The Economic Effects of Nuclear Refurbishment
Business leaders and politicians in Bruce County met Thursday for a panel discussion on the vital role the nuclear supply chain plays in the area.
It was held at the TownePlace Suites by Marriott Kincardine, and involved members of the Saugeen Shores and Kincardine Chambers of Commerce, the Ontario Chamber and political leaders.
They talked about how Bruce Power helps to add jobs throughout the province and in particular in Bruce, Grey and Huron Counties.
Joanne Robbinson, General Manager of the Saugeen Shores Chamber says not only is Bruce Power a major employer to the area, community minded and discussions were geared toward local small businesses impacted by the nuclear industry.
She says there's a real focus on small local businesses in both Saugeen Shores, Kincardine and surrounding Bruce, Grey and Huron, which is great for the local economy.
Kincardine Chamber chair Matt Smith says the supply chain offered by Bruce Power is an important part of the economic growth strategy for the region.
He says it has a lasting impact on strengthening our local workforce, and those workers buy homes, spend money and pay local taxes.
The event was attended by MPP Lisa Thompson, Warden Mitch Twolan, Kincardine Mayor Anne Eadie and Saugeen Shores Mayor Mike Smith.
It was also attended by local supply chain companies: Jim Sarvinis of HATCH, Paul Irwin of ES Fox, Rolf Eberl of SED Electronics and Eddie Saab of NA Engineering.
An official with the Ontario Chamber of Commerce also spoke about the importance of the project from a province-wide perspective.
Karl Baldauf, Vice-President of Policy and Government Relations says the economic benefits of Bruce Power span far beyond the local region, and will create opportunities throughout Ontario's nuclear supply chain.
The Life Extension Program is expected to see $980 million to $1.2 billion in direct and indirect labour income annually and $751 million to $1.07 billion in direct and indirect annual economic benefit will be realized through the purchasing of equipment, supplies and materials.
In addition, 90% of spending is in Ontario, supporting hundreds of businesses throughout the province.