The Pacific Northwest market region, encompassing the U.S. states of Oregon and Washington and the Canadian province of British Columbia, has one of the highest concentrations of industrial project spending in North America. More than 640 major industrial projects in the region are currently planned to begin construction in 2008 or beyond. These projects total more than $92 billion in total investment value. In 2008, there are 222 projects totaling $17 billion that have either already started construction or are scheduled to begin construction before the end of the year.
Click on the image at right to view a breakdown of project spending for the Pacific Northwest.Despite the recent economic downturn, industrial project spending is forecast to remain strong in the Pacific Northwest in 2009 and 2010. In 2009, 221 projects totaling $27 billion are planned, and in 2010, 123 projects totaling $29 billion are planned. Beyond 2010, there is an additional $19 billion planned.
The Power and Metals & Minerals industries account for 72 percent of the planned spending in the Pacific Northwest. In British Columbia, a large number of mining projects are under development. Construction began in 2008 on a $592 million project to restart copper and gold ore mining at the New Afton mine near Kamloops, British Columbia. AMEC (Vancouver, British Columbia) is providing engineering and construction services for the project, which will include a 1.4 million-ton-per-year underground mine and an expansion of an existing concentrator to 11,000 tons per day. The project is owned by New Gold Incorporated (Vancouver). Completion is scheduled for the fourth quarter of 2009. Other major mining projects that began construction this year in British Columbia include projects by Adanac Molybdenum Corporation (Surrey, British Columbia), Thompson Creek Metals Company Incorporated (Toronto, Ontario) and Teck Cominco Limited (Vancouver).
British Columbia accounts for 58 percent of the spending with 249 projects totaling $53 billion. Oregon has 178 projects totaling $20 billion, and Washington has 222 projects totaling $19 billion. In the U.S., wind power is sweeping Oregon and Washington. More than $1.3 billion worth of new windfarm construction began in 2008, including projects by Arlington Wind Power Project LLC, Portland General Electric Company (Portland, Ore.), Wheatfield Wind Power Project LLC and Windy Point Partners LLC.
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