March 2014 Ontario Economic Fundamentals

[Ally]

BlackBerry to shut down Ottawa product development centre





BlackBerry has laid off nearly 100 workers in Ottawa as part of employee reductions across the province.





CBC News confirmed that in addition to the layoffs, the Ottawa Product Development Centre hardware group would be shut down.





Read the full article here.

 

[Ally]

Toronto homebuyers are getting younger...and aiming for condos










Real estate agent David Fleming recently rushed a client off to see a unit in the Vinegar Lofts on River Street.





The 38-unit building is a sought-after hard loft conversion, so Mr. Fleming knew the unit would be popular even with a $700,000 asking price.





Read the full article here.

 

[Ally]

Blackberry reaches deal to sell big chunk of its Canadian real estate





Canada-based BlackBerry is moving ahead with plans to sell off a large chunk of its home-turf real estate as CEO John Chen endeavors to streamline costs as part of his ongoing battle to turn the company around and return it to relevancy.





The plan to sell off the majority of its Canadian real estate holdings ` comprising more than three million square feet of floor space in around 20 buildings ` first came to light a couple of months back when Chen claimed the sale would `further enhance BlackBerry`s financial flexibility.`






Read the full article here.

 

[Ally]

More seats being added to Barrie GO trains





Tweaks made to Barrie's GO train service are in line with Barrie's growth.





GO Transit's parent company, Metrolinx, announced upgrades to the GO train and bus service across the GTA, including adding two new train cars to the Barrie line, as well as more service on the line south of Newmarket.





Read the full article here.

 

[Ally]

Toronto to be home to $100 million Cisco innovation hub





Toronto, Ontario - In the latest blow to American technology and economic pride - and a boon to Canada's high tech ambitions- Cisco Systems Inc. this week disclosed plans to create a new $100 million global innovation hub in Toronto, Canada`s largest city, bypassing U.S. tech centers like Silicon Valley and Research Triangle Park.





Cisco Systems Inc. will reportedly invest up to $4-billion in bolstering its research-and-development hubs in Ontario, a move said to add up to 1,700 new high-tech jobs. The Ontario government ` which is kicking in up to $190-million for the first phase ` trumpeted it as "the largest-ever investment in the province`s tech sector."





Read the full article here.

 

[Ally]

Number of EI recipients falls in Ottawa in January








There were 6,910 people collecting EI for the month, down from 7,120 recipients in December.





That number also represented a year-over-year decrease. There were 7,250 people collecting benefits in January 2013.





Read the full article here.

 

[Ally]

Manpower predicts weak hiring in Ottawa for Q2





According to the company, 13 per cent of employers in Ottawa are planning to hire new staff during the three-month period beginning April 1.





The survey found that seven per cent are planning cuts, while another 77 per cent plan to keep staffing levels steady. Only three per cent of respondents reported that they aren`t sure of their hiring plans.





Read the full article here.

 

[Ally]

Shortage of house listings in Toronto could be a boon for condo sales






The shortage of single-family homes for sale across Toronto is likely to buoy the resale condo market this year as first-time buyers look for an affordable alternative to a place with a picket fence, says a new report from Scotiabank.







It appears to be the lack of listings ` and not lack of demand ` that`s holding back home sales but pushing up prices in Toronto, says the latest Scotiabank Global Real Estate Trends report released Friday.





Read the full article here.

 

[Ally]

Simcoe new growth heading south





Council approved two new subdivisions with a combined total of more than 900 homes at the south end of town at a meeting March 18.





The two new subdivisions, though being constructed by separate developers, will be built close together, just south of Line 6, one on the west side of Simcoe Road and the other on the east.





Read the full article here.

 

[Ally]

Two proposed London apartment complexes get green light





Two apartment complexes planned for the north edge of London both got the green light.





A three-building complex at Adelaide St. and Sunningdale Rd. proposed by Drewco Development Corp. will have 314 units. One building is seven storeys facing Adelaide St. while two others on the south side of Sunningdale will be four storeys.





Read the full article here.