Daily Update: January 16

January 16, 2024 | Daily Update

In this edition:

  • Rate of inflation accelerated to 3.4% in December
  • SucroCan Sourcing and HOPA Ports announce plan for Canada’s largest sugar refinery
  • University of Niagara Falls Canada partners with ILAC for new pathway
  • Why are Highway 407 ETR charges going up?
  • Focus on Sustainability

Rate of inflation accelerated to 3.4% in December

The Consumer Price Index (CPI) rose 3.4% on a year-over-year basis in December, following a 3.1% increase in November, Statistics Canada reported today.

While gasoline prices fell on a monthly basis for the fourth month in a row, the headline acceleration was largely the result of higher year-over-year prices for gasoline in December (+1.4%) compared with November (-7.7%). This was the result of a base-year effect where gasoline prices fell more on a monthly basis in December 2022 than they did in December 2023. Excluding gasoline, the headline CPI slowed year over year, from 3.6% in November to 3.5% in December.

The Consumer Price Index (CPI) rose 3.9% on an annual average basis in 2023, following a 40-year high increase of 6.8% in 2022 and a 3.4% increase in 2021.

Click here to read more.

SucroCan Sourcing and HOPA Ports announce plan to build Canada’s largest sugar refinery

SucroCan Sourcing LLC, a growing integrated sugar refiner, has announced its plans to build Canada’s largest sugar refinery at the Port of Hamilton, Ontario, on lands owned by HOPA Ports (Hamilton-Oshawa Port Authority).

The new refinery will be the largest in Canada, with an expected future annual refining capacity of 1 million metric tonnes, representing an estimated investment of $135 million CAD.

Click here to read more.

University of Niagara Falls Canada partners with ILAC for new pathway

University of Niagara Falls Canada (UNF) and ILAC and have signed a pathway agreement making it easier for students to take the next step in their educational journeys. Students enrolled in ILAC’s pathway programs now have the opportunity to fulfill their English proficiency requirements for both graduate and undergraduate programs at UNF by transferring directly from the qualifying university pathway programs provided by ILAC in Toronto or Vancouver.

Click here to read more.

Drivers will have to pay more for using Hwy. 407 after new toll rates kick in next month.

Set to take effect Feb. 1, the change will mean an increase of one to 11 cents per kilometre, depending on the time of day and stretch travelled.

“The majority of 407 ETR’s personal customers can expect a monthly bill increase of less than $5,” 407 ETR, the company responsible for tolls on the privately-owned 108-kilometre stretch of roadway between Pickering and Burlington, said in a news release.

Click here to read more.

Did you know?

It would take 181 million years to download all the data from the internet. 

Focus on Retail

What is happening to self-checkout?

The promise of self-checkout was alluring: Customers could avoid long lines by scanning and bagging their own items, workers could be freed of doing those monotonous tasks themselves and retailers could save on labour costs.

All that has happened since the rollout of self-checkout but so has this: Customers griping about clunky technology that spits out mysterious error codes, workers having to stand around and monitor both humans and machines, and retailers contending with theft.

Click here to read more.

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.

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Daily Update: January 12

January 12, 2024 | Daily Update

In this edition:

  • Government was warned two years ago high immigration could affect housing costs
  • Canada is warming faster than anywhere else on earth
  • Canada tax changes to be aware of in 2024
  • Why you should start thinking about the heat now
  • Canada joins international deal to make document certification faster, cheaper
  • Owners of former St. Catharines hospital site in receivership
  • Focus on Equity, Diversity & Inclusion

Government was warned two years ago high immigration could affect housing costs

Federal public servants warned the government two years ago that large increases to immigration could affect housing affordability and services, internal documents show.

Documents obtained by The Canadian Press through an access-to-information request show Immigration, Refugees and Citizenship Canada (IRCC) analyzed the potential effects immigration would have on the economy, housing and services, as it prepared its immigration targets for 2023 to 2025.

Click here to read more.

2023 was the hottest year in history — and Canada is warming faster than anywhere else on earth

On Jan. 9, 2024, the European Union’s Copernicus Climate Change Service (CCCS) announced that their analysis confirmed that 2023 was the hottest year on record since 1850, when humans began burning fossil fuels at a major scale. The global average temperature was 1.48 C warmer than pre-industrial levels and much warmer (0.17 C) than 2016, the previous warmest year.

The map of surface air temperature anomalies around the globe, compared to the 1991–2020 average, shows large geographical variations and that some of the warmest areas are in Canada.

Click here to read more.

Canada tax changes to be aware of in 2024

There are a number of new tax measures and reporting requirements Canadians should keep in mind when filing their 2023 returns this spring.

Here is a list of important tax changes and dates, with insights from a tax professional.

Click here to read more.

As winter settles in and temperatures drop, it might seem counterintuitive to talk about heat-related safety concerns. However, forward-thinking health and safety professionals are already turning their attention to this critical issue, because 2024 is forecasted to be even hotter than 2023.

“I think one is the practical implication that if it’s going to be hotter, then there’s the potential to have more workers impacted by heat stress or illness,” says Clare Epstein, general manager of commercial at Vector Solutions, an e-learning training provider specializing in workplace safety.

