five-year construction phase, during which time our workers, contractors, Indigenous and local communities collaborated to complete Canada’s first pipeline to the west coast in 70 years,” Westover said.
According to TC Energy, the project created more than 25,700 full-time equivalent jobs and took 55 million hours to complete. The project generated $3.2 billion to B.C.’s GDP, some $331 million in tax revenue, and $3.95 billion in spending with B.C. businesses and suppliers. As well, during construction, Coastal GasLink and TC Energy spent over $13 million in community investments and sponsorships to support local and Indigenous community initiatives. Once operating, it is estimated that over $26 million in annual tax revenue will be generated for communities along the pipeline’s path. Even with construction com - ing to an end, local communities will continue to see economic spinoffs. More than $42 million is expected to be generated each year through local economic activity.
“The opportunity was made available to all 20 Indigenous communities holding existing agreements with Coastal GasLink and is an important step on the path to true partnership through equity ownership in the project”
Work will now continue on environmental reclamation and preparing communities and workers for the start of operations.
“These accomplishments mark the end of the project’s
16 SPOTLIGHT MAGAZINE ON BUSINESS MAGAZINE • VOL 23 ISSUE 5
Made with FlippingBook interactive PDF creator