In this edition:
- Ontario budget set for March 26; minister says no tax increases
- Building permits rebound in January following 11.5% drop in December
- Business insolvencies leap higher in January from a year earlier, led by bankruptcies
- Niagara-on-the-Lake extends Temporary Patio Program to 2025
- Niagara Region’s Adopt-a-Road program looking for volunteers and organizations
- Water systems, land, escarpment ‘unmistakably’ have made Niagara what is: NCO
- $400M development proposed for Beamsville
- Focus on Equity, Diversity & Inclusion
Ontario budget set for March 26; minister says no tax increases
Ontario’s finance minister says he will present the province’s next budget on March 26. Peter Bethlenfalvy says it will outline how the government is “rebuilding Ontario’s economy without raising taxes and fees or putting more burden on businesses and municipalities.”
When Bethlenfalvy presented an update last month on the province’s finances from the third quarter of this fiscal year, he projected Ontario would end the year with a $4.5 billion deficit.
Building permits rebound in January following 11.5% drop in December
Month over month, the total value of building permits in Canada rose 13.5% in January to $10.8 billion, rebounding after a decrease of 11.5% in December. The residential sector increased 12.6% to $6.5 billion in January, while the non-residential sector grew 14.8% to $4.2 billion.
On a constant dollar basis (2017=100), the total value of building permits was up 14.0% to $6.7 billion in January.
Business insolvencies leap higher in January from a year earlier, led by bankruptcies
Business insolvencies more than doubled in January compared with a year earlier as they also surpassed pre-pandemic levels for the month.
The Office of the Superintendent of Bankruptcy says there were 759 business insolvencies in January, up 42.4 per cent from December and up 129.3 per cent from January 2023.
That compares with 308 in January 2020, before the pandemic began.
Niagara-on-the-Lake extends Temporary Patio Program to 2025
t the February 27, 2024, Council Meeting, Town Council passed the Temporary Use By-law to allow the extension of restaurant and bar patios until February 28, 2025, subject to the Town’s Temporary Patio Program requirements.
The extension of the Temporary Use By-law allows for the continuation of the temporary patio program in Niagara-on-the-Lake for the 2024 season, for a maximum of 8 months, and the continued review of the program.
Niagara Region’s Adopt-a-Road program looking for volunteers and organizations
Niagara Region’s Adopt-a-Road program is looking for volunteer groups and organizations to help beautify their community and pick up litter along Regional Road rights-of-way.
Adopt-a-Road provides support for citizens, community and civic organizations, private businesses, and industry to help clean and beautify roads throughout Niagara. The program encourages cleaner, healthier environments and raises community spirit and pride with people taking an active role in their community.
For more information or to apply for the program visit to the Region’s Adopt-a-Road webpage.
Water systems, land, escarpment ‘unmistakably’ have made Niagara what is: NCO
A multi-year research project into Niagara’s history and economic development in its initial stages has found the region “has punched well above its weight in helping to shape and enrich Canada into the nation we know today.”
The project comes from a multi-year partnership between Brock University and the Wilson Foundation, facilitated by Brock’s Niagara Community Observatory (NCO), with the goal of mapping Niagara’s history and deepening understanding of the region’s economic and social development.
Economic developers, historians, educators, business leaders and experts gathered for a closer look at the team’s initial findings this week for its project called Mapping the Economic History and Assets of Niagara in a Changing World.
$400M development proposed for Beamsville
A hotel and event centre along with commercial and residential development has been proposed for a vacant parcel of land in Beamsville near the QEW.
“It’s an exciting project for Beamsville,” said William Heikoop, planning manager at Upper Canada Planning and Engineering.
The St. Catharines firm is the planning consultant and agent for developer QEW-EX64-10A Inc. of Brampton that is looking to build Lincoln Lakeview on about four hectares (10 acres) of land on the east side of Ontario Street and North Service Road in Lincoln.
Did you know?
Focus on Equity, Diversity & Inclusion
The ‘She-Covery’: Women’s employment rebounds post-pandemic, but challenges remain
With the female employment rate in January 2023 hitting a record high of 82 per cent, women have made a successful recovery back into the workforce in what some are calling the “She-Covery.”
“Women’s employment has rebounded from the loss that we experienced in 2020 and 2021, so this is really good to see,” says Mishka Balsom, president of the Greater Niagara Chamber of Commerce.
According to Statistics Canada’s labour force survey for January, the employment rate of core-aged women (25 to 54 years old) in Canada was 81.1 per cent, while the employment rate of core-aged men was 87.2 per cent.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
