Chew's News

A number of months ago I posted an article discussing the likely spur in development due to the new Niagara Go Station in Grimsby. 

The Niagara Region is responding early by asking residents to offer input on how to handle the predicted growth from the GO Train expansion into Niagara.  

Just over a year ago Niagara was named Ontario’s first Foreign Trade Zone, and in that first year, we are already experiencing the rewards.

Each year the World Bank releases a Doing Business ranking. The process considers 88 factors across 10 different categories analyzing potential success for new businesses in a country.

Canada placed above average in a majority of the categories, securing it’s 2nd place rank out of the 200 countries that make up the Organisation for Economic Co-operation and Development (OECD).

Below are the categories in which Canada excels and that determine why the World Bank sees Canada as a great place to do business:

Canada is seeing a rise in foreign investment in commercial development. For the second consecutive quarter foreign investors put more money into the commercial market than private Canadian investors. In fact, they accounted for 41% of all activity, Canadians accounted for 24% of investment activity in the market.

There has been a 33% increase in foreign investment since 2015, totalling $34.7 billion dollars in commercial development funding.

Fourth Avenue in St. Catharines is the city's fastest growing commercial node. Construction of the new Niagara Health System (NHS) site was a deciding factor for many investors to begin construction on the vacant lands that surround it. As of the beginning of this year, there are three large in-construction/established commercial projects that mark these lands including First Place, Fourth Avenue West Shopping Centre and the Pathstone Mental Health Building.

These new additions have further cemented Fourth Avenue as a major commercial/retail destination within the city joining the likes of retail giants at Glendale Ave., Lake St., Geneva St. and Ontario St.

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.

A strategic priority meeting held by Welland City Council on October 3rd, saw the city formally adopt a number of priorities to move through the end of the 2018 term. These priorities are set to act as a road map or guide for decision making for the city according to Mayor Frank Campion.

"These priorities will guide our discussions and decision-making over the next two years and they provide a road map on the direction the City is going," stated Welland Mayor Frank Campion.  "We will also continue to inform and engage residents and key community stakeholders."

img source: @iflygta
 

A commute time of 12 minutes to Toronto just became a reality. In an announcement, earlier this afternoon Greater Toronto Airways confirmed a daily flight service between Toronto's Billy Bishop Toronto City Airport and Niagara's, Niagara District Airport will start on September 15th. 

Profitguide magazine released their annual Canada’s Best Places for Business list this week and St. Catharines made the top 10 list of most affordable Canadian cities. This designation might surprise some Niagarans if they have been watching the residential real estate market but, the statistics that helped St. Catharines achieve this ranking are solid.

St. Catharines ranks 9th on the Most Affordable Places for Business for 2016 list, a list determined based on the price of office, retail and industrial space, electricity costs and housing prices.  

image source

In April, Niagara was officially designated as a foreign trade zone by the federal government. This designation effectively allows businesses who import goods and raw materials for assemblage and storage the opportunity to participate in government programs that defer taxes and duties and free up cash flow.

The designation positions Niagara as a more favourable destination for both foreign and domestic investment. Niagara is already positively positioned in respect to proximity to the US market, readily available skilled workforce and serviced industrial development land. What this designation does then, is improve Niagara’s ability to compete as an industrial destination worth investing in on a global scale.