Your browser is not supported

Your browser is too old. To use this website, please use Chrome or Firefox.

Greater Niagara Chamber of Commerce

Daily Update: February 3, 2023

In this edition:

Ontario releases first-ever emergency plan

Today, the Ontario government released its first-ever Provincial Emergency Management Strategy and Action Plan, helping to ensure Ontarians are prepared for and safe during future emergencies like cyber security threats, pandemics or natural disasters.

The plan, the first of its kind in Canada, sets a foundation for emergency management in Ontario and builds on lessons learned from past emergencies including the COVID-19 pandemic, which represented the single largest provincial emergency in decades.

Developed in partnership with emergency management partners, including municipalities, First Nations partners and provincial ministries, the plan highlights key actions the province is taking to keep Ontario in a state of constant readiness and preparedness. It also outlines initiatives to augment and support municipal and First Nations emergency strategies.

Click here to read more.

One in five Ontario property owners are investors: Statistics Canada

The article “Residential real estate investors and investment properties in 2020,” released today, is the first of a series on real estate investors, published in Housing Statistics in Canada. With this article, the Canadian Housing Statistics Program is publishing data on the profile of investors in the real estate market and the residential properties they owned in 2020 in Nova Scotia, New Brunswick, Ontario, Manitoba and British Columbia for the first time.

The proportion of investors among owners varied from 20.2% in Ontario to 31.5% in Nova Scotia.

Among houses and condominium apartments, just under one in five properties was used as an investment in British Columbia, Manitoba, Ontario, New Brunswick and Nova Scotia combined.

Condominium apartments were used as an investment more often than houses (single-detached houses, semi-detached houses, row houses, and mobile homes). Ontario topped the list with the highest rate of condominium apartments used as an investment, at 41.9%.

Click here to read more.

Zimmermann: Landlords needed to tackle west Niagara affordability crisis

Elisabeth Zimmermann, executive director of the YWCA Niagara Region, made a speech to Lincoln council on Jan. 30, outlining the affordable housing situation in the town and west Niagara.

The YWCA is on the front lines of the affordable housing crisis, providing shelter to women, men and gender-diverse people across Niagara.

Among other programs, Zimmermann said that the YWCA runs a transitional housing program in west Niagara. In the past year, the West Niagara Affordable Housing (WNAH) program provided housing to 14 adults and 17 children.

They’re helped by six property owners who provide the program with nine units.

However, she said the program needs to be expanded to help accommodate those on the wait-list. There are currently 10 individuals on the wait-list for affordable housing in the community.

Click here to read more.

Explained: Lincoln’s new tourism partnership with St. Catharines

The urban vibes of St. Catharines and the rural charms of Lincoln could be a match made in heaven for tourists, say Lincoln town staff.

That’s why they’re proposing a new joined-up tourism organization, connecting the two locations for tourists.

Tourism is one of the most important sectors in Lincoln’s economy, but town staff believe that, by teaming up with St. Catharines, it can be taken to the next level.

In order to do so, town staff are proposing a new destination marketing organization (DMO). But what is a DMO, how will it help boost tourism in the area, and what will it take to start up?

Click here to read more.

Weeklong Brock event to inspire next generation of women in STEM

Women working in science, technology, engineering and mathematics (STEM) will gather at Brock University next week with the goal of inspiring the next generation.

The weeklong Women in STEM event, which is free and open to the public, will see women share their journey in their respective fields, including how they got to where they are today, and challenges and opportunities experienced along the way.

Sessions will be offered in person and online from Monday, Feb. 6 to Friday, Feb. 10, touching on a variety of issues that affect women, both academically and professionally.

Click here to read more.

Pre-merger notification transaction-size threshold to remain at $93M in 2023

The Competition Bureau confirmed today that in 2023 the pre-merger notification threshold relating to transaction size will remain unchanged following a decision by the Minister of Innovation, Science and Industry to maintain the current threshold of $93 million.

Under the Competition Act mergers of all sizes and in all sectors of the economy are subject to review by the Commissioner of Competition. The Competition Bureau must generally be given advance notice of proposed transactions when the target’s assets in Canada or revenues from sales in or from Canada generated from those assets exceed $93 million, and when the combined Canadian assets or revenues of the parties and their respective affiliates in, from or into Canada exceed $400 million.

Click here to read more.

Focus on Technology

Why your company needs an innovation strategy in 2023

Almost a decade ago, Harvard Business School professor Gary Pisano famously wrote that companies should consider creating an innovation strategy. Today, an innovation strategy is not just an optional nice thing to have — it’s a requirement for companies that want to be successful.

With significant post-pandemic inflation and interest rates climbing to new highs, the big banks are warning of a recession in 2023.

This, coupled with the longstanding impacts of intense global competition, fickle consumers, rigorous regulation, environmental degradation and disruptive technologies, has companies looking to make the most of these uncertain times. An innovation strategy is exactly how companies can accomplish this.

Click here to read more.

If you still aren’t sure what ChatGPT is, this is your guide to the viral chatbot that everyone is talking about

Since OpenAI released its blockbuster bot ChatGPT in November, users have casually experimented with the tool, with even Insider reporters trying to simulate news stories or message potential dates.

To older millennials who grew up with IRC chat rooms — a text instant message system — the personal tone of conversations with the bot can evoke the experience of chatting online. But ChatGPT, the latest in technology known as “large language model tools,” doesn’t speak with sentience and doesn’t “think” the way people do.

That means that even though ChatGPT can explain quantum physics or write a poem on command, a full AI takeover isn’t exactly imminent, according to experts.

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.

Share this: