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Wednesday, July 06, 2005

Olympic Construction Costs Soaring (just like I predicted two years ago)

Not to brag or anything but in the October 25, 2003: Vancouver Sun I predicted that due to a shortage of skilled labour that construction costs were going to increase.

Now almost two years later CBC News has posted the following story:

Concerns are being raised about the costs of venues for the 2010 Winter Games in Vancouver because of rising labour rates and material prices.

Organizers say a B.C. building boom has forced those costs to skyrocket, but say they'll do whatever necessary to ensure the Games come in on budget.
Celebration at GM Place when theInternational Olympic Committee announced that Vancouver had beenawarded the 2010 Winter Games

FROM JULY 2, 2003: Olympic construction boom ahead

The executive director of the Council of Construction Trades Associations believes it will be a challenge to meet that budget because of the province-wide building boom.

Richard Campbell says the cost of materials such as steel are rising quickly. He warns there could soon be a labour shortage that would drive the final price tag even higher.

"When it comes right down to the crunch, it's very possible that we're still going to have to import people at whatever price it will take, to bring them here to help us finish things off," Campbell said.

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