Fact Sheet – The economic advantage
The renewal of the Vancouver Island Rail Corridor will help give it a leading role as a driver of sustainable economic development on Vancouver Island.
Some examples:
• Improvements to the rail line will give Island businesses, especially those in the resource sector, better access to North American and Asian markets through the B.C. government’s $3-billion Pacific Gateway program.and through connections that rail operator Southern Railway of Vancouver Island (SVI) has to all rail-served points in North America.
• Track upgrades will trigger development of an $11-million rail-marine terminal at Annacis Island with connections to North America and world markets.
• SVI will inject another $42 million over 10 years into the Island economy for wages, salaries, goods and services
• The Island Corridor Foundation and member municipalities will inject another $12 million over 10 years to ensure the line remains viable.
• Restoration of the rail corridor to modern standards could trigger hauling to market an additional $1 billion a year in forest products alone, such as lumber and paper, and value-added lumber and veneer products.
• Other businesses have identified a further $2.4 billion in agricultural supplies, fertilizers, sand and gravel, coal and steel, bio-fuel and gas, chemicals and waste materials that could be carried by rail each year.
The renewal of the Port Alberni section of the Island Corridor will also trigger economic activity for Island businesses, such as:
• Lumber producers, who now have no ships calling at the port of Port Alberni to take on lumber shipments, will have a rail route for lumber destined for Mainland container ports.
• SVI is also looking at shipping bulk products such as coal through Port Alberni for delivery by deep sea freighters to customers throughout the Asia Pacific region.
• A revitalized Alberni rail line will provide alternatives for local inter-plant product transfers and loading of bulk barges in Nanaimo; and could trigger a $2-million expansion of the immensely popular Alberni Pacific Railway steam excursion train.
The Island Corridor also promises exciting opportunities in tourism, First Nations and other businesses, green transportation, and support for sustainable resource development.
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