When a Small Modular Reactor (SMR) comes online in a community, it can provide more than just clean, safe and reliable power. These are versatile facilities that can also produce heat, drinking water and other types of fuel. Most importantly, these compact nuclear power plants can stimulate multi-generational prosperity by creating thousands of jobs, bringing billions to the local economy and sparking a variety of new business ventures.
Heat, Hydrogen and H2O
Fundamentally, SMRs provide a steady supply of power. They require less on-going logistics than powering with fossil fuels and are not subject to changes in weather like wind and solar. This creates a stable foundation for homes and businesses, especially in remote locations.
When there is low demand for electricity, SMRs pivot to fulfilling other needs. They can provide clean heat for district heating systems, serving as a furnace for an entire neighborhood. SMRs can also power desalination plants, turning saltwater into fresh drinking water for areas facing scarcity.
They are also excellent for producing clean hydrogen, a key fuel for industries looking to reduce their carbon footprint. Some SMRs can even supply high-temperature steam for various industrial processes, replacing fossil fuels in manufacturing.
Economic and Employment Benefits
The construction and operation of SMRs create significant economic opportunities. For instance, building four SMRs at Ontario Power Generation’s Darlington site is expected to generate 18,000 jobs each year during its five-year construction phase. Once built, these SMRs will support 2,500 jobs annually for 60 years.
Similarly, a 300 MW SMR project in Tennessee is estimated to create over 16,400 jobs during its nine-year construction, averaging over 1,800 jobs per year. During operations, it would support more than 700 jobs annually. These are often stable, well-paying careers.
SMR projects also boost local economies by billions. The Darlington SMR project is projected to add $38.5 billion CAD to Canada’s GDP over 65 years, of which $35.1 billion CAD would stay in Ontario. Local and national governments will also benefit from an estimated CAD $4.9 billion in tax revenues. The Tennessee project expects to produce $14.7 million USD per year in state and local taxes during construction. These funds can be reinvested into vital public services like schools and healthcare.
Long-Term Local Stability
The long operational life of SMRs, typically 40 to 60 years, ensures lasting prosperity. They provide consistent, high-quality jobs for multiple generations. This stability helps families grow and build wealth in their communities. It also encourages long-term planning and investment for the future.
Part of this includes creating a stimulating environment for new small business ventures. Local companies can offer specialized maintenance, repairs, and technical support. There’s also a need for training programs to develop the skilled workforce. Services like logistics, catering, and local supply all see increased demand. This helps diversify and strengthen the local economy.
SMRs are more than just power plants. They are powerful tools for economic stability, social well-being, and environmental protection and can bring a more resilient future to communities around the world.
