SURREY – The Independent Contractors and Businesses Association (ICBA) today released its summer 2025 edition of its B.C. Construction Monitor, authored by ICBA Chief Economist Jock Finlayson, spotlighting both the scale of B.C.’s natural resource opportunities and the growing challenges in housing construction.
The Monitor shows B.C. holds 132 current and potential natural resource projects worth an estimated $255 billion – about 40% of the federal government’s $633 billion national project inventory. These projects are led by LNG and other energy infrastructure, electricity generation and transmission, and mining. B.C. now accounts for 30% of Canada’s active mining projects, ranked by capital spending.
At the same time, the Monitor notes weakness in residential building. Urban housing starts in B.C. fell 19% year-over-year, dropping to 3,732 units monthly, a stark contrast to the sharp rise in construction costs and demand for homes.
“B.C. is at a crossroads,” said Chris Gardner, ICBA President and CEO. “We are sitting on a quarter-trillion dollars of potential resource projects that can power our economy for decades, if our NDP Government can get out of the way – but we’re also falling badly behind on housing supply. For B.C. to remain competitive, governments must act urgently to cut red tape, speed up approvals, and create the conditions where builders can get shovels in the ground, whether that’s LNG, mining, power, or desperately needed housing.”
Finlayson’s analysis stresses that B.C.’s construction sector, which directly contributes 9.1% of provincial GDP, is positioned to deliver on both fronts, but only if regulatory bottlenecks are addressed and federal commitments to faster project approvals (Bill C-5) are matched provincially.
“Construction is the backbone of prosperity in this province,” said Gardner. “Whether it’s delivering the energy Canada needs, the minerals the world wants, or the homes British Columbians are desperate for, the men and women in construction are ready to build. What we need from government is the confidence that when a good project comes forward, it won’t get lost in years of process and politics.”
The B.C. Construction Monitor is an ICBA publication providing ahead-of-the-curve intelligence for contractors, suppliers, and project owners. Full Summer 2025 edition available HERE or at icba.ca/economics.
