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Doom and gloom. Recession.
Bankruptcies. Unemployment.
Those are the stories we watched
on national television, but what
was life really like in Terrace last
year?

According to one source, with

5 eas

rie

PES

ai respect to economic stability and

; growth, Terrace recorded one of its
strongest years ever in many cate-
“gories. And in general terms it was
3 . the best year this community has
IC. 4. seen since the boom of 1980-81.

E Information included in a report
fi drafied by Bob Lafleur of the
city’s Building and Licencing
Department states that 154 building
permits were issued in 1990. This
included 105 new housing units
: and brought the year end 1990
A construction value to $14.6 million.
, “By far our best year since 1971,"
writes Lafleur.

He adds that 1990 also showed
the most dramatic increase in
commercial space since Skeena
Mall added 88,000 square feet in

Terrace Review i: Wednesday, Febauaty:603 991 AbS

1978, Along with more commer-
cial space in 1990, came more
business licences. The number of
_ business licences issued in 1990
totalled 1,050; an increase of 10
percent from the previous year and
40 percent since 1983. He notes
that 183, or 17.4 percent of the
licences issued last year were to
home based, service-oriented busi-
nesses, .

Another interesting trend reported
by Lafleur indicates "the reality
that the character of Terrace is
quickly transforming from a forest
industry town to that of a regional
supply and service centre". Back-
ing up this statement: "In 1979, 33
percent of the population was
forestry related. In 1990, 28 per-
cent of our employment is supply
and service oriented."

Using Mary Montecith’s "The
evolution of Terrace’ as a
reference, Lafleur also notes that
employment in. the teaching and

-medical professions in our com-

Local economy boomed in 1990,
City licence statistics show

munity is approximately twice the
provincial average. And employ-
ment in clerical fields in Terrace
represents 17.7 percent of the total
workforce; three times the provin-
cial average.

Many experts say the recession
will catch up to us, but Lafleur
offers a more optimistic view
‘based on "educated guessing”.
According to Lafleur: "For 1991,
enquiries indicate good growth in
multi-unit residential (apartments).
Commercial should be stable with
a slowdown in residential single
family dwellings.” But to this he
adds, "Renovations will remain
high, both commercial and resi-
dential, and several of our schools

will be upgraded.”
GST jitters? Not according to
Lafleur. "From information

received," he says, "GST has
actually reduced the cost of build-
ing supplies. This combined with
the lowering interest rate, leaves
nothing to suspect that Terrace will
slow down."

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Terrace, B.C, V8G 1N4
Phone 638-1991

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FAX: 635-3081

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Terrace, B.C,
V8G 4Z3

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_ Ph. 635-7724

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638-1166

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