Board of Trade Statement: Churchill River Agreement

The Board of Trade welcomes the expanded agreement between the Government of Newfoundland and Labrador, the Government of Quebec, and the Government of Canada on Churchill Falls. This project has enormous promise for the people of Newfoundland and Labrador through increased economic activity, power availability, jobs, and provincial revenue. We applaud the collaboration and partnership that has gone into the agreement, which could be transformative to Newfoundlanders and Labradorians as well as Canadians.

The Board of Trade also recognizes the leadership of the federal government in this partnership. By providing meaningful funding and support, our nation is investing in the largest clean energy investment in North America. We are encouraged by Prime Minister Carney’s acknowledgement of the significant development potential in Labrador, as exemplified by his referral of the Labrador Trough Clean Power, Critical Minerals and Infrastructure Corridor to the Major Projects Office.

We commend Premier Wakeham for opening the House of Assembly in lieu of holding a referendum. As the Board of Trade has consistently highlighted, the risk, time, and cost associated with a referendum would not position Newfoundland and Labrador to achieve the best result for Churchill Falls. Allowing for debate and consideration to occur in the context of the House of Assembly is an appropriate way for our elected representatives to review and discuss the terms of the agreement. We thank Premier Wakeham for hearing our concerns and allowing the agreement to be considered through the official venue of the House of Assembly.

Advancing the Churchill Falls project is good for business, good for workers, and good for our economy. The Board of Trade will be watching closely as this agreement is anticipated to be finalized in the months ahead. We remain committed to making Newfoundland and Labrador the best place to start, grow and operate a business.

Media Contact
Kirsten Butler
Manager, Advocacy and Policy
kbutler@bot.nf.ca | 587-334-0090