In this edition:
Government of Canada invests over $8.2 million in community infrastructure and tourism projects in Niagara
Today, the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced over $8.2 million in support for 34 tourism and community infrastructure projects in the Niagara region. She was joined by Chris Bittle, Member of Parliament for St. Catharines, and Vance Badawey, Member of Parliament for Niagara Centre.
These investments, through the Canada Community Revitalization Fund (CCRF) and the Tourism Relief Fund (TRF), will create and revitalize community spaces and enhance tourism attractions to welcome more visitors and build stronger, more vibrant communities.
Click here for a list of specific projects funded by this investment.
Intellectual Property Ontario names first CEO, launches services
The Ontario government has announced the launch of services at Intellectual Property Ontario (IPON). The new agency, announced in March 2022, will help researchers, entrepreneurs and businesses maximize the value of their IP and strengthen their capacity to grow and compete in the global economy.
IPON is now open for business and will offer services to an initial cohort of clients in the medical technologies, artificial intelligence, and automotive technologies sectors this fall, broadening its services to additional clients in the coming months.
IPON is also excited to announce the appointment of Peter Cowan as its new CEO. Recently, Peter held senior level positions at the Innovation Asset Collective, assisting Canadian small- and medium-sized enterprises in the clean technology sector to better leverage their IP.
Canada Post moves toward postal banking services in new loan program with TD Bank
Canada Post now offers loans alongside stamps, packaging and its existing financial services as it officially launches a partnership with TD Bank Group.
The Crown corporation said Wednesday that the loan program, which could be expanded to other services, will provide more financial options for Canadians across the country including in rural, remote, and Indigenous communities.
“We believe that this is the best way of providing Canadians with better access to financial services, especially underserved Canadians,” said Michael Yee, vice-president of financial services at Canada Post, in an interview ahead of the launch.
Niagara Falls MP Tony Baldinelli named Shadow Minister for Tourism
Tony Baldinelli, the Member of Parliament for Niagara Falls Riding, which includes the City of Niagara Falls, the Town of Niagara-on-the-Lake, and the Town of Fort Erie, was appointed by newly elected Conservative Leader Pierre Poilievre to serve as Shadow Minister for Tourism.
“It is an honour for me to be appointed Shadow Minister for Tourism by our Leader Pierre Poilievre,” said Baldinelli in a statement. “This is a role I am very familiar with, having served earlier as Special Advisor on Tourism Recovery, and after having worked 18 years in Niagara’s tourism industry, with The Niagara Parks Commission.”
Click here to download MP Tony Baldinelli’s statement (PDF link).
Niagara Economic Summit
Craig Ruttan to outline Toronto Board of Trade’s ambitious housing plan – and what it could mean in Niagara
Under Craig Ruttan’s leadership as Policy Director for Energy, Environment and Land Use, the Toronto Region Board of Trade (TRBOT) is advancing an ambitious policy plan that would overhaul Toronto’s housing market and make sweeping changes in the relationship between municipal and provincial governments that would clear the way for development like never before. At the Niagara Economic Summit, Craig will join the GNCC’s Housing the Future panel and outline his efforts to build the missing middle, combat NIMBYism, and take the brakes off housing development – and how his plan could apply to Niagara.
Click here for tickets to this year’s Niagara Economic Summit.
Focus on Climate
Federal disaster adaptation fund meant to last over a decade is more than half spent
A federal program meant to provide provinces and municipalities with funding for disaster-resilient infrastructure projects is oversubscribed and running out of money years before it’s set to expire.
The government launched the Disaster Mitigation and Adaptation Fund (DMAF) in 2018 with an initial budget of $2 billion over 10 years. It was later topped up in 2021 with an additional $1.3 billion to be spread out over 12 years.
The goal of the program is to make infrastructure more resilient to catastrophic weather events such as post-tropical storm Fiona — events that have been getting more frequent due to climate change.
China needs $17 trillion to meet climate goals: World Bank
China needs up to $17 trillion in additional investments for green infrastructure and technology in the power and transport sectors to meet its goal of net-zero emissions by 2060, a World Bank report has found.
The world’s second-largest economy would need private investment to cover the immense price tag and unleash needed innovations, according to the report, which was released on Wednesday.
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.
