Woodfibre LNG project projected to generate $13.6 billion in economic output

A new economic impact study by Deetken Insight indicates that the Woodfibre LNG project and FortisBC’s Eagle Mountain Pipeline will provide substantial financial benefits to Canada and British Columbia.

Construction activities are expected to contribute nearly $13.6 billion in economic output to the Canadian economy and generate approximately $11.6 billion in government revenue over the construction phase and a planned 40-year operating period. The study estimates that these activities will contribute nearly $7 billion to Canada’s Gross Domestic Product (GDP), generate $3.6 billion in labour income, and support over 52,000 modelled employment-years, representing more than 15,000 direct and indirect jobs.

Of the projected $11.6 billion in government revenue, an estimated $6.8 billion is expected for British Columbia, alongside approximately $485 million in municipal property taxes. Revenue sources include resource royalties, income taxes, carbon tax, property tax, motor fuel tax, and provincial sales tax.