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Greater Niagara Chamber of Commerce

Home / Daily Update  /  Daily Update: August 13 2024

Daily Update: August 13 2024

August 13, 2024 | Daily Update

In this edition:

  • Ontario Q1 finances reveal both revenues and deficit in line with projections
  • West Lincoln byelection is officially on
  • City of Niagara Falls accepting nominations for Volunteer Recognition Awards
  • Niagara advocates looking at new way to gauge poverty
  • SmartCentres Welland adding six ‘committed tenants’ to Woodlawn Road site
  • Shaver encourages everyone to help set Hope in Motion
  • Ontario’s ‘unofficial estimate’ of homeless population is 234,000: documents
  • Starbucks replaces its CEO, names Chipotle chief to head the company
  • Focus on Finance & Economy

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Photo credit: Maurizio De Mattei / Adobe Stock

Ontario Q1 finances reveal both revenues and deficit in line with projections

Today, the Ontario government released the 2024–25 First Quarter Finances, the first update on the province’s economic and fiscal outlook since the release of the 2024 Ontario Budget: Building a Better Ontario. In the first calendar quarter of 2024, Ontario’s real gross domestic product (GDP) increased by 0.7 per cent, after remaining unchanged in the fourth quarter of 2023, supported by higher exports and household spending.

Other key indicators throughout the report are on track with the projections in the 2024 Ontario Budget. The 2024–25 First Quarter Finances show the government is projecting a deficit of $9.8 billion in 2024–25, unchanged from the 2024 Ontario Budget forecast. Projections for government revenues are also aligned with the 2024 Ontario Budget forecast, projected to be $205.7 billion.

Click here to read more.

Photo credit: Township of West Lincoln

West Lincoln byelection is officially on

Those interested in having a voice in the affairs of West Lincoln’s municipal government can now submit their names.

The Ward 3 (Smithville) byelection has officially started, and nominations are now open and will be accepted until 2 p.m. on Friday, Sept. 20. Council passed a bylaw Monday (Aug. 12) to conduct a byelection.

Voters will be going to the polls Nov. 4 to fill a vacancy left by Terry Bell, who has been unable to attend to his council duties due to health issues.

Click here to read more.

Photo Credit: City of Niagara Falls

City of Niagara Falls accepting nominations for Volunteer Recognition Awards

Do you know a dedicated community volunteer? The City of Niagara Falls is accepting nominations for the annual Volunteer Recognition Awards until Friday, October 11, 2024, at https://niagarafalls.ca/awards.

The Niagara Falls Volunteer Recognition program provides an excellent opportunity to honour and celebrate the countless outstanding volunteers in the community. This year’s awards ceremony will take place on Wednesday, November 27th, at The Niagara Falls Exchange.

Click here to read more.

Photo credit: weyo / Adobe Stock

Niagara advocates looking at new way to gauge poverty

A novel approach to poverty is being examined to better help people struggling to make ends meet.

A report, “Poverty in Canada Through a Deprivation Lens,” released by Food Banks Canada sheds light on poverty in Canada and argues shifting from the current standard Market Basket Measure (MBM) to a Material Deprivation Index (MDI) can better identify poverty and its impacts.

Click here to read more.

Photo credit: Smartcentres

Shopping centre expansion: SmartCentres Welland adding six ‘committed tenants’ to Woodlawn Road site, including Taco Bell

Ongoing construction at SmartCentre Welland will add about 15,000 square feet of commercial space to the retail site when it opens for business in spring 2025.

Six units are being built across from the strip that includes a Mark’s, Dollar Tree and an LCBO outlet. As well, more parking will be provided in front of the new building, which will add — not take away — from total parking at the shopping centre.

Click here to read more.

Photo credit: Hotel Dieu Shaver / supplied

Shaver encourages everyone to help set Hope in Motion

Hotel Dieu Shaver Foundation has created a unique event that focuses on mobility inclusion – Hope in Motion. Taking place on Saturday, Sept. 14, 2024, Hope in Motion allows participants to set the challenge.

They will walk or wheel their way around the track at Canada Games Park, at their own pace, setting their own goal.

Click here to read more.

Photo credit: srdjan / Adobe Stock

Ontario’s ‘unofficial estimate’ of homeless population is 234,000: documents

The government of Ontario estimates nearly a quarter of a million people — roughly three of every 200 residents — are homeless, according to information contained in a housing ministry document.

The number is about nine times higher than the auditor general’s most recent estimate, and still likely drastically undercounts the true number of people experiencing homelessness in the province, experts say.

Click here to read more.

Photo credit: ManuPadilla / Adobe Stock

Starbucks replaces its CEO, names Chipotle chief to head the company

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday it’s replacing CEO Laxman Narasimhan with Brian Niccol, the chairman and CEO of Chipotle. 

Narasimhan, who spent a little more than a year leading Starbucks, will step down immediately, the Seattle coffee giant said. Niccol will become Starbucks’ chairman and CEO on Sept. 9. Starbucks’s chief financial officer Rachel Ruggeri will serve as interim CEO until that time.

Click here to read more.

Did you know?

The world’s largest tire manufacturer is Lego.

Focus on Finance & Economy

From NIMBY to YIMBY: How localized real estate investment trusts can help address Canada’s housing crisis

The housing crisis in Canada has reached a critical juncture. With rising real estate prices and a dwindling number of affordable options, it is crucial that Canada rapidly increases housing stocks in high-demand markets.

However, several key challenges hinder this necessary growth, including pervasive Not In My Backyard (NIMBY) sentiment, which refers to residents opposing proposed developments in their local area.

Existing homeowners often resist growth and urban densification from fears of increases in traffic and noise, decreases in property value and losing familiarity with the surrounding environment. Political and social factors, including the distrust of governments and developers, also play a role.

Click here to read more.

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.

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