Electricity: A new industrial pillar for the B.C. economy
This entry was posted on Wednesday, February 17th, 2010 and is filed under Green Energy, Industry News.
Business being developed in the province based on clean generation
…The most optimistic forecasts see independent power producers adding $9 billion to the economy and 9,100 full time jobs over the next decade. Direct payments to government are expected to reach about $530 million annually.
While it may not have the heft of oil and gas, clean energy still holds great potential to deliver significant economic benefits to the province. It already has. Capital spending by IPPs so far amounts to $2.8 billion, and study by PricewaterhouseCoopers LLP, commissioned by the Independent Power Producers Association, sees that figure rising to $29 billion by 2020. IPPs employ 1,175 British Columbians today, with another 7,930 jobs expected to be created by 2020.
Construction of IPP projects has put $235 million into government coffers and potential tax revenue over the next decade is seen at $1.6 billion.
It goes without saying that most of these projects are in remote areas and will bring benefits to resource-dependent communities and first nations bands.
By Harvey Enchin, Vancouver Sun
Link to full article
