Absolutely. Thank you for the question, MP Baker.
In my travels across the country, and in working with my colleagues on provincial trades councils and working with owners and developers of projects, the list of projects that are being reviewed right now is unprecedented in Canadian history. They are waiting on this investment tax credit to help them get over the line in terms of financing these projects.
In Newfoundland and Labrador, there are five hydrogen projects going through a review. In Cape Breton, there are two hydrogen projects. One is pretty well close to a final investment decision, and another one is a little bit further behind. There's a clean energy project in Nova Scotia. There are clean energy projects in Quebec.
You heard from Pathways Alliance earlier that its carbon sequestration project, capping at around $25 billion at peak, will employ approximately 20,000 workers. Smaller modular reactors in New Brunswick and possibly in Alberta will employ 300 to 500 workers.
Thousands and thousands of jobs will be created through this investment tax credit once those companies have that certainty that they're going to be able to deduct that 30% from their capital expenditures. That's going to put them over the edge. It's also going to keep us competitive with the United States of America, which, by the way, has already put into place these investment tax credits. They are much richer than ours, and they have created over 200,000 jobs within 12 months.
When I say game-changer for construction workers, prevailing wages, more money in the jeans of Canadian construction workers, more opportunities, a great economic future and the path to net zero, this is winning legislation on multiple fronts.
I encourage you to get it done as quickly as possible.