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Bruce C Project would boost Ontario economy and create thousands of jobs.
Summary
An Ontario Chamber of Commerce analysis finds the Bruce C Project would add more than $217 billion to Ontario's GDP over an 80-year lifespan and support about 18,900 full-time equivalent jobs annually during construction.
Content
An independent economic analysis commissioned for the Nuclear Innovation Institute finds a proposed Bruce C nuclear project would deliver long-term economic benefits for local, provincial and national economies. The Bruce C Economic Impact Assessment was produced by the Ontario Chamber of Commerce together with Prism Economics and Analysis. The report frames estimates across an 80-year project lifespan and notes the proposal would add up to 4,800 megawatts of capacity. The project is currently undergoing a federal integrated Impact Assessment.
Key findings:
- The report estimates more than $217 billion would be contributed to Ontario's Gross Domestic Product over the project's 80-year lifespan.
- It reports an estimated near-$238 billion contribution to Canada's GDP over 80 years, with about $61 billion from site preparation and construction and more than $176 billion during operations.
- During site preparation and construction the analysis estimates an annual average of 18,900 full-time equivalent (FTE) jobs nationally, with nearly 15,900 of those in Ontario.
- During operations the report estimates an annual average of over 6,700 FTE jobs nationally and nearly 5,900 FTE jobs in Ontario, with roughly 10,100 FTE jobs per year on average over the entire lifespan.
- The assessment cites an addition of up to 4,800 megawatts to Bruce Power's capacity (which the report says could bring the site to about 12,000 MW) and notes about $55 million in annual municipal tax revenue for the Clean Energy Frontier region.
Summary:
The analysis projects sustained economic activity, significant job creation during both construction and operations, and regional tax revenues over an 80-year period. The proposal is currently undergoing a federal integrated Impact Assessment, which the report identifies as the ongoing procedural step.
