By Eric Florip, Columbian transportation & environment reporter
A proposed at the Port of Vancouver could generate an estimated $2 billion in “economic value” to the local and regional economy, and 176 permanent on-site jobs once the facility is fully operational, according to a new analysis released.
The report by Analysis Group, a Boston-based firm, measured direct, indirect and “induced” impacts from the proposed terminal, which would handle an average of 360,000 barrels of crude oil per day. Of the $2 billion in overall impact, most of that — about $1.6 billion — would come from labor income during an assumed 15-year life of the facility, according to the report. In addition to 176 on-site jobs at the terminal, the analysis noted hundreds of other jobs that would be supported by its operation and suppliers.
The report was commissioned and paid for by Vancouver Energy. That’s the joint venture by Tesoro Corp. and Savage Companies aiming to build the proposed terminal.