Click here to read more.

Canada joins international deal to make document certification faster, cheaper

Canadians who need to certify documents for use abroad should find the process faster — and cheaper — starting today, now that Canada has joined the largest international convention for verifying documents.

The 1961 Apostille Convention streamlines the process for certifying documents for use in the other 125 countries that have signed the convention. Canada agreed to join the convention in May 2023 and the changes come into effect today across the country.

Click here to read more.

Owners of former St. Catharines hospital site in receivership

Plans for a 1,131-unit housing development on the former St. Catharines General Hospital site on Queenston Street are up in the air after the property was placed in receivership.

Court documents claim property owner 2807823 Ontario Inc. owes just over $10 million to its money lender and missed its deadline to pay up.

The development of the 12-acre property at 142 Queenston St. has been highly anticipated by residents and the city since the hospital vacated the site in March 2013.

Click here to read more.

Did you know?

Kerosene was the dominant petroleum product prior to 1905, while gasoline was a small byproduct that was often poured off into rivers.

Focus on Equity, Diversity & Inclusion

Why ineffective diversity training won’t go away

Most people who start a new company job know the drill. In addition to meetings and an office tour, orientation day typically includes sitting through a session or clicking through a set of virtual slides – with a quiz to follow – on diversity and sensitivity training.

Ubiquitous in large workplaces across the globe, these company-wide sessions are staples at Fortune 500 companies and smaller organisations alike. “They’re everywhere,” says Pamela Newkirk, the New York-based author of the book Diversity, Inc: The Failed Promise of a Billion-Dollar Business. “Every major company… every major institution whether it’s academia or fashion – that seems to be the go-to strategy for dealing with the lack of diversity.”

This training is so widespread that it’s developed into a lucrative industry. Yet research indicates that diversity, equity and inclusion (DEI) training does very little to affect change within a workplace.

Click here to read more.

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.

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Daily Update: January 11

January 11, 2024 | Daily Update

In this edition:

  • Niagara-based organizations combating gender-based violence among major federal grant winners
  • Amalgamation ‘not a silver bullet’ for Niagara, provincial committee hears
  • Shelley Spence takes office as Ontario’s new Auditor General
  • Economists see ‘turning point’ in housing market this year as interest rate cuts loom
  • Focus on Climate

Niagara-based organizations combating gender-based violence among major federal grant winners

Today, Lisa Hepfner, Parliamentary Secretary to the Minister for Women and Gender Equality and Youth, alongside Viviane Lapointe, Member of Parliament for Sudbury, announced up to $19 million for 34 organizations to prevent and address gender-based violence in Ontario and across the country.

Among the organizations were St. Catharines-based non-profit Future Black Female, which was awarded $500,000 for their Black Youth United Against GBV IPV project, and Welland non-profit TOES Niagara, which was granted $585,650 in support of its “CODE- A” promising practice tool for human trafficking prevention.

Click here to read more.

Amalgamation ‘not a silver bullet’ for Niagara, provincial committee hears

There might be room for improvement in the way Niagara is governed, but it shouldn’t require amalgamating the 12 local municipalities or dissolving regional government, say several local political leaders who addressed a provincial committee considering the future governance of the region.

GNCC CEO Mishka Balsom presented on behalf of the business community, reiterating the GNCC’s advocacy for an evidence-based and data-driven approach to reform that retains a strict focus on service delivery and tax reduction. The GNCC had also previously delegated on the subject for the Fenn-Seiling report, which the GNCC is calling to be made publicly accessible.

Niagara Regional Chair Jim Bradley and Port Colborne Mayor Bill Steele have also released the transcripts of their presentations.

Click here to read more.

Shelley Spence takes office as Ontario’s new Auditor General

On January 8, Shelley Spence took office as the 14th Auditor General of Ontario. She is appointed for a 10-year term by Order of the Legislative Assembly, after being unanimously recommended by a bi- partisan panel of MPPs announced in December 2023.

She brings to the role more than 30 years of professional experience in audit, oversight and governance as a Chartered Professional Accountant, Chartered Accountant and Licensed Public Accountant in the public sector, and as a successful entrepreneur for 20 years. Most recently, Ms. Spence was Partner with Deloitte LLP, where she helped to oversee the Government and Public Service Assurance practice.

Click here to read more.

After a year marked by caution and shifting expectations spurred by rising borrowing costs, economists believe the Canadian housing market could be in for a rebound in 2024.

That’s largely dependent on forecasts that the Bank of Canada could begin cutting its key interest rate from the current level of five per cent as early as the second quarter of this year.

“We’re obviously watching for a turning point in the market,” said TD Bank economist Rishi Sondhi.

Click here to read more.

Did you know?

Niagara Region treats more than 6 million litres of drinking water per hour.

Focus on Climate

World’s renewable energy capacity grew at record pace in 2023

Global renewable energy capacity grew by the fastest pace recorded in the last 20 years in 2023, which could put the world within reach of meeting a key climate target by the end of the decade, according to the International Energy Agency (IEA).

The world’s renewable energy grew by 50% last year to 510 gigawatts (GW) in 2023, the 22nd year in a row that renewable capacity additions set a new record, according to figures from the IEA.

