OPG commissioned The Conference Board of Canada to estimate the Darlington Refurbishment's
economic impact on Ontario's economy. The Board considered the impact covering the
project's Definition and Execution phases, which span from 2010 to 2026.
* Investing in the Darlington Refurbishment will increase Ontario's nominal GDP by a total of $14.9 billion.
* 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 $1.30.
* Over the 2010-26 calendar years, the refurbishment investment is projected to lift employment
by an average of 8,800 jobs per year, and 11,800 per year during the peak period 2014-2023.
* The increase in economic activity and the resulting increase in labour income and corporate
profits would boost federal, provincial, and municipal governments' tax revenues by a total of
$5.4 billion over the project's period.
* Of that total, $1.9 billion accrues to the federal government, $3.1 billion to the Ontario
government, and $407 million to local municipalities.
* Since increased employment and GDP translate into increased income, the project is expected to boost wages and salaries by $8.1 billion and household income by a total of $8.5 billion, or $502 million per year from 2010 to 2026.
* 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 in this time period.
It's also important to note that over its extended 30-plus-year operating life, Darlington will
contribute approximately another $50 billion in economic benefit to Ontario.
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Toronto Real Estate Board - IDX Last Updated: 11/20/2017 9:40:01 PM