- by Greg Bobier, Business Manager – Waterloo-Wellington-Dufferin-Grey Building and Construction Trades Council
We are all focused on the COVID-19 pandemic which is dramatically impacting our local economy. While government subsidies such as the Canada Emergency Response Benefit (CERB) have come as welcome short-term relief to many Canadians affected by the crisis, the deployment of private capital investments must play a leading role in jump-starting our economy. Increasing private sector economic activity helps fund strong, well-resourced public services that all Ontarians rely on, and we must keep those services intact.
This makes the need for private sector investments all-the-more necessary to generate employment opportunities and revenues for cash-strapped governments.
TC Energy’s proposed Pumped Storage Project north of Meaford, Ontario is one such investment that has the potential to have a widespread, positive impact locally. If constructed, this project would provide 1,000 Megawatts of flexible, clean energy to Ontario’s electricity grid, which would help reduce carbon emissions.
According to Statistics Canada, the Stratford-Bruce Economic Region which includes Grey County where the project is planned, has seen its unemployment rate nearly double from 4.1% in January, to 8.1% in April. These alarming numbers could be alleviated through the Project’s $3.3 billion investment which would create 1,033 direct jobs, and an additional 3,536 spinoff jobs regionally, provincially, and nationally, according to a study by ERM Consultants Canada.
Taken together, the design, engineering, environmental assessment, permitting, and construction activities are estimated to last until 2027, producing 18,849 person-years of employment that will benefit the collective interest of working families in the region, over the course of several years. The Building Trades would be very interested in working
with TC Energy, the Municipality and other community partners to examine how these economic opportunities can be maximized locally.
The Building Trades are hopeful that all phases and aspects of the project, including its design, environmental impact through to construction and operation will be closely examined by the community with a view to addressing every concern through constructive dialogue with the proponent. Doing so would generate mutual support that can help propel this initiative forward.
On behalf of the local Building Trades, I am voicing my support for the Pumped Storage Project and would urge Meaford municipal Council to do the same, as we all work to improve our economic well-being in uncertain times.