Click here to read more.

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.

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Daily Update: December 14

December 14, 2023 | Daily Update

In this edition:

  • Ontario opens up alcohol sales at convenience, grocery and big box stores
  • Niagara governance changes unlikely after Peel reversal, observers say
  • Canadian home sellers joining buyers on the sidelines
  • CEBA loan repayment not “full-blown crisis:” Canadian Chamber
  • Computer and electronic manufacturing decline takes lead in manufacturing sales hit
  • Tim Kenyon appointed Interim Provost and Vice-President, Academic at Brock
  • Lincoln to ask Province to help municipalities affected financially by Bill 23
  • Focus on Equity, Diversity & Inclusion

Ontario opens up alcohol sales at convenience, grocery and big box stores

Today, the Ontario government announced that beginning no later than January 1, 2026, consumers will be able to buy beer, wine, cider, coolers, seltzers, and other low-alcohol ready-to-drink beverages at all participating convenience, grocery and big box stores across the province. This new, more open marketplace will introduce up to 8,500 new stores where these products can be purchased.

“Today’s announcement by the Ontario government recognizes what we have long said: wine regions are catalysts for economic growth,” said Richard Linley, President of Ontario Craft Wineries.

“The decision to extend the VQA support program for five years is a game-changer,” commented Debbie Zimmerman, CEO of the Grape Growers of Ontario. “The elimination of the 6.1% Winery Retail Tax will invigorate Ontario wineries.”

Click here to read more.

Niagara governance changes unlikely after Peel reversal, observers say, as mayors of region’s largest cities press on for reform

Retired Brock University political science professor David Siegel says the provincial government is not likely to make any governance changes in Niagara, after announcing Wednesday it is abandoning plans to dissolve Peel Region.

Meanwhile, the mayor’s of Niagara’s two largest cities say reform must take place here.

Despite a hearing with the province’s Standing Committee on Heritage, Infrastructure and Cultural Policy scheduled for Jan. 10 in St. Catharines,  Siegel said he doubts the effort will lead to anything substantial.

Click here to read more.

Canadian home sellers joining buyers on the sidelines

Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed on a month-over-month basis in November 2023, edging down by 0.9% from October to November 2023. It was the smallest decline since July.

“I wouldn’t expect anything too headline-grabbing from the resale housing market for the next few months,” said Larry Cerqua, Chair of CREA. “That’s a good thing, because a market that looks to be stabilizing in balanced territory increasingly suggests the soft-landing scenario.”
Click here to read more.

CEBA loan repayment may not be the full-blown crisis it’s been presented as: Canadian Chamber

As part of the Canadian Chamber of Commerce’s Business Data Lab (BDL) Q4 2023 Canadian Survey on Business Conditions (CSBC), an in-depth analysis of input from close to 16,000 business respondents, data has been revealed that tells a different story than the one many have been hearing — CEBA loan repayment may not be the full-blown crisis it’s been presented by many to be.

Roughly half of the business surveyed in the CSBC received a CEBA loan, with construction, accommodation and food services, and mining, oil, and gas showing the highest percentage of active borrowers. Of those, nearly a third have already paid in full, and two thirds of the remainder plan to do so within the terms of the most recent extension. This means that altogether, approximately 76% of CEBA loans are likely to be repaid, with variation across sectors.

“When 76% of all borrowers have met or plan to meet the repayment terms, it’s hard to say this program hasn’t served its intended purpose,” said Matthew Holmes, Senior Vice President of Policy and Government Relations at the Canadian Chamber of Commerce.

Click here to read more.

Computer and electronic manufacturing decline takes lead in manufacturing sales hit

Canadian manufacturing sales declined 2.8% to $71.0 billion in October, Statistics Canada has revealed today, on lower sales in 12 of 21 subsectors, led by the petroleum and coal product (-10.3%), machinery (-6.6%) and computer and electronic product (-15.0%) subsectors. Partially offsetting the declines were higher production of aerospace products and parts (+6.9%). Year over year, total sales decreased 1.5% in October.

In Ontario, sales declined for the third consecutive month, down 4.1% to $31.5 billion in October, primarily driven by lower sales of machinery (-12.5%), motor vehicles (-3.6%) and motor vehicle parts (-6.1%).

Click here to read more.

Tim Kenyon appointed Interim Provost and Vice-President, Academic at Brock

Brock University has announced that Dr. Tim Kenyon has been appointed to the role of Interim Provost and Vice-President, Academic, starting Jan. 1. He will serve in the role until July 31, while the University undertakes a search for a permanent appointment.

Kenyon has held the role of Vice-President, Research since January 2018 and was recently re-appointed to a new five-year term.

Click here to read more.

Lincoln to ask Province to help municipalities affected financially by Bill 23

The town of Lincoln is hoping the province will look at how Bill 23 has affected municipalities’ ability to build housing.

At the council meeting on Dec. 13, Coun. Greg Reimer introduced a motion asking the province to support municipalities that are struggling to meet their growth targets because of the financial burden imposed by Bill 23.

His motion passed unanimously.

Click here to read more.

Did you know?

