In this edition:
- Niagara firms receive $6.7m investment from Government of Ontario
- Niagara business leader Jenn Harper joins Canadian Chamber of Commerce panel
- Rand Estate by-law amendment referred to Ontario Land Tribunal
- Canada announces over $9 million for new affordable homes in Port Colborne
- Industrial product and raw material prices down 2.7% year-over-year
- CEBA repayment deadline is Thursday. What do businesses need to know?
- Canada Post announces shakeup: IT services group sold to Deloitte
- Cogeco Communications ranked among world’s 100 most sustainable corporations
- Competition Bureau launches new site to help businesses comply with laws
- Focus on Finance & Economy
Niagara firms receive $6.7m investment from Government of Ontario
The Ontario government is supporting $65 million in investments by three companies to boost local manufacturing and create 46 new, good-paying jobs in the Niagara Region. As part of these investments, the province is providing the companies with $6.7 million in support through the Regional Development Program (RDP).
Stanpac Inc. will increase the efficiency of its facility in Smithville, including creating a machine shop to service all machinery in-house.
AMSI Inc. will invest about $20 million to construct a new 67,000 square-foot manufacturing facility to improve manufacturing processes for large, complex equipment.
St. David’s Cold Storage is investing $9 million to expand its facility and double its refrigerated storage space.
Applications are now being accepted for the next intake round of RDP funding until January 25, 2024.
Niagara business leader Jenn Harper joins Canadian Chamber of Commerce panel
Small businesses are the heart of the Canadian economy, and they are continually finding new ways to navigate through a new “click-and-mortar” reality. At the Canadian Chamber’s upcoming event, a panel of leaders will dive into the insights of Canadian small business owners and experts who have not only adapted, but thrived in our ever-evolving business landscape.
Jenn Harper, the visionary Founder and CEO of Cheekbone Beauty Cosmetics INC., is a beacon of empowerment. Leading a digital direct-to-consumer brand, Jenn’s mission is to amplify Indigenous youth’s self-worth while championing sustainability through Life Cycle Thinking (LCT).
Rand Estate by-law amendment referred to Ontario Land Tribunal
In a statement issued today, the Town of Niagara-on-the-Lake reported that the Ontario Land Tribunal (OLT) will hear appeals concerning the Zoning By-law Amendment, Plan of Subdivision and Heritage Planning Applications related to 200 John Street East and 588 Charlotte Street (“the Rand Estate”).
The hearing on the Rand Estate is scheduled for an eight-week period starting on March 25, 2024. The list of issues for the OLT to consider is lengthy, the Town reports, and legal and expert witness costs will be significant.
Canada announces over $9 million for new affordable homes in Port Colborne
On Tuesday, January 16, the federal government announced over $9 million to help build 41 affordable homes in Port Colborne.
The announcement was made by Vance Badawey, Member of Parliament for Niagara Centre, and Parliamentary Secretary to the Minister of Transport — on behalf of the Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities — alongside Jim Bradley, Regional Chair of Niagara Region, and Bill Steele, Mayor of the City of Port Colborne.
Industrial product and raw material prices down 2.7% year-over-year
New data released by Statistics Canada today indicates that the prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), fell 1.5% month over month in December and were 2.7% lower than December 2022. This is the third consecutive monthly price decrease and the largest since August 2022, indicating that high raw material prices seen during the COVID-19 pandemic may be returning to normal.
Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), declined 4.9% on a monthly basis in December 2023 and decreased 7.9% year over year.
CEBA pandemic loan repayment deadline is Thursday. What Canadian businesses need to know
This Thursday is a significant date for many Canadian businesses who received assistance from the federal government at the height of the pandemic.
Businesses that were eligible to receive a Canada Emergency Business Account loan have until Jan. 18 to repay the money, interest-free, and receive loan forgiveness for up to a third of the cost.
The CEBA program, which ran from April 2020 to June 2021, provided small businesses and non-profit organizations interest-free loans of up to $60,000 to help them cover operating costs.
Canada Post announces shakeup: IT services group sold to Deloitte
Canada Post announced that its IT shared-service provider, Innovapost, will be sold off to Deloitte Canada.
As part of the agreement, Deloitte will deliver and support Canada Post’s day-to-day IT operational services.
“Today is the start of an exciting journey to transform Canada Post’s information technology model so that we can better meet the demands of our customers, particularly in the competitive parcel market,” said Doug Ettinger, president and chief executive officer, Canada Post.
Cogeco Communications ranked among world’s 100 most sustainable corporations
Cogeco Communications is pleased to announce that, for a fifth consecutive year, it has been recognized among the world’s 100 most sustainable corporations by Corporate Knights. This year, the Company ranks 73rd in the Global 100 Most Sustainable Corporations in the World list, which is based on a rigorous assessment of 6,733 companies with more than US$1 billion in revenue.
Click here to read more.
Competition Bureau launches new site to help businesses comply with laws
The Competition Bureau of Canada has launched a new online hub with resources to help businesses comply with laws related to competition and labelling.
The federal agency announced its new Compliance Hub on Wednesday.
In a statement, the bureau and the hub will replace its Corporate Compliance Programs Bulletin, which was initially published in 2015.
Did you know?
The first Canadian post office opened in 1753 in Halifax.
Focus on Finance & Economy
What Canadian investors need to know about bitcoin ETFs
Bitcoin made headlines this week after U.S. regulatory changes made investing in the cryptocurrency more accessible – and experts say investors should be knowledgeable about the industry and understand the risks before diving in to cryptocurrency and related products.
On Wednesday, the U.S. Securities and Exchange Commission approved 11 exchange-traded funds (ETFs) that invest directly in bitcoin, with many opening trading platforms the next day.
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.
