BC Construction Industry - Economic Impact

Now that spring is almost upon us, it is a good time to discuss the BC construction industry and its impact on the local economy. The BC construction sector is responsible for 7% of our GDP and provides employment for one in ten workers in the province. BC construction encompasses everything from large commercial buildings, residential developments and infrastructure upgrades.

This $15 billion dollar (annual) industry has consistently been one of the fastest growing sectors in the economy. Over half of the GDP from BC’s construction sectors comes from retail and commercial building construction. About 16% comes from repairs and the remaining 31% from federal infrastructure projects such as roads and hydroelectric dams.

Fueling this growth is the housing market boom of the past decade. BC’s growing population is increasing the amount of new home construction, along with renovations of existing homes.

Energy projects are a subset of the industrial construction sector, it is estimated that 10% of the province’s construction GDP is driven by oil & gas projects.

The economic impact of the BC construction industry is felt all over the province with new jobs and new opportunities created on a daily basis. So if you operate a construction firm or contracting service, you need top quality equipment to meet your contract demands.

Handlers Equipment recommends the unmatched quality and efficiency of the Hyundai line of construction equipment. Whether you need an excavator, wheel loader or a compaction roller, Hyundai combines outstanding performance with operator comfort and fuel efficiency.

If you are part of the fast growing BC construction industry, we recommend you talk to one of our construction equipment experts to ensure your team is equipped with the best machines available on the market. Be sure to visit our Abbotsford facility to check out our line of used construction equipment, in addition to the brand new Hyundai machines.