John D. Rockefeller’s father was a traveling snake-oil salesman and con artist.

Focus on Equity, Diversity & Inclusion

The 50 – 30 Challenge: Your Diversity Advantage

Canada’s greatest resource is its people. Their ideas and inspirations will guide the future success of Canadian businesses and Canada’s economy. In order to stay ahead of the curve, businesses must anticipate the needs and wants of Canada’s diverse population. Businesses have adapted by evolving their existing practices and policies, implementing new ideas, taking risks and embracing innovation. Canadian businesses must have the diverse people and voices at the table that embody and represent the Canadian people.

Ongoing research and data shows us just how much this is true. Studies have demonstrated that companies with more diverse leadership teams are more likely to outperform those with less diverse teams on profitability, increased revenue and improved workplace productivity. Organizations that embrace diversity can also build greater trust and engagement with their employees, which can in turn lead to increased success. A diverse and inclusive workforce is not only fair and just but it is also makes for good economics.

Click here to read more.

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.

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Daily Update: November 28

November 28, 2023 | Daily Update

In this edition:

  • Ontario to modernize the province’s real estate sector
  • Food bank need rises in Niagara as wages stagnate, says new report
  • Government Spending in 2022: Decline in social protection and economic affairs; Surges across all other categories
  • Transat and Porter Airlines launch joint venture
  • Deputy Prime Minister to table big bill to implement fiscal update measures, but not AirBnB crack down
  • Scotiabank profit falls as bank sets aside almost $1.3B to cover bad loans
  • St. Catharines Council approved arts and culture funding
  • Focus on Finance and Economy

Ontario to modernize the province’s real estate sector

The Ontario government is updating the rules governing the province’s real estate brokerages, brokers, and salespersons to strengthen consumer protection, educate home buyers and sellers, and enhance professionalism.

The new rules, effective December 1, 2023, will allow a brokerage to disclose the details of competing offers if the seller directs them to do so, excluding personal or identifying information. They also include an updated Code of Ethics to strengthen professional obligations related to integrity, conflict of interest and the prevention of fraud.

Click here for more details.

Food bank need rises in Niagara as wages stagnate, says new report 

An ever-increasing wave of people are turning to food banks across the province as a result of rising rents, stagnating wages and a withering social safety net, according to a new report by Feed Ontario.

The network of 1,200 food banks on Monday released its report that looks at usage across the province and which cited the “largest single-year increase ever recorded by Ontario’s food bank network,” reflective of a 40 per cent increase of first-time visitors.

Feed Niagara, a consortium of 12 local food bank members, and part of Feed Ontario, has seen similar increases as food reserves dwindle.

Click here for more details.

Government Spending in 2022: Decline in social protection and economic affairs; Surges across all other categories

Spending by all levels of government in Canada, excluding consumption of fixed capital, totalled $962.7 billion in 2022, a decline of 0.7 per cent or $7.1 billion from 2021. This was the second consecutive year government spending decreased since reaching an all-time high of $1,049.3 billion in 2020 due to spending in response to the COVID-19 pandemic.

Social protection and economic affairs were the drivers of the spending decrease in 2022 as governments concluded the remaining pandemic response measures. While spending decreased significantly in these two categories, spending in every other category increased, most notably in general public services (+$18.5 billion or +14.2 per cent).

Click here for more details.

Transat and Porter Airlines launch joint venture

Porter Airlines and Transat A.T. Inc. are forming a joint venture aimed at boosting seat sales by using each other’s networks as feeder lines. The agreement, announced today, builds on a cross-selling arrangement the two carriers began last year as the industry struggled to emerge from the pandemic.

Top executives at the airlines said in a joint interview that the arrangement, to be phased in next year, will allow the carriers to better co-ordinate schedules, offer more competitive fares and share revenues at a time of intense competition. Jobs and fleet sizes are expected to increase as the partnership drives growth, they said. The marketing alliance does not include any change in ownership nor any investment between the partners.

Click here for more details.

Deputy Prime Minister to table big bill to implement fiscal update measures, but not AirBnB crack down 

Deputy Prime Minister and Finance Minister Chrystia Freeland will be tabling an omnibus bill to pass measures she promised in last week’s fall economic statement, framing the incoming legislation to advance “the government’s economic plan.”

Missing from the package are the government’s promised plans to crack down on short-term rentals, while Prime Minister Justin Trudeau’s promise to double the carbon tax rural rebate top-up, is included.

Click here for more details.

Scotiabank profit falls as bank sets aside almost $1.3B to cover bad loans

The Bank of Nova Scotia said its profit slumped in the fourth quarter for a variety of reasons, including doubling the amount of money the bank sets aside to potentially write off loans that are in danger of not being paid back.

The bank reported its net income was $1.39 billion for the three-month period up until the end of October. That’s down by more than a third from the $2.09 billion it earned the same time last year. Revenue came in at $8.31 billion, up from nearly $7.63 billion last year. But the bank was making less money because its costs rose by even more.

The bank’s expenses rose to $5.5 billion during the quarter, an increase of 22 per cent. The bank attributed its surging costs to “higher personnel costs, technology-related costs, performance-based compensation, business and capital taxes, share-based compensation, advertising and the unfavourable impact of foreign currency translation.”

