The largest export from Bruce, Grey and Huron counties is the electricity that powers homes and businesses across the province and is helping to boost our local economy.
We have truly become a Clean Energy Frontier in the province, with Bruce Power and the three counties making a concerted effort to foster and sustain economic development and innovation.
As part of the Clean Energy Frontier program, Bruce Power has seen the number of major clean energy companies in the region expand from 13 to 62 in a five-year span.
Nuclear energy is not the only important industry cluster in the tri-county region. Among others, farming, manufacturing and tourism are three industries that make a significant contribution to the regional economy.
The result is a strong, balanced and vibrant economy that benefits everyone who lives and works in the region. The Clean Energy Frontier is one of the most successful non-urban regions in Canada as measured by the size of its economy, average income levels and growth rates.
A recent economic impact assessment by Jupia Consultants, Inc., showed that the nuclear energy production sector is a major contributor to the success of the regional economy, including these key findings:
· 90% of Bruce Power employees in Ontario live in the Clean Energy Frontier.
· In 2019, the electric power generation, transmission and distribution sector paid out $897 million in wage income across the three counties. To put this into perspective, this accounts for 20 per cent of all wage income in the tri-county area, or one out of every five dollars in total wage income paid by all employers.
· The vast majority of the Bruce Power induced $1.43 billion in household spending occurs in the Clean Energy Frontier supporting thousands of small and larger businesses.
· Most of the $233.5 million municipal tax revenue is collected by municipal governments in the Clean Energy Frontier.
This strong base rooted in electricity generation will provide more opportunities in the Clean Energy Frontier going forward.
Bruce Power’s Life Extension and Major Component Replacement (MCR) project is Canada’s largest clean energy infrastructure project and is expected to support more than 5,000 jobs during the life of the project.
Ontario is a global leader in the production of medical isotopes and Bruce Power is working with partners to further its production with its new made-in-Ontario Isotope Production System.
While already supplying Ontario with a reliable, clean baseload nuclear energy, Bruce Power is looking at the potential of new technologies, including hydrogen, fusion, small modular reactors (SMRs) and large scale energy storage.
The region needs to ensure there are enough local workers, enough new housing and the infrastructure to support a growing economy.
At Bruce Power, we’re committed to doing our part to make that happen and to deliver a bright future in the Clean Energy Frontier.