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Greater Niagara Chamber of Commerce

Daily Update: January 9, 2023

Construction sector rebounds after two months of declining permits, Lincoln commences budget review, will consider fees and charges, and more.

In this edition:

Construction sector rebounds after two months of declining permits

The total value of building permits in Canada jumped 14.1% in November to $11.0 billion, rebounding after two consecutive monthly losses, Statistics Canada reported today.

The value of residential permits increased 13.7% to $7.1 billion nationally in November.

The value of building permits in the multi-family dwelling component was up 19.0%. Ontario contributed to much of the growth with 21 permits for new condominiums and apartments valued at over $10 million. The total number of planned dwelling units in Ontario grew 60% month over month, returning to historical averages reported over the last three years.

The single-family dwelling component advanced 7.1% following four consecutive monthly declines. Gains were posted in seven provinces. Despite the increase in value, the number of dwelling units posted its sixth consecutive monthly decrease.

The total permit value of the non-residential sector rose 14.9% to $3.9 billion in November.

The value of permits in the institutional component strongly increased (+40.6%). Much of the gain was because of a new courthouse planned for development in Toronto valued at just over $500 million. This project helped offset losses posted in six provinces.

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Lincoln commences budget review, will consider fees and charges

Lincoln Council has announced that it has commenced discussions to adopt the 2023 Budget for the Town of Lincoln and its associated Boards and Committees. As part of the budget review process, Council will consider the 2023 Fees and Charges By-law and the establishment of the 2023 rates and fees for all Town programs and services which includes rates and fees for Planning & Building, Water and Wastewater.

The Committee of the Whole meeting on Wednesday, January 25, 2023 at 6:00 p.m. will include the public meeting for the consideration of all the 2023 rates and user fees and charges for the Town of Lincoln.

The public are invited to submit delegation requests and/or written comments related to items on the agenda to no later than 9:00 a.m. on the Thursday before the scheduled meeting. All delegation submissions will be provided to the Mayor and Council prior to the meeting and will form part of the public record.

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Gourmet at Home latest recipient of Main Street grant

Port Colborne would like to congratulate Gourmet at Home on being a recipient of a My Main Street non-repayable funding contribution of $10,000.

This contribution will allow Gourmet at Home to support findings from the market research provided by My Main Street to drive economic growth and attract new customers to its business and the Port Colborne community.

Through its market report, Gourmet at Home learned that the average spend on food from restaurants in this part of the community is roughly $3,000, which is 17 percent higher than the rest of Port Colborne. Also, target segments are most likely to be in the 50-75-year age group with low skepticism towards small businesses. There is also a strong focus by residents on an ecological lifestyle and a priority for purchasing items based on environmental concerns.

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Drug shortage across Canada has pharmacists calling for stronger supply chain

People across the country are struggling to find adult cold, cough and flu medications, right on the heels of a children’s fever and pain medication shortage that still hasn’t been fully resolved.

“I think this is a bit of a wake-up call,” said Joelle Walker, vice-president of public and professional affairs at the Canadian Pharmacists Association.

In December, the association informally polled pharmacists across Canada and found there was “still some strain” on the supply of pediatric pain and fever drugs, even after the federal government imported more to help ease the shortage.

Many pharmacists reported being either completely out of adult cold and flu medications or had “minimal supply.”

There haven’t been any identified issues on the manufacturing end that would account for these shortages, said Mina Tadrous, an assistant professor of pharmacy at the University of Toronto who specializes in drug policy and surveillance of medications.

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3 useful tips for CNC rapid prototyping in manufacturing

CNC rapid prototyping is an excellent option when clients want to assess how well proposed designs will work and do that in a tight timeframe. However, efforts are more likely to proceed smoothly when people follow specific tips.

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Focus on Small Business

For financial stability, we need more insurance on customers’ bank deposits

Deposit insurance provided by the Canada Deposit Insurance Corp. is an important contributor to the stability of Canada’s banking system. If a participating financial institution goes under, CDIC ensures that people’s savings are insured up to a certain amount and remain accessible.

That’s why it is concerning that nearly 20 years have passed since the last time a federal budget (2005) increased coverage for Canadians to $100,000 per insurable category, up from $60,000 with the cost borne by participating financial institutions.

While $100,000 may sound sufficient, it is far lower than other developed countries, and that figure has been eroded by inflation, which reduces purchasing power and the value of money – making a limit of $100,000 even lower in real terms.
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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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