The sale of the Orillia Power Distribution Corporation (OPDC) to Hydro One closed on Tuesday, signifying the start of the two being brought together.
“Hydro One’s continued investment in our community and their proven philanthropic spirit will serve our community well now and into the future,” Orillia Mayor Steve Clarke said in a statement.
“Orillians will benefit from a one per cent reduction in their base distribution rates, which will be frozen for five years, along with the significant economic spin-off benefits generated by the construction of new facilities in West Orillia and the hundreds of jobs coming to our community.”
Hydro One plans to build a provincial warehouse and regional operations centre in the Home Business Park in west Orillia, next to the primary Ontario grid control centre currently under construction.
The company expects the move will create about 150 to 250 jobs at the facility and that Orillia will see a near-term economic impact of $200 million to $300 million.
“When driving down University Avenue in West Orillia, you can see the significant investment Hydro One is making in Orillia with the construction of the Ontario Grid Control Centre,” Orillia’s chief administrative officers, Gayle Jackson, said in a statement.
“With the closing of the sale of OPDC, Hydro One will further invest in our community by building operational facilities that will bring new jobs and growth to our city.”
Officials say OPDC employees will be transferred to Hydro One.
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