Bruce Power and the County of Bruce have teamed up to establish and support a new regional economic development and innovation initiative. The goal of the initiative is to leverage economic opportunities for local communities given the multi-year, multi-billion investment program announced by Bruce Power last December.
“Given the large-scale investment, training and job creation opportunities of Bruce Power’s multi-year investment program, we all recognized the importance of establishing a consolidated, co-ordinated approach to economic development as it relates to the company’s investment activities and other opportunities for innovation,” said Kelley Coulter, Bruce County’s Chief Administrative Officer. “Bruce Power has always had a positive and engaging working relationship with its neighbours. This approach is not only practical but will be viewed as a model across the province as something very unique and innovative.”
A jointly funded Business Investment Specialist position has been established to create a single interface to facilitate a range of economic development and innovation ideas as part of the multi-year investment program at Bruce Power, in addition to the company’s core economic impact through operations. Stellina Williams, the County’s new Business Investment Specialist, will progress and facilitate the initiative, which will be launched at an Economic Development and Innovation Summit in Kincardine on Sept. 14.
An Advisory Committee with representatives from Bruce, Grey and Huron Counties will also be established this fall with the goal of bringing together key leaders and organizations from across the region to support the development of a strategic plan and interim actions to advance a number of immediate opportunities. The goal of this Advisory Committee will be to provide input and advice on the development and implementation of a strategy, while also serving as a resource to facilitate opportunities.
“To be successful with our multi-year investment program it’s essential we work together as we are all in this together,” said 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.”
On Sept. 14, Bruce Power and the County of Bruce will be hosting an Economic Development and Innovation Summit in Kincardine to formally launch the initiative, which will bring together both the Advisory Committee and key community leaders. The Summit will also feature a number of guest speakers including Robert Lavigne, OMERS Managing Director, Economic Research; Michael Fenn, former Ontario Deputy Minister and OMERS AC Director; and Mike Rencheck, President and CEO of Bruce Power.
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 & 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.
About Bruce Power
Bruce Power operates the world’s largest operating nuclear generating facility and is the source of 30 per cent of Ontario’s electricity. The company’s site in Tiverton, Ontario, is home to eight CANDU reactors. Formed in 2001, Bruce Power is an all-Canadian partnership among Borealis Infrastructure Trust Management (a division of the Ontario Municipal Employees Retirement System), TransCanada, the Power Workers’ Union and The Society of Energy Professionals. A majority of Bruce Power’s employees are also owners in the business
About County of Bruce
Bruce County is an upper tier municipality of 64,000 residents across eight (8) member municipalities. In addition to being home to Bruce Power, the County has a diverse geography including the UNESCO Niagara Escarpment World Biosphere of Bruce Peninsula with in excess of 200 kilometers of shoreline. In 2016, Bruce County was nominated for a national award with the Institute of Public Administration of Canada for innovative management and public service practices.
For further information, please contact:
John Peevers – 519-361-6583
Bruce Power Duty Media – 519-361-6161
For updated Bruce Power photos and b-roll video, please visit our Media Kit page.
Kelley Coulter, CAO, Corporation of the County of Bruce – 519-881-1291