NORTH BAY – High hydro rates continue to drive jobs and investment out of Ontario, PC Energy Critic and Nipissing MPP Vic Fedeli said today.
Innovation Metals, a Toronto-based firm, recently announced plans to set up the world’s first independent centralized rare-earth ore separation plant in Becancour, Quebec.
The company chose the location in Quebec over several potential sites in Ontario citing Quebec’s low industrial power rate as a major factor (Montreal Gazette, July 17, 2012).
“Ontario will soon have the highest power rates in North America,” said Fedeli. “Thanks to Dalton McGuinty’s botched energy plan, Ontario is being left at a competitive disadvantage for jobs and investment.”
It’s estimated the rare-earth metals refinery proposed by Innovation Metals will require an investment of more than $200 million and the creation of about 300 new jobs.
“That’s money that should be invested in Ontario, and jobs that should be employing people in Ontario,” Fedeli said.
“We have some 600,000 people out of work in this province and a government that has no plan to create jobs for them,” Fedeli added.
“Only the Ontario PC Party understands the need for urgent action to halt government overspending, get spiraling hydro rates under control and focus on job creation.”
