At an event co-hosted by the Sarnia Lambton Chamber of Commerce on Friday, February 15, representatives of the Canadian Fuels Association, the trade organization representing the refining industry, presented the results of a study outlining the economic impact its member companies deliver to Canadians coast to coast.
The noon-hour event included introductory remarks by Chamber president and CEO Shirley de Silva (pictured), followed by an overview of the Southwest Ontario Economic Impact Study delivered by Lisa Stilborn, vice president (Ontario) of the Canadian Fuels Association.
An executive summary of the study’s findings can be seen HERE.
Members of the Canadian Fuels Association, which is heavily represented in Sarnia-Lambton, account for more than 12,000 direct, indirect and induced jobs in the province.
The industry also:
—Has $1.25 billion in annual operating expenditures.
—Contributes to the economic support of some 1,600 suppliers in an integrated supply chain.
—Provides a $6.7 contribution to Canada’s Gross Domestic Product (GDP).
—Is the source of $320 million in federal and provincial tax revenue.
—Accounts for $550 million in feedstock for the chemical, plastic and rubber industries.
“As we discovered in a new light, this Economic Impact Study is proof positive that the refining industry continues to represent one of the key engines of prosperity, not only for our region but for the entire country,” said Shirley de Silva, president and CEO of the Chamber.