridor, making use of a wide range of contractors, suppliers, technicians and support workers. We’re providing a boost to local economies.
The project construction spend is estimated at more than $4 billion. An additional $68 million will be spent mainly in B.C. each year once the pipeline is in operation. This will assist in allowing communities to generate sustainable, long-term capacity and integration of economic, social and environmental objectives.
Through personal taxes and increased buying power that comes from individuals being employed on the project, approximately $1.4 billion additional dollars will be spent back into the local B.C. economy.
The project will provide an estimated $20.88 million a year in property tax benefits in B.C., calculating from current assessment levels. That means more available government funds to address community plans and infrastructure needs, both locally and provincially — for example, fire and police services, school districts, hospital districts and waste management.
A breakdown of the estimated $20.88 million in annual tax payments by regional district is as follows:
- Peace River Regional District – $4.4
- Fraser Fort George Regional District – $4.35
- Bulkley Nechako Regional District – $8.36M
- District of Kitimat – $620K
- Kitimat Stikine Regional District – $3.15M
- Total – $20.88M
The pipeline will also result in tax benefits to support provincial services such as health care and education — through increased natural gas production, and also through industrial activity associated with pipeline operations.
Of the total provincial tax revenues generated over the life of the pipeline, 78% will go to B.C., 10% will go to Alberta, 7% will go to Ontario and 5% to other provinces.
NOTE: This is an estimate using current assessment and taxation policies and rates (ranging from 2.9% to 3.28%). Tax rates are regulated by the B.C. government based on kilometres of pipe, pipe diameter and the yearly tax rates set by each local jurisdiction.