Surprising Facts about BC’s Construction Industry
B.C’s construction industry has built the province, literally. From homes to commercial offices to community centres, construction and development companies, big and small, are responsible for building our province’s infrastructure as well as strengthening our economy. Every year, the British Columbia Construction Association dishes out statistics on its industry, and there are some pretty crazy numbers in their latest stat pack.
Quick Stats on the Industry
Given that the industry contributes to 8.7% of BC’s GDP, these numbers shouldn’t be surprising, but it’s helpful to remember just how valuable construction companies in Vancouver and across the province are to the economics of the province.
- Over 25,000 construction companies
- $261 billion of proposed construction projects
- $114 billion: value of current construction projects in B.C
- 8.7% of BC’s GDP comes from construction
Biggest Companies Getting Bigger in 2018
These numbers show no sign of falling in the near future. B.C’s top construction companies have been experiencing massive growth in recent years. On average, the top 20 construction companies grew 13.4% to $212.5 million in 2018 from $187.3 million in 2017, according to a report by Business in Vancouver.
The top 5 companies according to BIV in 2018 were:
|Wales McLelland Construction||UBC Integrated Research Library, IKEA Coquitlam)|
|Metro-Can Construction||False Creek Community Centre, various high-rise residential buildings in the Lower Mainland|
|Ledcor Group of Companies||BCIT Richmond Aerospace Technology Campus, Art Gallery of Alberta)|
|PCL Constructors Westcoast Inc||BC Place Revitalization, Alex Fraser Bridge|
|Axiom Builders Inc||Translink Head Office, Dalina|
The company with the largest five-year growth as of 2018 was Wales McLelland Construction, increasing its total B.C. billing by 136 per cent to $185 million in 2018 from $78.4 million in 2014. Axiom Builders was a runner-up with a 124 per cent growth in five years.
As of 2019, the top 5 construction companies in B.C according to Business in Vancouver are:
Notable Recently Completed Projects
Total B.C Billings (2018/2017)
|Kiewit Canada Group||Not provided||$781,167
|Ledcor Group of Companies||Teck Acute Care Centre at BC’s Children Hospital, UBC Central Site B||$700,000
|Axiom Builders Inc||RiverSky condo towers, Encore condo tower||$510,000
|PCL Constructors Westcoast Inc||The Exchange office tower, Whitehorse General Hospital expansion||$354,342
|EllisDon Corp||Parq Vancouver, Emily Carr University of Art and Design||$337,000
Almost all the companies above saw higher revenues in 2018 compared to 2017.
More Workers Needed
As the biggest construction companies get even bigger in the coming years, the need for skilled labour is more urgent than ever.
The BCCA predicts that there will be 7,900 unfilled construction jobs in BC due to labour shortages by 2028.
With several, upcoming major projects including the Site C Dam, LNG Canada and Coastal GasLink pipeline, Business in Vancouver predicts that 10,000 to 11,000 workers will be needed in B.C over the next two years to see these developments to completion.
With more new developments in the works and steadily growing construction companies, the B.C skilled labour workforce will need to see significant growth in order to meet the demand.