A major player in regional development
Every year, Hydro-Québec’s operations and projects generate billions of dollars in spinoffs and support thousands of jobs. The current construction projects contribute substantially to the vitality of a number of regional economies.
In 2012, $130 million (financing excluded) was invested in the Eastmain-1-A/Sarcelle/Rupert project as well as $650 million (financing excluded) in the $6.5-billion Romain complex.
Between 2012 and 2016, the peak labor force in the Romaine complex, will be in excess of 2,000 workers, most of them from the region.
Business practicesHydro-Québec uses various mechanisms to maximize the regional economic spinoffs of its projects. Examples are the use of contract clauses that promote local subcontracting and tender calls reserved for regional companies for contracts valued at under C$1 million, as long as the principles of competition are upheld.
In addition, by setting up regional economic spinoff committees, the company keeps local organizations informed about its calls for tenders and the spinoffs from its projects, as well as enabling them to participate in monitoring the measures implemented.
Contribution to the Québec Economy
Electric power is the leading industry in Québec: its economic impact is twice that of agriculture and forestry, pulp and paper or aeronautics, and eight times greater than that of the mining industry.
Hydro-Québec is pursuing its work to create value from Québec’s energy resources. In so doing, the company plays a critical role in Québec’s economic growth and in the attainment of ambitious goals for sustainable development.
In 2012, the net result totaled $860 million. The dividend paid to the Québec government has reached $645 million.
Examples of regional spinoffs generated by hydroelectric projects
A regional economic spinoff committee was set up to promote participation by Côte-Nord companies and workers, including the Innu of Ekuanitshit, Nutashkuan, Unamen Shipu and Pakua Shipi. In addition, certain tender calls were reserved for regional companies or stipulated the use of regional subcontractors, and some contracts were directly negotiated with Innu companies.
GOODS AND SERVICES
In 2011, Hydro-Québec purchased $103.7 million in goods and services from Aboriginal companies, organizations and independent workers.