The growth of Ontario's economy is being linked directly to Bruce Power’s Life-Extension Program.
That's the conclusion of a new report, which is a joint effort between the Canadian Manufacturers & Exporters, the Provincial Building and Construction Trades Council of Ontario, and Bruce Power.
It shows that 22,000 jobs will be created and sustained directly and indirectly through the Bruce Power Life-Extension Program every year through 2064.
An estimated $4-billion in domestic economic benefit will be realized annually through the direct and indirect spending on operational equipment, supplies, materials and labour income.
Patrick Dillon, business manager and secretary treasurer of the Provincial Building and Construction Trades Council of Ontario, said the Life-Extension Program, which includes replacement of major components on six of the Bruce site’s eight nuclear reactors between 2020 and 2033, is exactly the kind of commitment and investment that helps train Ontario's skilled trades workforce.
"Over the next 15 years, during Bruce Power’s Major Component Replacement Project, the company will invest $980-million to $1.2-billion private dollars in labour income every year, and create $751-million to $1.07-billion in annual economic benefit through equipment, supplies and materials, both directly and indirectly," Dillon said. "There is no single, well-established facility or infrastructure project in Canada that will have such a significant economic impact."
Dennis Darby, president and CEO of the Canadian Manufacturers & Exporters, said low electricity costs are a priority for the members of his organization.
"Manufacturers require reliable and low-cost power to remain competitive on Canadian and global markets," Darby said. "Bruce Power providing electricity at below-average cost is a step in the right direction to enhance the competitiveness of the manufacturing sector in Ontario."
