The proposed Trans Mountain Expansion Project provides a wide range of economic opportunities for Canada. From the project’s design and construction phase to long-term operations, the total direct expenditures are estimated at more than $11 billion.
Construction Spending:Trans Mountain expects to spend $5.4 billion (2012 - 2018) to design and build the proposed expansion project.
Operating Expenditures:Trans Mountain expects to spend $5.9 billion (2019 – 2048) to operate the proposed expanded pipeline system.
According to the Government of Canada, the development and export of natural resources such as oil are an important part of our economy.
Overall, the proposed expansion will enhance Canada’s ability to reach diversified markets with its oil and provide 60,800 person-years of employment (during construction and operations), while also increasing tax revenues that can be used to fund government projects and services Canadians depend on such as health care, education, roads and infrastructure. The estimated tax revenues to the Government of Canada are $1 billion over the life of the proposed project.
These estimates of the economic effects of the proposed Trans Mountain Expansion Project expenditures on Canada include design, construction and operation of pipeline, stations and other facilities from Strathcona County, Alberta (near Edmonton) to the Westridge Marine Terminal in Burnaby. The time period includes an approximately six year design and construction period (2012 to 2018) followed by a 30-year operation period (2019-2048).
What Responsible Resource Development means for jobs and growth in Canada: http://actionplan.gc.ca/en/backgrounder/r2d-dr2/jobs-and-growth
Backgrounder: International Energy Agency 2012 World Energy Outlook: http://actionplan.gc.ca/en/news/minister-oliver-meets-chief-economist
Note: All figures on this page, are based on the proposed expansion of the Trans Mountain Pipeline at a proposed capacity of 890,000 barrels per day. These estimates are approximate and will change as economic impact figures are updated to reflect project design changes and economic conditions.