Bruce Power and Bruce County will work together to create a new regional economic development and innovation initiative.
They hope to leverage local economic opportunities to capitalize on the multi-year, multi-billion dollar investment program announced by Bruce Power in December.
A new business investment specialist will act as the interface for the range of ideas that they hope to generate.
Stellina Williams will facilitate the project which will be launched at an Economic Development and Innovation Summit in Kincardine September 14.
An Advisory Committee will be created to bring together key leaders and organizations from across Bruce, Grey and Huron Counties.
Bruce County CAO Kelley Coulter says a consolidated approach should help coordinate the investment activities of Bruce Power with other opportunities for innovation.
“To be successful with our multi-year investment program it’s essential we work together as we are all in this together,” says James Scongack, Bruce Power’s vice president, corporate affairs. "We have a shared responsibility to ensure we are looking at the many opportunities available to us to both enhance economic development in the region and also position the site for long-term success. This initiative will bring together our region in a way that will allow us to leverage the important opportunities this multi-year investment program could provide communities for many years.”
The Summit will also feature a number of guest speakers including OMERS Managing Director, Economic Research Robert Lavigne, former Ontario Deputy Minister and OMERS AC Director Michael Fenn, and President and CEO of Bruce Power Mike Rencheck.
In 2015, Bruce Power and the Independent Electricity System Operator secured a long-term agreement that will see Bruce Power provide 6,300 megawatts through 2063 through a multi-year investment program known as Major Component Replacement. According to a joint study released by the Ontario Building and Construction Trades Council of Ontario, Southwest Economic Alliance, Canadian Manufacturers and Exporters, The Society of Energy Professionals and the Power Workers’ Union, the investment will annually secure 18,000 jobs directly and indirectly from operations, and an additional 3,000 to 5,000 jobs annually on the Bruce Power site, injecting billions into Ontario’s economy.
