In this edition:
- Jungbunzlauer expands Port Colborne facility with $200M investment
- South Niagara Hospital on-track to be first WELL Certified hospital in Canada
- Asahi Kasei holding open house on new $1.56B Port Colborne battery plant
- Downtown Niagara Falls advisory committee seeks volunteers
- OEA honours Alectra with dual awards for leadership and customer service excellence
- Government announces guidance for lenders and insurers on mortgage reforms
- Governments invest in initiative to help minorities start and grow agri-food businesses
- Bank of Canada says it’s reasonable to expect more rate cuts
- Focus on Small Business
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Photo credit: Michael Zweip
Jungbunzlauer expands Port Colborne facility with $200M investment
The Ontario government is welcoming a $200 million investment by Jungbunzlauer to expand its existing facility in Port Colborne, which will create 50 new jobs and strengthen regional supply chains.
It’s expected that the project will increase the demand for Ontario-grown corn, creating valuable spin-off effects across the supply chain. In support of this investment, Ontario is providing $4.8 million in funding through the Invest Ontario Fund.
Photo credit: Niagara Health
South Niagara Hospital on-track to be first WELL Certified hospital in Canada
The new South Niagara Hospital project has reached an important milestone on the path to becoming Canada’s first WELL certified hospital. Niagara Health, Infrastructure Ontario, and EllisDon Infrastructure Healthcare are excited to announce the hospital project has achieved WELL Precertification through the International WELL Building Institute™ (IWBI)’s WELL v2 pilot.
Photo credit: xiaoliangge / Adobe Stock
Asahi Kasei holding open house on new $1.56B Port Colborne battery plant
Artistic renderings of Asahi Kasei’s $1.56-billion, 185,800-square-metre lithium-ion separator battery plant and surrounding area will be on display for residents Wednesday during an open house in Port Colborne.
Company representatives will be on hand to provide details about the products to be made at the new facility between the Welland Canal and Highway 140 near the Welland border.
Project director Prasad Puttagunta will also deliver a keynote address at the GNCC’s Niagara Economic Summit.
Photo credit: Niagara Falls Tourism
Downtown commercial property and business owners have until Oct. 11 to apply for a new advisory committee of Niagara Falls city council.
“We’ve done the stakeholder engagement over the last year and a half and that has been a very open conversation on things that people didn’t like about the past, or things people liked about the past,” said city economic development officer Dean Spironello.
Photo credit: Alectra Utilities / supplied
OEA honours Alectra with dual awards for leadership and customer service excellence
Photo credit: ArLawKa / Adobe Stock
Government announces technical guidance for lenders and insurers on mortgage reforms
Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced technical guidance for lenders and insurers to ensure Canadians can benefit from its new mortgage reforms by December 15, 2024.
The government acknowledged that its efforts to build four million new homes would strain infrastructure, and to address this, it had invested $6B through the Canada Housing Infrastructure Fund. Applications for the $1 billion municipal stream will open next month.
Photo credit: romaset / Adobe Stock
Governments of Canada and Ontario invest in new initiative to help minorities start and grow agri-food businesses
Photo credit: Bank of Canada / CC BY 2.0
Bank of Canada says it’s reasonable to expect more rate cuts
Given the continued progress the Bank of Canada has made in bringing inflation back down to the 2% target, it is reasonable to expect more rate cuts, Governor Tiff Macklem said on Tuesday.
Macklem was making his first remarks since data showed the consumer price index in August fell to 2%, the lowest rate since February 2021. The bank aims to keep inflation around the mid-point of a 1%-3% target range.
Did you know?
Focus on Small Business
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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.
