Vulnerabilities in Ontario's economy pose challenges to our prosperity. Government
must prioritize growing the economy, creating jobs and driving a competitive advantage.
Tuesday, February 7, 2017 - The St. Thomas & District Chamber of Commerce in partnership
with the Ontario Chamber of Commerce (OCC), releases the inaugural Ontario Economic
Report (OER), a landmark agenda aimed at shaping and informing future public policy.
The OER includes entirely new economic analyses that demonstrate the difficult economic
environment faced by Ontario businesses and consumers in 2017. The report also contains
exclusive economic information pertaining to the London/St. Thomas region.
Our report includes the results of the OCC's new Business Confidence Survey conducted
in partnership with Fresh Intelligence, a Business Prosperity Index developed by
the Canadian Centre for Economic Analysis (CANCEA), and an Economic Outlook for
2017 prepared by Central 1 Credit Union. These datasets, viewed together, reveal
broad challenges to Ontario's economic health.
"Our research shows that Ontario's economic climate is posing challenges to the
businesses we represent and Ontarians more broadly," said Allan O'Dette, President
and CEO of the OCC. "Investment is being held back because of a high perception
of risk. We need immediate action in order for our province to continue to grow
Local economic outlook data reveals a substantial rise in net migration and an uptick
in the labour force over the last three years with similar trends predicted to continue
over the next two years.
The results of the OER highlight the key policy issues that the Chamber intends
to prioritize in 2017, including workforce development, infrastructure, energy,
and health care. Central to the organization's work is the notion that industry
and government tackle these issues together, in order to grow economic prosperity
and drive positive change for all Ontarians.
There are two documents being released today. For specific economic data,
See pages 19 and 20 for London and St. Thomas. For the full OER,