In this edition:
- Asahi Kasei breaks ground on electric vehicle battery separator plant in Port Colborne
- OPG names Nicolle Butcher as new President and CEO
- Nearly one-third of Niagara residents considering leaving over cost-of-living, poll shows
- Welland taxes poised to climb 3.54 per cent
- Niagara Falls pushes for more tools to break up encampments
- FAO blames slumping household spending and residential investment for slow growth
- Ontario partners with Starlink to offer broadband for underserved homes and businesses
- Focus on Finance & Economy
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Photo credit: Mishka Balsom / Greater Niagara Chamber of Commerce
Asahi Kasei breaks ground on electric vehicle battery separator plant in Port Colborne
Construction has officially begun on Asahi Kasei’s $1.7 billion manufacturing facility in Port Colborne to produce lithium-ion battery separators, a key component of electric vehicle (EV) batteries.
The new plant, the first of its kind in Canada, is a significant part of Ontario’s growing end-to-end EV and battery supply chain, accelerating the production of Ontario-made EVs and creating better jobs with bigger paycheques in the Niagara Region.
Incoming OPG CEO Nicolle Butcher. | Photo credit: Ontario Power Generation
OPG names Nicolle Butcher as new President and CEO
Ontario Power Generation (OPG) announced today President and Chief Executive Officer, Ken Hartwick’s decision to retire at the end of 2024 after nearly nine years with the company. In line with OPG’s leadership succession plan, the Board of Directors has appointed Nicolle Butcher as President and CEO effective Jan. 1, 2025.
Photo credit: Andrii Yalanskyi / Adobe Stock
Nearly one-third of Niagara residents considering leaving over cost-of-living, poll shows
The Niagara Association of REALTORS® (NAR) today released findings from a recent Nanos Research poll highlighting the growing concerns among Niagara Region residents over cost of living and housing affordability.
The findings underscore a significant sentiment: Niagara is becoming increasingly unaffordable for residents, with nearly one third (33%) of residents agreeing that they are considering leaving Niagara Region for somewhere more affordable.
Photo credit: City of Welland
Welland taxes poised to climb 3.54 per cent
Welland residents could be hit with a 3.54 per cent city tax increase next year.
For a house assessed at $230,000, that’s $65.33 more on the annual tax bill if Mayor Frank Campion’s preliminary operating budget for 2025 is approved as it was presented during a special council meeting on Monday.
Photo credit: Jameel A/Wirestock / Adobe Stock
Niagara Falls pushes for more tools to break up encampments; force drug, mental health treatment
Niagara Falls Mayor Jim Diodati has won the support of his city council in calling on the provincial government for more tools to deal with homeless encampments.
Council on Tuesday approved a motion put forth by Diodati that asks Premier Doug Ford to use the Constitution’s notwithstanding clause to give authorities and police more power to break up encampments.
Photo credit: Kittiphat / Adobe Stock
FAO blames slumping household spending and residential investment for slow provincial economic growth
In the second quarter of 2024, Ontario’s real Gross Domestic Product (GDP) increased by a slow 0.3%, the Financial Accountability Office of Ontario (FAO) reported today, with gains in business investment and government expenditures partially offset by declines in household spending, residential investment and exports.
The latest economic indicators suggest mixed results for Ontario’s economy in the third quarter of 2024, with gains in employment and retail and wholesale trade, but weakness in housing starts, manufacturing sales and exports.
Photo credit: nana / Adobe Stock
Ontario partners with Starlink to offer broadband for underserved homes and businesses
The Ontario government is partnering with Starlink to launch the new Ontario Satellite Internet (ONSAT) program, which will offer high-speed satellite internet access to 15,000 eligible unserved and underserved homes and businesses, including in rural, remote and northern communities, beginning in June 2025.
This is the largest single investment in high-speed internet, in any province, by any government in Canadian history, the Government of Ontario stated in a press release.
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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.
