Sustainability: Vancouver (BC)

Vancouver Fraser Port Authority Releases 2016 Economic Impact Study and Sustainability Report

At its recently concluded annual general meeting, the Vancouver Fraser Port Authority released a study of the economic impact in 2016 of the Port of Vancouver on local communities, the provinces and across Canada. A second report describes how economic, environmental and social sustainability are being addressed and measured.

The impact study documents substantial growth in port-related economic activity. Compared with the last report in 2012, economic output from port activities increased by 17 percent from C$4.2 billion to C$24.2 billion and employment from 98,800 to 115,300 jobs.

"This data demonstrates the significant role of Canada’s largest port in the economic prosperity of our country," said Robin Silvester, president and chief executive officer of the Vancouver Fraser Port Authority. "The report shows the meaningful impact of the port to employment and our collective prosperity locally, provincially and nationwide."

Specifically, the study determined that activities of Port of Vancouver terminals and tenants annually generate:

•    C$24.2 billion in economic output

•    C$11.9 billion in GDP

•    C$7 billion in wages

•    115,300 jobs in Canada

•    96,200 jobs in British Columbia

•    C$67,900 average wage for direct job (versus C$44,000 average wage in Canada)

•    C$1.4 billion per year in tax revenues: federal: C$860 million; provincial: C$441 million; municipal: C$129 million

The port authority’s 2016 sustainability report covers the most significant economic, environmental and community impacts and opportunities for the port across 10 areas of focus, such as strategic investment and asset management, healthy ecosystems and Aboriginal relationships. The port authority has been reporting on its sustainability work since 2011, and last year announced its goal of becoming the world’s most sustainable port.

"A year after announcing our vision, we are continuing to see progress in each of our three pillars of sustainability," said Mr. Silvester. "We are proud of the work we are doing to accommodate Canada’s trade needs, while at the same time maintaining a healthy environment and enabling thriving communities. We look forward to continuing our work towards a lower carbon economy while we enable growth and economic prosperity through trade."