ST. JOHN’S—The funding agreement reached between the Furey government and Suncor is a blueprint for good jobs and can revitalize the sector, says Unifor.

“The investment in Terra Nova is a win for good jobs and a win for the people of Newfoundland and Labrador,” said Jerry Dias, Unifor National President. “Jobs, royalties, corporate taxes, GDP boost. There were a lot of reasons to say ‘yes’ to renewing Terra Nova.”

Unifor began sounding the alarm about the investment requirements of the East Coast energy sector last September. The federal government’s response later that month provided momentum for operators and the provincial government to enter more serious discussions about a new arrangement for the Terra Nova.

After the NL government seemed to backtrack on their initial equity offering, talks stalled and the fate of thousands of jobs suddenly seemed in question, said Unifor. Unifor and industry supporters mobilized to hold a June 14 rally to push the parties to find a resolution.

“It didn’t need to go down to the wire. There’s ample evidence that this province’s offshore industry is a good investment,” said Dave Mercer, Unifor Local 2121 President. “We look forward to working with government on getting energy workers back to work as soon as possible.”

Unifor is Canada’s largest union in the private sector, representing 315,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future.