P3s provide $51B boost to Canada’s economy
March 24, 2014 by STAFF REPORT
Public-private partnerships (P3s) generated $51.2 billion and 290,680 full-time jobs from 2003 and 2012, according to an economic impact study conducted by InterVISTAS.
The report notes that with the public sector facing aging infrastructure, population growth and budget constraints, P3s are bringing together the expertise of both the private and public sector to expand the number and scale of infrastructure investments.
Based on a review of P3s in operation or under construction from 2003- 2012, the report highlights the following economic impacts:
- $32.2 billion in total income/wages and benefits, including $19 billion in direct
income/wages and benefits
- $48.2 billion in total gross domestic product (GDP), including $25.1 billion in direct GDP
- $92.1 billion in total economic output, including $51.2 billion in direct economic output
- $9.9 billion in cost savings
- $7.5 billion in tax revenue to government
P3s began in Canada in the early 1990s and there are now 206 projects; those under construction or in operation are worth more than $63 billion. They are building critical infrastructure across a wide range of sectors, including bridges, roads, urban transit,
hospitals, airports, schools, social housing, courthouses, detention centres, and water and wastewater systems.
A backgrounder, executive summary and copy of the full report are available on the CCPPP website at: www.pppcouncil.ca/p3impact.
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