Energy, mining projects could create thousands of jobs: report
5 proposed projects could bring $8.6B in investments to N.B., government-commissioned report finds
A report commissioned by the Alward government suggests five proposed energy and mining projects could bring $8.6 billion worth of investments to the province and thousands of new jobs if they proceed.
The report, released on Tuesday, says shale gas development, the proposed Energy East pipeline, the Canaport Energy East Marine Terminal, the conversion of the Canaport LNG terminal into an export facility, and the Sisson Brook tungsten and molybdenum mine projects could transform the provincial economy.
"None of these projects are guaranteed, but all of them have a reasonable chance of occurring," said David Campbell, an economic consultant with Moncton-based Jupia Consultants, who prepared the report.
If the projects do go ahead, they could generate an average of 5,200 new direct and indirect jobs per year, and boost the province's nominal gross domestic product by an average of three per cent annually for the next six years, said Campbell.
He based his report, Potential New Brunswick Energy Infrastructure and Natural Resource Investment Review, on information that was already in the public domain, he said.
But the report, commissioned by the Department of Economic Development and the Department of Energy and Mines, groups the projects together to provide a consolidated view of their potential impact on the economy.
"We are poised to be a major player on the world energy and mining stage and this study quantifies the opportunities in front of us," said Energy Minister Craig Leonard.
"We're the only party that's going to be running in the election this September that's going to be saying, 'Yes,' to all of these projects," he said.
Most of the projects are linked, said Leonard. Without shale gas development, for example, he contends there could not be a $3 billion LNG export terminal.
The report did not include the ongoing economic benefits that would be generated past 2020.