Québec’s New Job Creation Strategy Capitalizes on Surplus Electricity

On October 7, the government of   Quebec released a new job creation statement: “Economic Policy – Putting Jobs First”. The strategy includes an “investment-job pricing offer”, which offers reduced electricity rates to industries related to natural resource processing, renewable energy component manufacturing, green technologies and transportation electrification, and information technology. This initiative is projected to attract investments of $1.6 billion and create 10, 300 jobs in the short term. The program will remain in effect as long as Hydro Quebec has surplus electric capacity, which the government estimates is until 2027. In addition, $111.5 billion was announced to stimulate green renovation through EcoRenov, a refundable tax credit program which will be offered to individuals for residential green renovations done by October 31, 2014, up to a maximum tax credit of $10,000. In addition, funding for the existing Rénoclimat program will be increased by $37 million to add a component for the replacement of fossil fuel-burning heating systems.

LINKS:

“Quebec to invest $2 billion in jobs to stimulate sluggish economy” in the Globe and Mail (Oct. 7) at: http://www.theglobeandmail.com/report-on-business/quebec-to-invest-2-billion-in-jobs-plan/article14725423/

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