Terrace, BC Overview Terrace, BC is located in the British Columbia (BC) province's North Coast development region and ...
Terrace, BC Overview
Terrace, BC is located in the British Columbia (BC) province's North Coast development region and has a population of roughly 11,500 people, which is relatively high for the sparsely populated region. The area counts barely 56,000 residents, meaning that 1 in 5 people call this city in British Columbia home.
Terrace, BC is almost as large as Prince Rupert, the biggest city in the North Coast development region at 12,500 residents. Although Prince Rupert, BC is just under two hours away, the two cities have similar costs of living. It takes roughly C$42,000 for a single adult in Terrace, BC to afford to rent an average-sized single family home and support a single vehicle.
Terrace, BC Job Opportunities
The Terrace, BC unemployment rate sits at around 6.6 per cent, but job opportunities are on the way. The North Coast development region, combined with the neighboring 40,000-resident Nechako development region, is expected to add over 20,000 jobs in the area by 2022, roughly 35 per cent of which are due to company expansion. Forestry is a major industry in Terrace, BC, aided considerably by its proximity to such lush forests, but there are job opportunities in many other areas as well, including fishing, mining, and wholesale trade.
Terrace, BC Employment Trends
The employment market in Terrace, BC is expected to increase at a rate of 1.5 per cent per annum with some areas experiencing more growth than others. For instance, heavy equipment operators are expected to enjoy increases in job opportunities of 2.7 per cent a year while tradesmen like construction workers, masons, pipe fitters and plumbers are set to enjoy a 2.4 per cent increase in demand. However, these estimates could be conservative. There are nearly C$8 billion in projects now under way, but an extra C$101.8 billion in projects are still in the proposal phase. Retail is also strong.