A Smart Investment
The Darlington Nuclear Generating Station is one of the top performing nuclear stations in the world. The mid-life refurbishment of this 20-year old facility will ensure continued clean, safe and reliable power for Ontario homes, schools, hospitals and businesses for 30 more years.
Here’s a summary of Darlington Refurbishment’s impact on Ontario’s economy:
- Investing in the Darlington Refurbishment will increase Ontario’s nominal GDP by a total of $14.9 billion and a total of $89.9 billion when calculating in 30 more years of station operations.
- Due to the project’s low import content and heavy reliance on Ontario-based contractors, on average, for every $1 spent on the project, Ontario’s GDP will increase by $1.40.
- The Darlington refurbishment project, and the ongoing operation of Darlington, will create about 14,200 jobs per year from 2017 to 2055.
- The increase in economic activity and the resulting increase in labour income and corporate profits will boost federal, provincial, and municipal governments’ tax revenues by a total of $5.4 billion. The federal government will collect $13.8 billion in revenue, while the local municipalities in Ontario will collect $356 million.
- Since increased employment and GDP translate into increased income, the project is expected to boost personal income by a total of $61.4 billion between 2017 and 2055 and household income by $53.4 billion within the same time frame.
- Similarly, the project is expected to raise pre-tax corporate profits by $2.8 billion and the pre-tax income of unincorporated businesses by an additional $253 million. These figures increase to $7.0 billion in corporate profiles and $3.3 billion in business investment when calculating in 30 more years of station operations.