I talked about two of the projects that are coming into commercial production in 2023 in our sector. Those started construction in 2014 and 2015. If you're going to build a $5-billion, $7-billion or $10-billion chemistry facility, that's a five- to seven-year activity. That's why we asked, and it was present in the fall economic statement of 2018, that accelerated capital cost allowance be included, and it was. However, it begins to transition out in 2023.
We've heard from Finance that they didn't see industry really respond, but we did have this thing called COVID, and nobody invested at all. Now, if you look at these dozen to 15 projects in our sector that are being proposed today, you're at a disadvantage. If those were in the U.S., you'd have the accelerated capital cost allowance for the whole five to seven years to build that. In Canada, even if you start putting shovels in the ground and buying material today, it will start to deteriorate in 2023. You don't get the full advantage of it.
We would say that given the COVID interruption, we think it was a great idea and it should be revisited and extended for another capital cycle of 10 years, especially because it's already available in the U.S.