Click here for more details.

St. Catharines Council approved arts and culture funding

At their meeting Nov. 27, City Council approved the final rounds of St. Catharines Cultural Investment Program (SCCIP) funding for this year. Successful applicants for rounds three and four of funding include:

  • Sustaining – Festival Program: Bravo Niagara! Festival of the Arts – $14,500; Cicada Music and Arts – $18,000; Norm Foster Theatre Festival – $22,000; and TD Niagara Jazz Festival – $9,500.
  • Arts Development Program: Bart Gazzola / Niagara Creatives Network – $2,000; and Matter of Black Community Services – $8,715.
  • Culture Builds Community Program: Willow Arts Community – $7,500.

Click here for more details.

Did you know?

There are 163 commercial greenhouses in Niagara.

Focus on Finance and Economy

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.

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Daily Update: November 20

November 20, 2023 | Daily Update

In this edition:

  • Strike averted at 17 No Frills stores in Ontario
  • Canada and Ontario committing up to $25 million to boost efficiency in farming and food processing
  • Canada Apprentice Loans added to My Service Canada Account, improving access and service to Canadians
  • The Future of AI Council launches as AI comes under global scrutiny
  • Investment in building construction is on the rise
  • Annual rate of rent growth in Canada was 9.9% in October
  • Children of homeowners twice as likely to own homes themselves, says StatsCan
  • Focus on Climate

Strike averted at 17 No Frills stores in Ontario

Unifor reached a tentative deal on behalf of almost 1,300 No Frills workers across Ontario over the weekend, averting a looming strike that was set to get underway today. The union had announced the strike deadline on Thursday, calling for higher wages and better working conditions for employees at 17 stores in Toronto, Whitby and elsewhere in the province. Unifor Local 414 president Gord Currie says the workers knew the public would have their back in demanding a fair share of the growing profits of the discount grocery banner’s parent company, Loblaw Cos. Ltd. The No Frills workers, most of whom are part-time, will now vote on the tentative deal from Monday to Saturday.

Click here for more details.

Canada and Ontario committing up to $25 million to boost efficiency in farming and food processing

The governments of Canada and Ontario are investing up to $25 million, through the Sustainable Canadian Agricultural Partnership (Sustainable CAP), to expand production capacity and boost energy efficiency in the agriculture and food sector.

Through the Agri-Tech Innovation Initiative, funding will be provided to eligible farm and food processing businesses to help them invest in innovative technology, equipment or processes that will expand production capacity or enhance efficiency.

This investment will support the objectives laid out in the Grow Ontario Strategy of increasing the production and consumption of food grown and prepared in the province by 30% by 2032 and boosting the economic impact of Ontario’s robust food and beverage manufacturing by 10%.

Click here for more details.

Canada Apprentice Loans added to My Service Canada Account, improving access and service to Canadians 

Today, Minister of Citizens’ Services, Terry Beech, announced that My Service Canada Account (MSCA) will become the single point of entry to access the Canada Apprentice Loans. Current and new Canada Apprentice Loan clients will need to register or sign-in to MSCA to apply, manage or monitor their Canada Apprentice Loan.

When Canada Apprentice Loan clients access the Canada Apprentice Loans Service Centre website, they will be redirected to MSCA to log into their account. Clients who do not have an MSCA will need to create one. After logging in to their MSCA account, clients can access the Canada Apprentice Loan Service Centre (CALSC) website, where they can view the balance and status of their loans.

With MSCA, this new process will provide apprentices with real-time identity verification and enhanced security measures to help protect their personal information. Once registered or signed in to MSCA, clients can view their Social Insurance Number and access services and benefits related to Employment Insurance, the Canada Pension Plan, and Old Age Security.

Click here for more details.

The Future of AI Council launches as AI comes under global scrutiny

The Canadian Chamber of Commerce has launched its newest council, the Future of Artificial Intelligence (AI) – a 30-member forum representing a diverse cross-section of organizations from across the country, including Council Co-Chairs Amazon and SAP Canada. The Council will play a leading role in advocating for government policies that establish AI as a positive economic force through the responsible development, deployment and ethical use of AI in business.

The Future of AI Council supports government policies that establish AI as a positive economic driver, while also acknowledging the need for policies that consider the potential of risk. At the top of the agenda for the Future of AI Council is Bill C-27’s Artificial Intelligence and Data Act (AIDA), which the House of Commons is currently studying. During its inaugural meeting on November 6, the Council determined that AIDA would be a core focus of its advocacy until the Act receives royal assent.

Click here for more details.

Investment in building construction is on the rise

Investment in building construction increased 5.3 percent to $18.9 billion in September. Single family home investment increased 6.4 per cent to $6.3 billion in September. Multi-unit construction rose 8.2 percent to $6.6 billion in September, with all provinces reporting gains.

Overall, the residential sector rose to $12.9 billion, and the non-residential sector was up 1.2 per cent.

Investment in non-residential construction was up 1.2 per cent, an increase driven mainly by Ontario, which accounted for 72.8% of the sector gains.

