In this edition:
- New Deloitte report proposes wine industry policies to bring billions in growth
- New deal for Windsor EV battery plant worth $15B in tax breaks, Ontario minister says
- Lincoln businesses encouraged to apply for 2023 Niagara Benchlands Destination Development Fund
- Infrastructure work to impact weekend GO train service between Niagara and Toronto
- Meta launches Threads, a social media platform to rival Twitter
- Quebecor to pull ads from Facebook, Instagram after news access halted
- Canadian trade balance goes from surplus to largest deficit since 2020
New Deloitte report proposes wine industry policies to bring billions in growth
In a first-time partnership, Ontario Craft Wineries, Tourism Partnership of Niagara and Wine Growers Ontario have come together to commission a Deloitte report that reveals the Ontario wine sector is well positioned to drive sustainable economic growth for the region, the province and the country.
It starts by looking at and learning from the world’s leading tourism destinations. Premium wine industries are at the centre of so many of these vibrant, world-class travel hot spots. Wine is a vital catalyst for their economic growth, reaching far beyond the vast vineyards to help: grow a flourishing tourism sector; advance sustainable farming practices; drive transportation and manufacturing; kickstart new construction and infrastructure projects; stimulate and inspire exciting food, hospitality, and cultural experiences.
New deal for Windsor EV battery plant worth $15B in tax breaks, Ontario minister says
The deal between Stellantis and LG Energy Solutions to continue construction on the NextStar electric vehicle (EV) battery plant could be worth up to $15 billion in tax breaks for the project, the province said Wednesday night.
Victor Fedeli, minister of economic development, job creation and trade, told CBC News the province would provide up to $5 billion in tax breaks based on production over a 10-year term. He said the other $10-billion in tax breaks would come from the federal government.
“It’s not like the incentive money that the province and the feds delivered to the battery company,” he said. “We invested $500 million in capital. This is like a performance incentive or a tax break. It’s not a cheque per se.”
Lincoln businesses encouraged to apply for 2023 Niagara Benchlands Destination Development Fund
The Niagara Benchlands Destination Development Fund has opened for the 2023 season to support tourism-based businesses and organizations in Lincoln with much-needed financial aid to assist in the development, enhancement and expansion of tourism product and offerings in the destination. The Fund was launched in 2022 and aligns with the Town’s goals of fostering the growth and economic prosperity of Lincoln’s tourism sector.
Tourism-based businesses and organizations located within the municipal boundaries of the Town of Lincoln are eligible for funding. These include for-profit businesses, not-for-profit businesses, public sector agencies, and private sector agencies whose business operations support Lincoln’s diverse tourism economic value chain.
Infrastructure work to impact weekend GO train service between Niagara and Toronto
In order to accommodate infrastructure work on the Lakeshore West corridor, buses will be replacing GO trains between Oakville station and West Harbour station in Hamilton. This means that anyone travelling from Niagara to Toronto on the train will have to depart and hop on a bus at Burlington GO.
The disruption will begin on Friday, July 7 at 9 p.m. and continue until the end of the service on Sunday, July 9.
Meta launches Threads, a social media platform to rival Twitter
Meta launched its microblogging app Threads on Thursday, the latest among several platforms that have been designed to rival Twitter as users jump ship from the beleaguered social media site.
The company behind Instagram and Facebook pitched Threads as an app that will do for text and dialogue what Instagram did for photos and video.
“There should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn’t nailed it. Hopefully we will,” Meta CEO Zuckerberg said on Threads, where he now has a million followers.
Quebecor to pull ads from Facebook, Instagram after news access halted
Telecom and media firm Quebecor said on Wednesday it will pull its ads from Facebook and Instagram following Meta Platforms’ decision to stop access to news on both social media platforms in Canada over a law requiring payments to local news publishers.
The Online News Act, or Bill C-18, was introduced in April last year and lays out rules to force companies such as Meta and Alphabet-owned Google to negotiate commercial deals and pay news publishers for their content.
Google and Meta previously said they would block access to news articles in Canada if the legislation was passed. It was passed last month.
Canadian trade balance goes from surplus to largest deficit since 2020
In May, Canada’s merchandise imports rose 3.0%, while exports decreased 3.8%, Statistics Canada reported today. With imports and exports posting strong variations in opposite directions, Canada’s merchandise trade balance went from a $894 million surplus in April to a $3.4 billion deficit in May, the largest deficit since October 2020. In proportion of total trade, comparable changes in the trade balance have been observed in the past.
Exports of energy products and farm, fishing and intermediate food products were responsible for more than two-thirds of the retreat. In real (or volume) terms, exports decreased 2.5% in May. Exports of energy products fell 7.3% in May, in large part because of lower prices. Since the record reached in June 2022, export values for these products have been generally trending downward. Following an increase of 3.6% in April 2023, crude oil exports fell 8.3% and contributed the most to the decline in exports of energy products in May.
Did you know?
Focus on Equity, Diversity & Inclusion
What is the pay gap between persons with and without disabilities?
Employment and income experiences for persons with disabilities often differ from persons without disabilities. Barriers to accessibility within these areas often lead to lower employment rates and decreased income levels for persons with disabilities, in relation to persons without disabilities, which aligns with the study titled “A demographic, employment and income profile of Canadians with disabilities aged 15 years and over, 2017.” Examples of barriers include inaccessible technology, lack of materials in alternate formats, physically inaccessible spaces, and discriminatory attitudes towards persons with disabilities. The Accessible Canada Act (ACA) aims to eliminate the barriers in seven priority areas in Canada by 2040; one of the priority areas is employment. Eliminating barriers within employment leads to increased employment opportunities, resulting in increased income, reduced labour shortage, and helps economic prosperity.
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.
