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Port Stanley News RSS Feed  News Outlook for Local and Provincial Economy: London/St. Thomas Region


St. Thomas & District Chamber of Commerce
Outlook for Local and Provincial Economy LondonSt Thomas Region

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 and prosper."

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, https://chambermaster.blob.core.windows.net/userfiles/UserFiles/chambers/2614/File/Central1OntarioEconomicAnalysis2017.pdf

See pages 19 and 20 for London and St. Thomas. For the full OER, https://chambermaster.blob.core.windows.net/userfiles/UserFiles/chambers/2614/File/FINAL_OntarioEconomicReport2017.pdf

Last Updated: Wednesday, 15 February 2017 11:38:55 AM EST

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