The Roberts Bank Terminal 2 project would provide benefits to Canada, B.C. and Metro Vancouver as a result of accommodating increased demand for trade, supporting economic growth, creating thousands of well-paying jobs during construction and operation, and providing benefits to neighbouring communities.
In terms of employment, construction of the project would require 12,700 jobs over six years. Operation of the new terminal would provide about 12,400 jobs each year of operation. That number includes approximately 1,000 on-terminal, union jobs!
Port jobs are high-wage positions. The average annual salary across all industries directly related to the Port of Vancouver is nearly $84,400, compared to the average annual Canadian wage of $50,800 (2018 figures).
The proposed terminal would also add millions of dollars to government tax revenues, providing funding for education, health care, social services and other government initiatives.
Here’s how it’s broken down:
During the six-year construction phase, government revenues from taxes paid by construction employers, supplies and project-associated workers would be approximately $300 million. This includes:
- $127 million to the federal government
- $154 million to the provincial government
- $20 million to local government
During operation, average tax payments to the three levels of government by the terminal operator, infrastructure developer, suppliers and project-associated workers would be approximately $42 million each year. This includes:
- $22 million to the federal government
- $13 million to the provincial government
- $7 million to local government
The project would be funded by the port authority and private investment, and that investment would be recouped by the proceeds of the long-term lease to the terminal operator and terminal user fees.
This means the project would benefit Canadians at zero cost to Canadians.