Industrial construction investment increased 1.2% per cent. Despite stabilizing in recent months, industrial investment was still up 16.2% from September 2022.

Institutional construction investment rose 4.3 per cent to $1.5 billion in September 2023. Ontario led the way, with a large hospital renovation in Toronto and the construction of a correctional facility in Thunder Bay contributing to growth in the province.

Click here for more details.

Annual rate of rent growth in Canada was 9.9% in October

For the sixth month in a row, asking rents in Canada hit a new high, averaging $2,178 in October. In the last six months, average asking rents increased by 8.8%, or by $175 per month.

Ontario was the province with the slowest annual growth in apartment rents during October, posting a 4.6 per cent increase (compared to a 6.6 per cent increase reported for September). The average asking rents in Ontario edged up in October to reach $2,492. Average rent for one-bedroom in St. Catharines was $1,685.

Click here for more details.

Children of homeowners twice as likely to own homes themselves, says StatsCan

A Statistics Canada report published today, crunched the numbers on home ownership rates across income levels, provinces and age brackets and found that one of the best determinants of whether or not a young adult owned a home in 2021 was whether or not their parents did.

Almost one out of every six Canadians born in the 1990s owned a home in 2021, but among those whose parents didn’t own a home, the ownership percentage was 8.1 per cent — about one out of every 11.

If the young adult’s parents own a home, however, the ownership ratio jumps to 17.4 per cent. That makes them more than twice as likely.

Click here for more details.

Did you know?

The most innovative country in 2023 was Switzerland. Canada is positioned in 15th place.

Focus on Climate

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.

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Daily Update: November 9, 2023

November 9, 2023 | Daily Update

In this edition:

  • Ontario to ban requirements for Canadian work experience in job postings
  • O’Regan introduces legislation to ban use of replacement workers
  • Government of Canada to release Fall Economic Statement on November 21
  • Ontario commits $200m to water infrastructure
  • Dozens of Brock researchers included on global list of top scientists
  • Loblaw claims Canada’s ‘code of conduct’ will cost consumers $1bn
  • Council for Aboriginal Business signs $3.4m agreement for Indigenous procurement
  • Welland mayor introduces budget with 2.68 per cent hike; won’t use veto powers
  • Focus on Equity, Diversity & Inclusion

Ontario to ban requirements for Canadian work experience in job postings

The Ontario government will soon introduce legislation that, if passed, would make it the first province in Canada to help even more internationally-trained immigrants work in the fields they’ve studied in by banning the use of Canadian work experience as a requirement in job postings or application forms. This change would help more qualified candidates progress in the interview process and follows historic legislation to prohibit regulated professions from requiring discriminatory Canadian work experience requirements in licensing for more than 30 occupations, which comes into effect December 2023.

Click here to read more.

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O’Regan introduces legislation to ban use of replacement workers

Today, Minister of Labour Seamus O’Regan Jr. introduced legislation which proposes to ban the use of replacement workers in federally regulated workplaces during a strike or lockout. The legislation would also make important changes to improve the maintenance of activities process.

Bill C-58 would ban employers from using replacement workers to do the work of unionized employees who are on strike or locked out. An exception would apply in situations where there are threats to health and safety, or threats of serious property and environmental damage that could not be managed by the employer’s existing workforce.

The Canadian Chamber of Commerce expressed its opposition to the move in a statement. CEO Perrin Beatty said that “by eliminating the ability of federally regulated employers to use replacement workers to continue their operations in the case of a work stoppage, the government will put its thumb firmly on the scales in favour of one of the parties, removing an incentive to negotiate and encouraging more labour disruptions.”

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Government of Canada to release Fall Economic Statement on November 21

The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, will present the 2023 Fall Economic Statement in the House of Commons on November 21, 2023, at approximately 4:00 p.m. ET.

The Fall Economic Statement will provide information on the state of the Canadian economy and update on the government’s stated economic plan to help create good jobs, to build more homes, and to make life more affordable.

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Ontario commits $200m to water infrastructure

The Ontario government is investing $200 million over three years to help municipalities repair, rehabilitate and expand critical drinking water, wastewater and stormwater infrastructure. The new funding will support the province’s rapidly growing population, unlock more housing opportunities and spur economic growth.

As announced in Ontario’s 2023 Fall Economic Statement, the government is also introducing additional measures aimed at helping to build critical infrastructure faster and smarter. This includes launching the new Ontario Infrastructure Bank and the building of more rental homes by taking steps to remove the full eight per cent provincial portion of the Harmonized Sales Tax (HST).

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Dozens of Brock researchers included on global list of top scientists

Stanford University’s list of the world’s top two per cent of scientists with the most citations has been updated to reflect the situation in 2023 – and Brock University is holding steady.

The update contains two tables: one listing a database of citations over the course of a career for 204,643 researchers worldwide; and another one listing 210,198 researchers for the most citations in 2022. Citations, which appear in academic papers, are references made to earlier research. The number of times a researcher’s work is referenced in other peer-reviewed work is one important indicator of their research impact and reputation.

There are 38 Brock University researchers listed in the first table and 27 in the second, single-year table.

