Recently the construction of the Site C dam was approved by the BC government. The approval of this project means that it will generate a great number of economic benefits for British Columbians through economic development, job creation, and increased revenues for all sectors of the government.
BC Stats created a report based on construction expenditures and the Site C Environmental Impact Statement to detail the economic benefits of the Site C dam.
Thousands Of Jobs
With the construction of the Site C dam there will be 25 permanent direct jobs created and 160 total jobs on average per year during the operation.
This will equate to roughly 10,000 person-years of direct employment during construction, and approximately 33,000 total person-years of employment through all stages of construction and development.
In addition there could be other employment opportunities as a result of sustaining investments in the project such as replacement and/or refurbishment of project components over the life of the project.
Investment In Trades And Skills Training
As BC Hydro has recognizes it is important to hire locally in the Peace River community, BC Hydro has invested approximately $1.5 million in a number of trades and skills training programs. With these training programs available it will make these local jobs a lot more attainable and help the community.
These training programs include:
- $1 million – Northern Lights College Foundation
- $184,000 – Northern Opportunities for the creation of a school district career counselor position to help students transition into a career in trades and the training required
- $100,000 – North East Native Advancing Society
- $175,000 – over five years to Northern Opportunities for its pre-apprenticeship program
Economic Activity And Increased Government Revenues
As a result of the Site C project an increase of $3.2 billion in provincial gross domestic product (GDP), which includes a $130 million increase in regional GDP during construction.
The development and construction of the Site C dam will increase government revenue at the federal, regional, and provincial levels which will include the following:
- $179 million – in provincial revenues during construction
- $270 million – in federal revenues during construction
- $2.4 million – each year to the Peace River Regional District for members of the community as part of the regional legacy benefits agreement. This annual funding will start when Site C is operational and go for 70 years and would be indexed to inflation
- $40 million – tax revenue during construction to the local government
- $2 million (approx.) – each year to the local governments during construction from school taxes and grants-in-lieu
- $35 million – each year in water rental payments to the provincial government
Opportunities For Local & Aboriginal Businesses
As part of the many project initiatives by BC Hydro for the Site C project is to provide a lasting social and economic benefits for the northern communities and Aboriginal groups. A procurement approach to the project will provide opportunities for small all the way up to large businesses to participate in the construction of the Site C dam.
Two of the BC Hydro’s business initiatives to increase awareness of opportunities include:
- Holding business-to-business networking sessions
- These sessions will include local, regional, and Aboriginal businesses in order to build business partnerships
- A Site C Business Directory
- This will provide interested business with information about project opportunities
- To register you can go to www.sitecproject.com