NORTHERN ECONOMIST 2.0
An Ontario economics and policy blog.
Northern Economist 2.0
Tuesday, 25 April 2017
Economic News Around the North: April 25th Edition
It has been a very busy few days when it comes to economic news affecting northern Ontario. Here is a quick summary of stories:
Well, the softwood lumber dispute is back. Just as the industry in northern Ontario was beginning to recover from the forest sector crisis, there is going to be a tariff on softwood lumber. The rates apparently range from 3% to 24%. Resolute is facing a 12.82 percent tariff with other producers in northern Ontario apparently getting the blanket tariff of 19.88 percent.
Canada vows to fight 'unfair and punitive duty' as Trump slaps tariff on softwood lumber.
Financial Post. April 25th, 2017.
Ontario is launching its basic income pilot project and the northern Ontario city selected to participate is Thunder Bay (along with Lindsay and Hamilton) where about 1,000 households will be selected to participate. According to the news item reported here: "A single person could receive up to about $17,000 a year, minus half of any income he or she earns. A couple could receive up to $24,000 per year. People with disabilities could receive up to $6,000 more per year."
Ontario basic income pilot to launch in Hamilton, Lindsay and Thunder Bay.
CBC News, April 24, 2017.
I would imagine that none of the Thunder Bay recipients basic income will be residents of the new housing development approved by Thunder Bay City council this week. A 49 lot subdivision was approved that really is a testament to urban sprawl and an example of poor long-term financial planning given the costs of servicing the infrastructure. Ultimately a three kilometer sewer line will have to be extended from Parkdale to the new subdivision. That is a long sewer line to put through very low urban density areas.
Maplewood Estates expansion approved by Thunder Bay city council
. CBC News, Thunder Bay, April 25th, 2017.
In other news around the north.
New flight training centre could create up to 150 jobs in Sudbury
. Northern Ontario Business. April 18th, 2017.
Northern Ontario railway still struggling
. SudburyStar.com. April 25th, 2017.
The release of the latest in a series of Northern Policy Institute reports on boosting immigration.
Project aims to attract immigrants to the North
. Sault Star, April 20th, 2017.
Decline in available workers a growing concern
. Timminpress.com. April 18th, 2017.
Also in the Sault:
Ontario Supporting Craft Brewery Expansion in Sault Ste. Marie.
Ontario.ca, April 21st, 2017.
City pleads the need for Essar's tax money
. Sault Star. April 19th, 2017.
Some controversy still in North Bay regarding a new casino project.
Casino risky for economy
. Nugget.ca., April 20th, 2017.
Is help on the way for northern Ontario from the federal government? Apparently: "
The federal
government is working to attract jobs and qualified people to Northern Ontario in an attempt to turn around the loss of population – particularly young people – according to the federal minister of Innovation, Science and Economic Development.
"
"All-hands on deck" needed to reverse trend-minister
. Nugget.ca. April 20th, 2017. It was not exactly specified if the ship was heading into stormy waters or was sinking and needed to be abandoned.
And remember, Thursday is budget day in Ontario. For my take on what to expect? See
this
.
Have a great week.
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