We have committed to implementing the project in a way that fosters well-being as defined by the people who live in the area. We continue to learn from communities about the many dimensions of well-being that are important to them. Economics is just one aspect.
The implementation of Adaptive Phased Management is a national infrastructure project with an estimated cost of approximately $22.8 billion (2015 $). It has the potential to be an economic engine for many decades in the area where it is located, as well as the larger economic region.
The project is multi-generational. It will be developed and implemented in phases over a period of more than 150 years. It will bring significant economic benefits to the area in which it is sited and the host province. (The siting area includes the host community, First Nation and Métis communities in the area, and surrounding communities associated with the project.)
The number of jobs in the siting area will depend in part on the location of the repository, as well as the capacity of communities in the siting area and economic region. Working together with the NWMO, investments can be made to build capacity to maximize benefits for an area in a way that aligns with the vision and goals held by people who live there.
Construction and operation of the facility will also create wealth throughout the broader area in the form of business profits and personal income amounting to many hundreds of millions of dollars.
We have committed to seek out local and Aboriginal suppliers wherever possible, as an important way to help build local and regional communities.
Economic Modelling: How We Estimate Impacts
To help understand the economic effects the project would have, we had a model developed for each study area to provide initial estimates.
The models use a commodity-based approach and economic multiplier information derived from Statistics Canada's Interprovincial Input-Output Model of the Canadian Economy.
These are initial estimates that provide a general idea of expected job numbers based on currently available information.
Actual numbers will depend on a range of factors, including the location, specific plan for implementing the project, cost, and schedule. These factors can evolve over time. By working together to implement the project, we can optimize and direct economic benefits to meet community expectations and needs.