Declining investment in major infrastructure projects is “alarming,” according to a new report from the B.C. Construction Association .
BCCA president Chris Atchison said there is a great need for more hospitals, schools, multi-unit housing, bridges and supporting infrastructure across the province. High labour costs and workforce shortages are also concerning, Atchison said, since they contribute to steep prices for homeowners and renters. There has been a seven-per-cent decrease in the number of workers in trades jobs since 2019, according to the BCCA. The association also estimates that 6,600 construction jobs will be unfilled by 2033.
In addition to high construction and labour costs, the BCCA president also cited high prices for materials, supply chain disruptions and poor procurement practices as factors in exorbitant shelter costs. “Any increased risks that need to be borne by the contractors and the business community, those risks are going to be passed on by way of risk premiums to the owners as well,” Atchison noted.