In this edition:
- GNCC releases 2025 provincial election platform
- NEXTNiagara offers provincial election guide
- Raw material prices now up 11.8% year-over-year as crude energy costs soar
- Number of EI claimants up year-over-year, but reduced from August peak
- Loblaw set to open 80 stores in 2025 as part of $10B investment
- Alectra Inc. employees raise $200,000 for United Way’s food security programs
- Focus on Finance & Economy
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Photo credit: bizoo_n / Adobe Stock
GNCC releases 2025 rrovincial election platform promoting investment for business growth
The 2025 provincial election takes place in an uncertain and volatile business environment. 2024 saw inflationary pressures and rising interest rates, and as we have begun to solve those problems, we now face an “America First” trading policy with our largest trading partner that threatens to sabotage our economic success.
In this environment, the next Government of Ontario can support success with wise investments that will drive growth by themselves in any business climate. Long-term gains can still be realized even though the short-term future is uncertain.
In this election, the GNCC is focused on:
- businesses growing their international and interprovincial trade connections
- commerce-supporting infrastructure, such as all-day GO train service or the Niagara airport, that will support growth
- post-secondary institutions as creators of our future workforce and drivers of business-focused research and innovation
- tourism promotion that will bring the world to Niagara
- housing policies that will unlock the potential of developers to build the housing Niagara needs
- relieving financial pressure on municipal governments and enabling them to support businesses better with services and infrastructure
Click here to read the platform.
Picture credit: Brad Demers / Greater Niagara Chamber of Commerce
NEXTNiagara offers provincial election guide
No matter where you live in Ontario, voters (18+) will head to the polls on February 27, 2025 to elect Members of Provincial Parliament (MPPs) to the Legislative Assembly of Ontario, and form our provincial government. NEXTNiagara, a GNCC Advisory Council that empowers young professionals by representing, engaging, and amplifying the voice of Niagara’s 40 and under community, has prepared this helpful guide to the provincial election.Click here to read more.
Photo credit: Pawinee / Adobe Stock
Raw material prices now up 11.8% year-over-year as crude energy costs soar
Photo credit: skrotov / Adobe Stock
Number of EI claimants up year-over-year, but reduced from August peak
On a year-over-year basis, the number of Canadians receiving regular Employment Insurance (EI) benefits was up by 12,000 (+2.6%) in December. However, the number was little changed month-to-month (-0.4%; -1,900) and down slightly (-3.1%; -15,000) from the recent peak in August.
The number of regular EI beneficiaries increased in 4 of the 10 major occupation groups in December, led by recipients who last worked in business, finance and administration occupations (+5,000; +8.9%) and natural and applied sciences and related occupations (+3,700; +11.6%).
Photo credit: JHVEPhoto / Adobe Stock
Loblaw set to open 80 stores in 2025 as part of $10B investment
Loblaw says it’s planning to open 80 new grocery and pharmacy stores this year, about 50 of which will be discount grocers.
The company says the new locations are part of an approximately $10 billion investment over the next five years, including $2.2 billion this year.
Photo credit: Dragana Gordic / Adobe Stock
Alectra Inc. employees raise $200,000 for United Way’s food security programs
Alectra employees united to raise a total of $48,000 through regular payroll deductions to support the United Way’s food insecurity programs. Alectra made an additional corporate contribution of approximately $152,000, bringing the total donation amount to $200,000.
Focus on Finance & Economy
Around 60% of Canadians renewing their mortgages this year expect higher monthly payments
More than half of Canadians set to renew their mortgages in 2025 expect to see their monthly payments rise, according to a new Royal LePage survey, with a vast majority of them saying the increase will put financial strain on their households.
The survey of 1,340 Canadians who are set to renew their mortgages this year, conducted by Leger Opinion, found that 57 per cent expect their monthly payments will increase upon renewal. Of those expecting to face higher monthly payments, 81 per cent say the rise will put a financial strain on their households, with 34 per cent reporting that the strain will be “significant.”
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.
