Bruce Power's Life-Extension Program is moving to a new phase.
Over 150 developers, realtors and municipal officials from across Bruce, Grey and Huron counties received a first-hand look Friday at the expected economic opportunities that will accompany this program.
The Developer Information Session was part of the joint Nuclear Economic Development and Innovation Initiative between the County of Bruce and Bruce Power. It outlined the planning and development considerations as they relate to the impending economic development opportunities.
The first of six Major Component Replacement Projects will begin in Unit 6 in 2020. In the meantime, the county and Bruce Power continue to work together to have suppliers invest in the area by opening offices in Bruce, Grey and Huron counties, and by hiring local people, which will boost the region’s economy.
James Scongack, Bruce Power’s vice president of corporate affairs and environment, says the entire region will benefit from the Life-Extension Program, which officially began on January 1, 2016, and remains on time and on budget.
"Our goal is to maximize the economic impact our $13-billion private, on-site investment has on the community as a whole," says Scongack. "Bruce Power is investing billions into our site so it can provide low-cost, carbon-free electricity for Ontario families and businesses through to 2064, and we want our suppliers and contractors to also invest in our communities, which have supported the nuclear industry without fail since the 1960s."
With this unprecedented investment program will also come a need for new housing, which is why the developer session was so important, Scongack adds.
"We wanted the developer information session to be an open forum for discussion and dialogue between the municipal sector, the county’s planning department, Bruce Power, developers and realtors," says Kelley Coulter, Bruce County's chief administrative officer. "We are encouraging developers and communities to look to the investment opportunities in the area and how we can support regional growth opportunities."