MONTREAL, Feb. 27, 2012 /CNW Telbec/ - SECOR, a strategy consulting firm, released on February 24th a study that estimates the economic benefits that will stem from activities undertaken under the Plan Nord, in particular in the mining and energy sectors, as well as from infrastructure development.
Economic benefits of $148B
The primary authors of the study, Jean-Pierre Lessard and Guillaume Caudron, both managers at SECOR, estimate that these projects will generate $148B in economic benefits over 25 years.
Wealth creation stemming from the Plan Nord will reach about $5.9B per year, or 1.8% of Quebec's GDP. The projects could sustain 37,000 jobs per year, at an average annual salary of $65,000. Each job created in the North should result in another being created in the South.
The manufacturing sector and professional services will mostly benefit from the construction related activities, while the mining and public service labour force will benefit the most from the impact of activities related to operations.
Positive factors and trends to watch for
Some dynamic factors, such as the development and integration of the mining sector, upstream with equipment, or downstream with the transformation of developed resources, constitute levers that can maximize these benefits. Inversely, other factors such as the cyclical nature of the mining industry, currently on an upswing, or the challenge of finding sufficient skilled labour, could also slow the development of some projects.
Beyond the marketing operation, the Plan Nord is above all a necessary effort to facilitate and coordinate, and thereby accelerate the implementation of tangible projects and maximize the resulting economic benefits, which will enable all of Quebec to benefit from the wealth developed within its territory.
The complete study is available at the following address: www.groupesecor.com
SECOR is the largest independent business and organizational strategy consulting firm Canada. SECOR has been advising and coaching top-management teams in planning and implementing strategy for over 35 years. SECOR has over 150 professionals, and offices in Montreal, New York, Paris, Quebec City, Toronto and Vancouver. www.groupesecor.com
For further information:
Jean-Pierre Lessard / Guillaume Caudron
Tel: 514 861-9031
E-mail: [email protected]