At the beginning of 2016, the province made a number of changes to its growth plan to better address Ontario’s projected population growth. These adjustments envisioned Niagara with a population influx of 170,000 new residents and 80,000 new jobs by 2041. This new economic shift forced the Region to revisit its own 2041 Growth Strategy in order to accommodate this growth potential.
In preparation for this new strategy, a number of key elements were identified as necessary in order to ensure economic and residential growth. These elements included attracting foreign investment, more constructive planning for development land and improved transportation infrastructure to connect Niagara to the GTA.
Looking back at 2016, the Region made a number of important economic growth steps in relation to the key elements identified for smart growth.
Attracting Foreign Investment
The most notable and publicized steps towards attracting foreign investment to Niagara was GE’s choice to relocate its gas-engine factory to Welland, Ontario. From a positioning perspective, Niagara’s designation as Foreign Trade Zone point in 2016 is a positive step for Niagara and has the potential to build a larger import and export industry in the area.
Transportation
Two important announcements were made over 2016 that will facilitate a greater connection between Niagara and the GTA. First, a daily flight service was introduced by Greater Toronto Airways flying out of the Niagara District Airport and landing at Billy Bishop Toronto City Airport twice daily.
A long awaited announcement was made from the Ontario government regarding the expansion of GoTrain service first into Grimsby and then further into St. Catharines and Niagara Falls. While this service is still years away, the announcement is a significant and necessary for building Niagara’s transportation infrastructure.
Land Development - Secondary Planning
Many Niagara communities committed to making constructive planning for development a priority. This can be seen from planning sessions across the Region including, the Thundering Waters Secondary Plan, the Prudhommes Secondary Plan and the Port Dalhousie Secondary Plan.
More Economic Development News in Niagara
There were economic growth steps for Niagara in many other areas:
- New OLG investment - 5000-7000 seat theatre announced for the Fallsview Casino
- St. Catharines/Niagara had a near five percent rise in employment.
- Tenant GM contract awarded
- Brock University and Niagara College attendance growth and infrastructure investments
- Continued residential growth of Casablanca in Grimsby, Thundering Waters in Niagara Falls, etc.
- Residential real estate boom
- Retail and commercial growth of Fourth Avenue in St. Catharines
Niagara is growing, now is the right time to investment. To discuss investment opportunities connect with Greg Chew below.