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Loblaw claims Canada’s ‘code of conduct’ will cost consumers $1bn

After a select group of Canadian grocers raised rates to suppliers in 2020, the government decided a “code of conduct” was going to be created to prevent such actions in the future. However, Canadian grocer Loblaw said it believes the guidance will only force the cost to implement to be passed on to consumers, reports BNN Bloomberg.

So how much are we talking about? Loblaw says it believes that cost could be upwards of $1 billion (CAD), or $720 million in U.S. dollars.

Loblaw wrote a letter to both members of the code of conduct steering committee, as well as the industry subcommittee, with the retailer saying it cannot approve the code.

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Council for Aboriginal Business announces $3.4m funding agreement for Indigenous procurement

The Canadian Council for Aboriginal Business (CCAB) today announced that they had entered into a multi-year agreement with Indigenous Services Canada (ISC) to invest more than $3.4 million into CCAB’s continued and longstanding work to support Indigenous procurement.

In 2018, CCAB launched Supply Change™, a comprehensive suite of programs and tools aimed to increase procurement from Indigenous business in the supply chains of Corporate Canada and all levels of government.

Supply Change™ functions through a number of programs and services, including research, advocacy, education, certification and an Indigenous Procurement Marketplace. The Marketplace is a two-way Indigenous procurement platform that allows Certified Aboriginal Businesses (CABs), a designation provided through CCAB to ensure Indigenous businesses are verifiably majority owned and operated by Indigenous peoples, to connect with corporations and entities who have joined Supply Change™ with the goal of increasing Indigenous participation. Over the course of six years, Supply Change has grown to include close to 1,300 certified First Nation, Métis and Inuit businesses and more than 140 buyers.

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Welland mayor introduces budget with 2.68 per cent hike; says he won’t use veto powers in process

Strong mayor powers won’t be used to stop Welland councillors from amending the 2024 budget, said Mayor Frank Campion, who presented his budget and its proposed 2.68 per cent tax increase at a special budget review meeting Monday. In his opening remarks, Campion stressed he would not use his veto to block councillors’ amendments.

Last year, residents saw a 3.05 per cent decrease in their municipal tax bill, a result of the uploading of transit costs to Niagara Region.

With some councillors absent, quorum was lost when Ward 3 Coun. John Chiocchio and Ward 5 Coun. Graham Speck walked out.

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Did you know?

Microsoft Excel was first launched under the name “Multiplan” in 1982.

Focus on Equity, Diversity & Inclusion

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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.

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Daily Update: October 31, 2023

October 31, 2023 | Daily Update

In this edition:

  • Economy stagnant in August, likely continuing for Q3 2023
  • Niagara College now offering R&D help to small- and medium-sized businesses
  • Workplace Safety and Insurance Board (WSIB) premiums will remain steady in 2024
  • Gas and fuel tax cuts extended to end of June, 2024
  • Ontario agrees to give some teachers, education workers, retroactive salary bumps
  • Focus on Finance and Economy

Property values ​​are steadily declining. Unhappy businessman, business downturn. company stocks fall in value, economic crisis, global economy slows down, trading drops, high risk investments.

Economy stagnant in August, likely continuing for Q3 2023

Real gross domestic product (GDP) was essentially unchanged for a second consecutive month in August, Statistics Canada reported today, as factors such as higher interest rates, inflation, forest fires and drought conditions continued to weigh on the economy. Services-producing industries edged up 0.1% in the month, while goods-producing industries contracted 0.2%. Overall, 8 of 20 industrial sectors increased.

Advance estimates for September suggests that the third quarter of 2023 was essentially unchanged. The official estimate for the third quarter will be available on November 30, 2023, when the official estimate of real GDP by income and expenditure is released.

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Niagara College now offering R&D help to small- and medium-sized businesses

Niagara College’s Research & Innovation division is currently offering small- and medium-sized businesses (SMEs) a way to advance their product development, improve their performance or take an innovative leap forward, thanks to government funding from various sources, and service opportunities available with our Innovation Centres.

The College can help with innovation challenges related to technology adoption, in the sectors of:

  • advanced manufacturing
  • food and beverage
  • horticulture/greenhouse and environmental technologies
  • business & commercialization

In all cases, the intellectual property developed during the project belongs to the industry partner.

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Workplace Safety and Insurance Board (WSIB) premiums will remain steady in 2024

The Ontario government announced today that the average premium rate businesses pay to the Workplace Safety and Insurance Board (WSIB) will remain steady in 2024. At a time when businesses are combatting rising costs of inflation, the government said in a statement, the stability will keep rates at a decades-long low, helping create new jobs and allowing for bigger paycheques for workers.

n the last year, the WSIB provided a 6.5 per cent cost of living increase to people receiving income replacement benefits and is also extending incentives for smaller businesses enrolled in its Health and Safety Excellence program through to December 31, 2024. Small businesses can now benefit from double rebates for every topic completed in the program, plus an additional $1,000 towards implementing a health and safety program.

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The Ontario government today announced its intent to introduce legislation through its upcoming 2023 Fall Economic Statement that would, if passed, extend the gasoline and fuel tax rate cuts to June 30, 2024, saving households $260 on average since the tax cuts were first introduced.

