Economic and Social Benefits
Énergie Saguenay : an opportunity for economic diversification and development for the Saguenay-Lac-St-Jean region
Énergie Saguenay is the largest private project in Quebec history. This will provide a significant opportunity for diversification for the economy of Saguenay-Lac-Saint-Jean. Additionally, it will provide ample opportunities to develop a new industrial ecosystem while maximizing the strengths, expertise, and advantages offered by the region.
Job creation
The Énergie Saguenay project will require thousands of jobs for its various stages of development, construction, and operation. High-quality positions will be created, making it possible to retain the workforce in the regions, attract new talents and even bring back some who have left in recent years.
| During construction |
|---|
The project will create approximately 6,500 direct and indirect jobs during the four-year construction period, including 4,000 direct jobs during peak periods.
| During operations |
|---|
The Énergie Saguenay facility is projected to create over 1,350 direct and indirect jobs during operations, including requiring up to 300 full-time employees at the facility.
significant benefits for the community
Énergie Saguenay will generate significant indirect economic benefits for the local communities. Current projections are $625 million per year in economic spin-offs during the construction period, and $828 million per year during operations.
Tax revenues
During its various stages of development, Énergie Saguenay will generate major tax revenues (excluding corporate taxes) for Saguenay—Lac-Saint-Jean, Quebec, and Canada.
| During construction | During operations |
|---|---|
|
Tax revenues of $100 million per year |
Tax revenues of $110 million per year |
Énergie Saguenay, an asset for regional and provincial economic development
In addition to employment opportunities and monetary benefits for the community, Énergie Saguenay will boost economic development in Quebec and in the Saguenay-Lac-Saint-Jean region, including:
- The opportunity to develop new research and teaching niches
- The development of regional expertise specializing in the liquefaction, storage, and transport of LNG
- Development of area expertise in artificial intelligence that will be used in the facility
- Business opportunities for local companies (services, labour and materials) (Contracts totaling $3.6 million were awarded to local businesses in November 2019.)
- The diversification of the region's economy, in particular around projects related to the carbon neutrality of Énergie Saguenay, which will catalyze the development of numerous social and economic synergies in line with this commitment
- Opportunity for Quebec to use its hydroelectricity to contribute to global climate initiatives.