The construction of the dam cost $750 million, making it the largest project of its kind in the province of BC. The dam was named after Premier W. A. C. Bennett because his vision played a major role in the project initiation, development, and realization; the reservoir was named after the premier's trusted cabinet colleague: Ray Williston. The Gordon M. Shrum Generation Station at the W. A. C. Bennett Dam has the capacity to generate more than 13,000 GWh annually. At the time of its construction the powerhouse was the largest of its kind worldwide. In addition to the benefits related to the energy generated, the construction of the dam and the reservoir also provided economic opportunities for the province of British Columbia, for the newly founded provincially owned electric utility BC Hydro, and for the large number of workers. These workers were involved in the planning, construction, operation, and maintenance of the project. Considerable costs were involved in the government funded project, the clearing of the area for the reservoir, called the Trench, alone cost $5 million.