PEI

P.E.I. architects benefit from building boom

The building boom on Prince Edward Island seems to be bringing success to the Island's architectural firms as well as to the construction industry.

Profits up after loss recorded in 2013

With the need for new buildings comes the need for people to design them. (Brian Higgins/CBC)

The building boom on Prince Edward Island seems to be bringing success to the Island's architectural firms as well as to the construction industry.

A report from Statistics Canada this week shows both revenue and profits were up in 2017.

Because the P.E.I industry is small, data for some years is suppressed for privacy reasons. But the report does show that as recently as 2013 revenue for architectural and landscape architectural services was $3.4 million and the industry operated at a loss.

In 2017, revenue was up to $4.5 million, a 32 per cent increase, and the industry recorded a 16.3 per cent profit margin.

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