Economic News Around the North, December 9th Edition

Winter finally arrived here in Thunder Bay this week with a plethora of  snow, cold and ice.  I left for a short trip to Montreal on Monday afternoon with rain and warm temperatures and returned the next evening to a winter wonderland.  What better way to spend a cold Saturday here than by warming up the house with homemade pizza....



Without further ado, here are some of the stories making the economic news recently in northern Ontario.

Rising tourism boosts local economy. TBNewswatch, November 25th, 2017.

This is yet another positive economic impact story. However, tourism falls far short of the economic impact of Lakehead University as one recalls from this past story.

The Ring of Fire and its associated "production facility" have also been making the news again in the region.

Sault mayor confident in Ring of Fire Smelter pitch. Northern Ontario Business. November 21st, 2017.

Smelter won't go where it's not wanted, Noront. Northern Ontario Business, December 6th, 2017.

The smelter (or the "production facility") is seen as providing volume that would make the troubled Ontario Northern Railway more viable....

Noront facility could make ONR viable: Timmins councillor, Sudbury Star. December 9th, 2017.

Of course, if you don't get the smelter, there is always the option of storing nuclear waste.  Ignace, Manitouwadge and Hornpayne are all still in the running along with two sites near the Bruce Reactor - South Bruce and Huron-Kinloss.

Nuclear fuel bunker shortlist includes 2 sites near Bruce reactor. CTV News Kitchener. December 6th, 2017.

Despite the allure of smelters and nuclear waste disposal sites, there is still a search for economic visions in the north.  The Sault is obviously taking the lead in what is one of northern Ontario's booming sectors - economic development consultants.

Sault Ste. Marie seeks economic development vision.  TheSudburyStar.com. December3rd, 2017.

And another economic development vision seems to be in the offing in Timmins....

Bolivian economic development group in Timmins. Timminspress.com. November 27th, 2017.

On a positive note....

Sudbury adds 600 jobs in November. TheSudburyStar.com. December 2nd, 2017.

However, Sudbury's unemployment rate edged up slightly to 6.2 percent from 6.1 percent.  Meanwhile, Thunder Bay's rate also went up to 6.1 percent from 5.8 percent the previous month.

Another item of relevance to northern Ontario.

Indigenous youth key to Canada's economic growth. Business Vancouver. December 5th, 2017.

Have a great weekend! Its time to enjoy the pizza.