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: May 14

In this edition:

  • Niagara expands footprint in EV mobility sector
  • Canada’s 100 Best names 2 Niagara establishments on 2024 best restaurants list
  • City of Welland launches downtown revitalization project
  • High-density 532-unit complex for St. Catharines gets green light
  • NEXTNiagara ENGAGE: Innovating Solutions for Today’s Challenges in Employment
  • Focus on Finance & Economy

Niagara expands footprint in EV mobility sector

Today, the Government of Canada, Province of Ontario, Niagara Region, City of Port Colborne, St. Lawrence Seaway Management and other private sector partners came together to welcome Asahi Kasei to announce a $1.56 billion investment in the lithium-ion battery supply chain in Ontario.

Located along Highway 140, south of Highway 58A (formerly known as the Nyon Lands) in Port Colborne, the new state-of-the-art manufacturing facility represents the largest investment in Niagara to date.

In an official letter of congratulations, the GNCC called the announcement “a testament to the exceptional efforts of our local economic development team, led by George Spezza.”

“Niagara is set to continue to play a pivotal role as Ontario aspires to be for electric vehicles what Michigan has been for gasoline vehicles, Pennsylvania for steel, and Silicon Valley for computing,” the Chamber continued. “The future is bright, and we are enthusiastic about the transformative impact this project will have on our community.”

Click here to read more.

Canada’s 100 Best names 2 Niagara establishments on 2024 best restaurants list

Canada’s 100 Best magazine has released its 2024 restaurants list and a pair of Niagara food establishments are on it. Canada’s 100 Best says 150 judges voted to come up with this year’s list.

In Niagara, Restaurant Pearl Morissette, located in Jordan Station, was ranked sixth, and Oddbird, located in St. Catharines, came in at number 85.

Click here to read more.

City of Welland launches downtown revitalization project

Recognizing the importance of downtown revitalization in fostering economic growth, Welland City Council has approved hiring a consultant to update the Downtown and Health and Wellness Cluster Community Improvement Plan (Downtown CIP) as part of the 2024 capital budget.

The firm J.L. Richards & Associates has been selected to undertake the work. Leading the project from within the City of Welland are Grant Munday, director of planning and development services, and Lina DeChellis, manager of economic development.

Click here to read more.

High-density 532-unit complex for St. Catharines gets green light

A high-density development on a former church property at Scott and Geneva streets will be allowed to proceed, though St. Catharines city councillors were divided on whether it’s the right fit for the area.

Councillors voted 7-5 Monday night in favour of amending the city’s official plan and zoning bylaw for the vacant property, changing it to high-density residential from low-density residential to allow the 532-unit complex.

In a letter to Council, local M.P. Chris Bittle remonstrated with councillors in opposition to reconsider their position on the project.

Click here to read more.

Did you know?

The global electric vehicle market is expected to surpass $980 billion by 2028, growing at a compound annual growth rate of 24.5% from 2023 to 2028.

Focus on Finance & Economy

TD, RBC data point to slowing household spending in Canada

Consumer spending in Canada has continued to show signs of weakness over the past two months, according to fresh data from the country’s two largest banks.

Toronto-Dominion Bank and Royal Bank of Canada use their proprietary credit and debit card data to estimate retail sales growth in Canada. TD’s data, released Tuesday, show March sales jumping 0.8 per cent before dropping 0.9 per cent in April. RBC’s figures arrive at roughly the same conclusion for the two-month period, via a different path: the bank says spending by its customers dropped in March, then rebounded last month.

After combining March and April growth rates, TD’s figures point to a 0.1 per cent decrease in sales over the two-month period, while RBC’s show a 0.2 per cent decline, according to Bloomberg calculations.

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: