New hospital construction to boost Ottawa’s GDP by $2 billion
By hiring local contractors, creating a vast new workforce, and facilitating patronage to local businesses, The Ottawa Hospital’s New Campus Development stands to dramatically boost Ottawa’s bottom line. According to a new report by Deloitte, the project will inject nearly $2 billion into the local economy.
The analysis measures the impact of direct spending on construction of the state-of-the-art new hospital, as well as the resulting ripple effects through the local economy, for example when construction companies use that initial investment to purchase supplies, or workers buy lunch at nearby restaurants.
In addition to the $1.92 billion boost to the local GDP, the project will contribute $1.24 billion to Ottawa’s labour income and will independently create or sustain the employment of about 4000 full time equivalent jobs each year.