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Greater Niagara Chamber of Commerce

Daily Update: May 23, 2023

In this edition:

Industrial product and raw materials prices fall

Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), fell 0.2% month over month in April, and were 3.5% lower than April 2022. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), rose 2.9% on a monthly basis in April 2023 and fell 10.8% year over year.

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Minister of Transport and Niagara MPs to make announcement in Port Weller

The Minister of Transport, the Honourable Omar Alghabra, the Parliamentary Secretary to the Minister of Canadian Heritage and Member of Parliament for St. Catharines, Chris Bittle, and the Parliamentary Secretary to the Minister Indigenous Services and Member of Parliament for Niagara Centre, Vance Badawey, will make an important funding announcement at the Port Weller Dry Docks Shipyard tomorrow morning.

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Professional Engineers Ontario removes Canadian experience requirement

After legislation banned regulated professions from requiring Canadian work experience in more than 30 occupations, Professional Engineers Ontario (PEO) are the first association to remove it from their application criteria.

Roughly 300,000 jobs continue to go unfilled across the province every day, including thousands in engineering, costing billions in lost productivity. At the same time, studies have shown only a quarter of internationally trained immigrants in Ontario work in the regulated professions they trained for.

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Niagara Region commits to net-zero corporate greenhouse gas emissions goal by 2050

Niagara Regional Council has approved a net-zero corporate greenhouse gas emission goal by 2050 in principle. This target will support action on climate change mitigation and align Niagara Region with other municipalities working towards Canada’s net-zero carbon emissions plan.

Staff will be looking to achieve these results following the framework provided in the Partners for Climate Protection program. This five-step framework uses milestones to help reduce emissions and combat climate change. To date, the Region has successfully achieved two of the five corporate milestones, including a greenhouse gas emissions inventory for corporate operations and setting a greenhouse gas emissions reduction target.

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Minister Tassi celebrates start of Economic Development Week

This week, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario will be visiting companies across the Greater Toronto Area, and Mississauga to celebrate the important work both businesses and the federal government are doing to invest in and build a strong, growing economy that will strengthen the middle class and create well-paying jobs.

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Hourglass Barbershop improving after drive-by shooting in St. Catharines left some customers leery

The owner of a barbershop in downtown St. Catharines says his business has recovered better than he thought after several bullets were fired into the storefront last fall.

Hourglass Barbershop, at 5 James St., was the target of a drive-by shooting Oct. 26. Several bullets were fired into the storefront in the early morning hours.

Owner Stefan Ali said others’ support has helped him keep the lights on and the doors open during a dark period for the business.

“The GoFundMe the community started for us really helped us accelerate the process in terms of reopening,” said Ali.

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Convenience store industry labels credit card fee legislation a “broken promise”

The federal government has finalized agreements with Visa and Mastercard that will see some small businesses pay lower credit card transaction fees, however the move does little for Canada’s 23,000 convenience stores, says advocates.

“Today’s announcement on credit card fees is a failed attempt to rectify a major challenge facing small businesses in Canada, including our 23,000 local convenience stores and gas stations,” said a statement from the Convenience Industry Council of Canada. “Despite years of lip service to small businesses, the federal government has caved to credit card networks and the big banks who prefer the status quo. Make no mistake—the vast majority of small businesses will be excluded from this policy.”

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Vineland Research’s Darby McGrath named one of 2023 Influential Women in Canadian Agriculture

In recognition of the critical role that women play in agriculture from farming to research, community outreach, technology and more, Annex Business Media created the Influential Women in Canadian Agriculture (IWCA) program, a national competition that  recognizes six women annually who are driving the future of agriculture in Canada.

Vineland Research and Innovation Centre (Vineland) ism thrilled to acknowledge and congratulate Dr. Darby McGrath, Vice President, Research and Development, on being named as a successful 2023 IWCA recipient.

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Did you know?

More people visit Niagara Falls each year than the Eiffel Tower and the Colosseum combined.

Focus on Finance & Economy

Canada has highest household debt level in G7: CMHC deputy chief economist

Canada has the highest level of household debt in the G7, making its economy vulnerable to a global economic crisis, according to the country’s housing agency.

In an analysis published Tuesday, Canada Mortgage and Housing Corp. deputy chief economist Aled ab Iorwerth said that the country’s household debt has been rising “inexorably” due to rising home prices.

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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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