Sydney is very well known for our cruise industry. Cape Breton Island is a beautiful island, and we work very well with the Atlantic Canada ports, our partner ports. We are the home of the iconic big fiddle that maybe some people know about.
Cruise generates approximately $70 million in direct and indirect economic benefits island-wise, but cruise is not the only activity in Sydney Harbour. Sydney Harbour is home to Marine Atlantic, which is the constitutionally mandated service that connects Newfoundland and Labrador to Canada for year-round service. The port receives coal for Nova Scotia Power's power plant for energy generation, and we receive petroleum products at our terminal. There's a lot of existing activity around the harbour.
The key thing is a recent federal announcement by the Canadian Coast Guard that the port of Sydney would be the preferred location for the development of the maintenance base for the polar class icebreakers. That is a significant announcement for Sydney Harbour. It would be co-located adjacent to the Canadian Coast Guard Academy.
Sydney has ample land for development. We see further development with respect to northern supply and support, defence, and marine services, and we have seen significant activity with respect to supporting offshore wind activities for projects along the northeastern seaboard of the U.S.
That is what we are seeing for Sydney as imminent opportunities. What we need is to modernize our governance to provide the foundation to support all of these potential developments and current operators.