Bruce Power, Bruce County host second annual Economic Summit in Walkerton

More than 100 people attended the second annual Economic Summit, hosted by Bruce Power and Bruce County, Tuesday in Walkerton.

The event was an opportunity to evaluate the success of the first year of the joint Economic Development and Innovation Initiative. Launched last fall, the goal of the initiative was to facilitate the expansion of Bruce Power suppliers into the region of Bruce, Grey and Huron counties, in response to Bruce Power’s multi-billion-dollar, multi-year Life-Extension Program.

The first year has been a success, as 11 suppliers have located offices or committed to opening facilities in the region. This includes Kinectrics, which committed to creating up to 50 jobs over the next several years in Kincardine and Teeswater; and Abraflex, a new Bruce Power supplier, which is operating a manufacturing facility in the Village of Paisley.

The expansions began as suppliers partnered with Bruce Power on its Life-Extension Program, including the Major Component Replacement (MCR) project that begins in 2020.

Mike Rencheck, Bruce Power president and chief executive officer, co-hosted the summit with Bruce County warden Mitch Twolan. The crowd of participants included municipal representatives, regional economic development organizations, and Bruce Power suppliers who have a local presence.

“This was our second annual Economic Development and Innovation Summit, reporting the progress made over the past year and providing an update to local stakeholders and suppliers on the activities on the Bruce site,” Rencheck said. “The success of the economic development program is boosting local economies, creating jobs and seeing families move into the region.”

Twolan said Bruce County has been thrilled with the response by suppliers, to date, and the benefits these investments bring to the local communities and residents.

“I hear from colleagues from other regions who are envious of the role we are playing in expanding the nuclear supply chain,” he said. “We will continue to help businesses increase their footprint across Bruce, Grey and Huron counties, and we look forward to even more economic investment in our communities as Bruce Power’s life-extension progresses.”

Ron Oberth, president and chief executive officer of the Organization of Canadian Nuclear Industries, announced at the summit that his group will be adding a part-time role in the Lake Huron region to connect its members and assist them in their new location.

In an interview after the summit, Rencheck said Bruce Power's goal is not to create jobs but to build careers that allow employees to work at the site from the time they graduate to the time they retire.

"With this economic initiative, we're talking new schools in response to increased enrolment," he said. "It means thousands of jobs in the region. People are moving here and liking it, and they're talking about it. It's a good thing for the community, and we're excited about the future."

Highlights of the summit included a keynote presentation by Robert Lavigne, managing director and economic research for OMERS (Ontario Municipal Employees Retirement System); an update from Rencheck on Bruce Power’s Life-Extension Program and community engagement initiatives; a panel of local suppliers on experiences and insights since expanding to the region; a tri-county panel discussing community readiness to support growth; and a presentation by Sunil Johal, director of the University of Toronto’s Mowat Centre, on rethinking community engagement in the digital era through technology, economic opportunity and policy.

For more information on the Bruce Power and Bruce County Economic Development and Innovation Initiative, visit the website at: www.brucepower.com/suppliers.