In this edition:
- Niagara Community Foundation named one of Canada’s Top 50 Equitable Funders
- Developer proposes two apartment towers at the edge of Tourist District in Niagara Falls
- Need to ‘catch up’ on capital investment drives Port Colborne tax hike
- Grand re-opening of Jordan Village marks major community transformation
- Identified top candidate doesn’t pan out in search for new Niagara-on-the-Lake CAO
- Algoma posts Q3 financial results, CEO calls stability “encouraging”
- Thorold McDonald’s to open this month
- Welland city employees vote to decertify union
- Bank of Canada neutral rate could be 2.75%, survey finds
- Focus on Climate
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Image credit: Niagara Community Foundation
Niagara Community Foundation named one of Canada’s Top 50 Equitable Funders
Announced on October 31, 2024, the Niagara Community Foundation is honoured to be named in the inaugural list of Canada’s Top 50 Equitable Funders. The annual ranking assessed the country’s 500 largest grantmakers based on seven categories, including foundations’ demonstrated action on diversity, equity, and inclusion (DEI), transparency and funding practices.
Image credit: City of Niagara Falls
Developer proposes two apartment towers at the edge of Tourist District in Niagara Falls
A developer is proposing to build two large apartment towers on a parcel of property at the edge of the Tourist District in Niagara Falls that is presently used for outdoor storage and parking.
The 1.28-hectare site, north of Marineland Parkway and on the southwest side of Portage Road, is a short distance from Marineland to the south and close to transit and natural amenities.
Photo credit: Takawira / Adobe Stock
Need to ‘catch up’ on capital investment drives Port Colborne tax hike
The tax bill on the average home in Port Colborne is set to go up nearly $300 in 2025, as the city continues to play catch up on capital investment.
Following a more than five-hour budget meeting last month, councillors approved the 2025 capital and operating budgets, which will see the combined municipal, regional and education tax bill go up 6.45 per cent. The amount is based on the city portion of the bill going up six per cent, and the regional portion — which still needs be to approved — going up 8.27 per cent.
Photo credit: Town of Lincoln
Grand re-opening of Jordan Village marks major community transformation
The Town of Lincoln proudly marked a new chapter for Jordan Village with the grand re-opening celebration of its recently completed Jordan Village Improvement Project on Saturday, November 2, 2024. This transformative initiative revitalizes the historic and cultural heart of Jordan Village, enhancing its appeal as a vibrant destination for residents, businesses, and visitors alike.
Photo credit: Town of Niagara-on-the-Lake
Identified top candidate doesn’t pan out in search for new Niagara-on-the-Lake CAO
Efforts to find a new chief administrator for the town of Niagara-on-the-Lake have hit a snag, leaving the possibility of being unable to fill the role permanently by the end of the year.
Photo credit: Algoma Central Corporation
Algoma posts Q3 financial results, CEO calls stability “encouraging”
Algoma Central Corporation today reported its results for the three and nine months ended September 30, 2024. Algoma reported third quarter revenues of $204,644, compared to revenues of $205,888 in 2023.
“Following a challenging second quarter, it’s encouraging to see stability in demand this quarter, along with promising signs of continued improvement as we approach year-end,” said Gregg Ruhl, President and CEO of Algoma Central Corporation.
Photo credit: Refrina / Adobe Stock
Thorold McDonald’s to open this month
The new McDonald’s restaurant on the corner of Sullivan Avenue and Pine Street is gearing up for its official opening this month.
The news that McDonald’s was coming to town was first announced back in February 2023, when city council approved the necessary zoning changes for the development.
Photo credit: bizoo_n / Adobe Stock
Welland city employees vote to decertify union
Following a vote conducted through the Ministry of Labour, the Ontario Labour Relations Board has confirmed that a majority of the employees within the Infrastructure Services and Community Services groups have voted to terminate the representation rights of UNIFOR.
As a result, the affected employees will no longer be represented by UNIFOR, and the collective agreement that had been in place will cease to apply. Those staff members remain key contributors to the City’s workforce, ensuring the continued delivery of services without disruption, the City said in a statement.
Image credit: AddMeshCube / Adobe Stock
Bank of Canada neutral rate could be 2.75%, survey finds
The financial market believes the Bank of Canada will cut its policy rate to 2.75 per cent by June 2025, before holding it there for the remainder of 2025 and into 2026, according to a survey released by the central bank on Monday.
The quarterly survey was conducted Sept. 18-27 and is based on responses from 30 financial market participants. Since then, the central bank has made a 50-basis point cut to its overnight rate, bringing it down to 3.75 per cent.
Did you know?
Focus on Climate
Oil, gas companies told to cut emissions by one-third under planned cap
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.
