An economic impact analysis from the Ontario Chamber of Commerce is highlighting the benefits the proposed Bruce C Project would generate.
The assessment finds the project would not only deliver lasting job creation, but also bolster Ontario’s and Canada’s economy.
Director of Corporate Communications John Peevers says the report confirms what Bruce Power already suspected of the project, it has the potential to be economic engine for the region.
“Job creation, economic growth, energy security, all things I think that are on people’s minds and a potential real positive for the region,” says Peevers.
Bruce C’s direct benefits would mainly be centred in Ontario, contributing more than $217 billion in gross domestic product (GDP) in the project’s 80-year lifespan, as well as contribute $2.3 billion to the regional GDP annually.
Of the nearly $238 billion generated to Canada’s GDP, about $61 billion would come during site preparation and the construction phase, with other $176 billion generated during operation.
Bruce Power Vice-President of Corporate Affairs and Market Development Pat Dalzell says, “The Bruce C Project would be an investment in strengthening our communities and the economy, while empowering skilled workers and innovation across Ontario.”
Additionally, the site preparation and construction phase of the project would create nearly 19,000 full time jobs nationally, of which, nearly 16,000 would be in Ontario.
When the project becomes operational, over 10,000 full-time jobs would be created Canada-wide, about 8,700 of which would be in Ontario.
The proposed project, which has been in the works for a few years, would add up to 4,800 megawatts of energy production, and make Bruce Power the largest nuclear generator in the world with a capacity of 12,000 megawatts.
Peevers says Bruce Power continues to conduct impact assessments to prepare for the project.
“Engaging with communities, engaging with the Saugeen Ojibway Nation and Indigenous communities, making sure we are hearing all points of view and getting all the data points we need to eventually make the submission to finalize the project and complete the impact assessment process,” says Peevers.
The impact assessment process will end in 2028, at which point Bruce Power will decide if it will proceed with the project.