 

Since July 1, 2022, Ontario has lowered the gasoline tax by 5.7 cents per litre and the fuel tax by 5.3 cents per litre. The government is proposing to extend the rate cuts so the tax rate on gasoline and fuel (diesel) would continue to remain at 9 cents per litre until June 30, 2024.

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Ontario agrees to give some teachers, education workers, retroactive salary bumps

Ontario has agreed to give public high school teachers and some elementary school education workers retroactive salary increases to compensate them for constrained wages under a law known as Bill 124. Education workers represented by the Elementary Teachers’ Federation of Ontario ratified a new contract last week and the union says today that the deal includes an agreement on a Bill 124 remedy.

That 2019 law capped salary increases for public sector workers to one per cent a year for three years. An Ontario court has ruled it unconstitutional, but the government has appealed.

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Did you know?

Canada has one of the world’s lowest rates of deforestation, losing 0.02% of its forested area annually.

Focus on Finance and Economy

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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.

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Daily Update: October 27, 2023

October 27, 2023 | Daily Update

In this edition:

  • St. Catharines seeks feedback on Strategic Plan
  • Niagara Falls now allows 3 dwelling units on a lot
  • Canada moves to reform its international student program
  • Federal Reserve’s preferred inflation gauge shows still persistent underlying price pressures
  • St. Catharines Council sides with Merritton builder in development charge dispute
  • Larry’s Rentall carries iconic legacy into the next generation
  • Focus on Technology

St. Catharines seeks feedback on Strategic Plan

City Council wants to hear from residents and businesses on ways to improve and strengthen the City’s Strategic Plan.

Following last year’s municipal election, the Office of the Chief Administrative Officer conducted individual interviews with Councillors to help determine how community needs have changed following the COVID-19 pandemic. It was an opportunity to hear about priorities, concerns, and their vision of what success looks like for the City in the long-term. Staff then recommended Council undertake a Strategic Plan refresh.

As part of the public engagement component, a short survey has been launched on EngageSTC. It was developed out of an Oct. 18 meeting involving Council and the City’s Senior Leadership Team.

Residents and businesses are asked to complete the survey by Nov. 13. Results will then be compiled and presented to Council. It’s anticipated an updated version of the Strategic Plan will be available to the public before the end of the year.

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Niagara Falls now allows 3 dwelling units on a lot

Niagara Falls city council is creating new policies to allow for additional dwelling units (ADU) on properties and to conform with new provincial planning changes.

During its Tuesday meeting, council approved amendments to the municipality’s official plan and zoning bylaw to complement Bill 23, which amended the Planning Act to permit three dwelling units on a lot.

In addition, the city will include duplex dwellings as a housing type permitted to have ADUs and allow one ADU on parcels of rural land containing a detached dwelling.

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Canada moves to reform its international student program

Starting on Dec. 1, Canadian colleges and universities that are enrolling international students will have to verify each applicant’s acceptance letter directly with immigration officials before a study permit is issued.

The new process is one of the reforms announced Friday for Canada’s international student program, and it comes in the wake of a fraud investigation this year that found education agents had provided some 300 international students from India with doctored admission letters to Canadian colleges.

Also, beginning in the fall semester next year, the Immigration Department will start a “recognized” institution regime to vet colleges and universities based on yet-to-be-revealed criteria so the study permit applications from trusted institutions will be processed quicker.

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Federal Reserve’s preferred inflation gauge shows still persistent underlying price pressures

An inflation gauge that is closely monitored by the Federal Reserve showed price increases remained elevated in September amid brisk consumer spending and strong economic growth.

September’s month-to-month price increase exceeds a pace consistent with the Fed’s 2% annual inflation target, and it compounds already higher costs for such necessities as rent, food and gas. The Fed is widely expected to keep its key short-term interest rate unchanged when it meets next week. But its policymakers have flagged the risk that stronger growth could keep inflation persistently high and require further rate hikes to quell it.

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St. Catharines Council sides with Merritton builder in development charge dispute

St. Catharines city councillors agreed the developer of a Merritton residential building was being asked to pay too much in development charges after a hearing this week.

Silvergate Homes-Merritton Mills Inc. made the development charge complaint over its planned five-storey, 71-unit building at 47 Hastings St., behind the Sobeys plaza on Glendale Avenue.

The company argued the city was charging about $436,700 more than it should.

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Larry’s Rentall carries iconic legacy into the next generation

So many rental businesses in Canada that are running smoothly as you read this were started with a dream, a leap of faith and hard work by the present owner’s parents.

The son or daughter learned the business as they grew up, and Dad still comes by the shop even though he’s enjoying a well-earned retirement.

In the case of Larry’s Rentall in St. Catharines, Ont., Larry took the leap in 1994 with his wife Irene by his side. He had one employee (a mechanic/driver) and started with a small amount of used and new equipment. Their son, Trevor, took it over about 20 years later, and Larry still comes by to work on equipment or do other helpful tasks just about every day.

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Did you know?

Toronto’s Yonge Street was once in the Guinness Book of Records as the world’s longest street, at almost 1,900km. This is an error. Yonge Street is 86km long.

Focus on Technology

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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.

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