Value of Municipal Taxes Paid

- It is estimated that the total municipal taxes paid by the industry is
$1 million per year; of which over 60% is paid to the City and the

balance to the District.

Justification for Support

1. North Vancouver is the center of shipbuilding in British Columbia

a) six of ten largest yards in B.C. are located on the North Shore
of Burrard Inlet.

b) a number of important marine organizations have relocated to
North Vancouver, e.g. Canadian Coast Guard Regional H.0., .
Lloyd's Register of Shipping.

2. Shipbuilding is a relatively clean industry which is. often compatible
with commercial development : shipyards are of interest to citizens
and visitors alike.

3. Shipbuilding has a significant impact on the economy of North
Vancouver.

- Using a multiplier of 3:1 shipbuilding has an impact of over
$125 million a year in economic benefits to North Shore

business, local governments.

~ The potential fs even greater : assuming say 803 of peak
employment could be recovered, the additional economic benefit
is $100 million a year or $225 million in total.

Shipyards in North Vancouver have made significant advances in the
use Of modern technology and now are among the most productive in

North America. .

Without a major new contract beginning immediately, the industry
will lose its technical skills and employment levels will decline

by a further 600 to 700 jobs.

Prepared : May 12, 1986