Real economic growth in Thunder Bay will ramp up significantly over the next two years, thanks to the construction of the new jail.

The Conference Board of Canada’s updated economic outlook for the city predicts that the $1.2 billion dollar project off Highway 61 “will electrify” the local economy, even as Canada’s economy cools.

“This is a huge project for the area. Real GDP growth will accordingly ramp up to 3.6 per cent in 2023 and 4.1 per cent in 2024,” states the report released Tuesday.

It notes that these figures are up sharply from the board’s previous forecast of real GDP growth of only 1.8 per cent t his year and 0.9 per cent next year.

The 345-bed jail is scheduled to be completed in late 2026.

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