The Greater Niagara Chamber of Commerce welcomed business and community leaders this morning for a timely discussion on the economic outlook facing Ontario and Canada, featuring remarks from BDC Chief Economist Pierre Cléroux and the Honourable Nina Tangri, Ontario’s Associate Minister of Small Business, with greetings from the Honourable Sam Oosterhoff, Ontario’s Associate Minister of Energy-Intensive Industries. The event was held in partnership with the Niagara Association of REALTORS®, whose support helped bring together local stakeholders for a substantive conversation on growth, investment, and competitiveness.
Through plenary remarks and a joint panel discussion, speakers emphasized that while economic uncertainty remains a defining feature of the current environment, the Canadian economy has proven notably resilient. Cléroux offered a cautiously optimistic outlook, forecasting modest growth and underscoring that resilience remains a key strength of the Canadian economy. He pointed to artificial intelligence and broader technological adoption as important drivers of future growth, while noting that rising oil prices may also represent a net positive for Canada as a net oil producer and exporter.
Minister Tangri highlighted the Province’s recent efforts to support small businesses, including tax relief measures and policies intended to stimulate investment, particularly in the tourism economy. Both speakers also pointed to defence procurement and domestic supply chain development as an emerging area of opportunity, as both federal and provincial governments place greater emphasis on building Canadian industrial capacity. Ontario’s recent procurement changes, including requirements favouring made-in-Ontario goods for provincial government and broader public sector purchasing, were cited as part of a wider strategy to strengthen local production and economic self-reliance.
A consistent theme throughout the discussion was the importance of technology adoption and capital investment in addressing Canada’s longstanding productivity gap. Speakers stressed that improving productivity will be essential to sustaining long-term growth, and that businesses that invest in innovation, digital tools, and process modernization will be best positioned to compete in a more demanding economic landscape.
“The conversation this morning reinforced a message Niagara’s business community understands well: growth will depend not only on resilience, but on our willingness to invest, adapt, and compete,” said GNCC CEO Mishka Balsom. “From small business tax relief to procurement reform and the opportunities emerging in technology and advanced supply chains, the policy environment is shifting in important ways. Niagara businesses must be positioned to seize those opportunities.”
The Greater Niagara Chamber of Commerce thanks Pierre Cléroux, Minister Nina Tangri, and the Niagara Association of REALTORS® for contributing to an important conversation on the economic and policy conditions shaping the region’s future.
