FORT ST. JOHN, B.C. – The B.C. government announced today that a total of eight communities in the Peace River region will share a $50 million payment that is aimed at helping the regional economy support a strong industrial service sector for the oil and gas industry into the future.
This is the second $50 million payment from the B.C. government with stems from the 20-year Peace River Agreement (PRA), negotiated in 2015, which will provide regional local governments $1.1 billion over the duration of the agreement. Annual PRA funding helps local governments with planning, programs, asset management and infrastructure investments that support regional economic growth and opportunity.
The eight local governments that will share this year’s $50-million payment are: District of Chetwynd, City of Dawson Creek, City of Fort St. John, District of Hudson’s Hope, Village of Pouce Coupe, District of Taylor, District of Tumbler Ridge and Peace River Regional District.
Peace River South MLA Mike Bernier said in a release that the agreement will continue to benefit those in the Peace River region.
“With the Peace River Agreement in place and delivering on its commitments, local governments in northeast British Columbia can plan their economic future based on stable, on-going financial support from the B.C. government. By supporting local jobs and services in the Peace River region for years to come, the agreement will continue to prove its worth to communities, families and the regional economy.”
Payments to individual local governments are determined by an allocation formula included in the PRA and calculated and certified by the Peace River Regional District and all eight local governments have submitted their 2017 reporting packages to the satisfaction of the Province.