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October 2013 Ontario Economic Fundamentals

Ally

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Some good news for Oshawa




The announcement General Motors will be keeping its Oshawa Consolidated Line open until 2016 is indeed a welcome one.




Without the extension, the line would have closed in 2014, putting hundreds of people out of work at GM, but also affecting the livelihoods of many others whose businesses and incomes are attached to what happens at the plant.





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Ally

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Windsor sells comeback story in Toronto





Never mind Detroit.






Its nearest neighbor, the City of Windsor, is in better shape than it has been in years. And it`s looking to attract more business from the Greater Toronto Area.






That`s the message Windsor Mayor Eddie Francis and Windsor Essex Development Corp. chief executive officer Sandra Pupatello came to sell to Toronto on Thursday.






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Ally

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Laurentian campus to open in Barrie




The story of Barrie is one of growth. With a population of more than 140,000 and a strategic reach into the GTA, Barrie is the largest census metropolitan area in Canada without a university. We know that Barrie is ready for its own university campus. Laurentian has been a significant part of the Barrie community for over a decade, with a range of programs that enrich the post-secondary opportunities open to this fast-growing region, and we're ready to build that university campus. Join us in saying #itstime for a Laurentian University Campus in Barrie.





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Ally

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Chrysler sets up shop in $22 million McMaster Innovation Park project




Three new automotive research projects will help McMaster University fight for jobs in Canada, said the man in charge of $24.2 million in new funding.




Ali Emadi was effusive in his praise for government and industry money announced at the McMaster Automotive Resource Centre Friday.





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Ally

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How much is Toronto actually paying for its Scarborough subway?




What`s the difference between Oakville and Mississauga gas plants, scrapped mid-campaign 2011, and Scarborough light-rail transit, scrapped mid-campaign 2013?




This time, the province isn`t on the hook for the costs of the last-minute switch: Toronto is. And we still don`t know how much that`ll be





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Ally

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Greater Toronto Area office market pauses in wake of new development cycle and burgeoning sublet space






TORONTO, Oct. 28, 2013 /CNW/ ` The Greater Toronto Area (GTA) office market continues to deliver disappointing results. However, despite falling occupancy levels and rising availability and vacancy rates to date, the rental market, though fragmented, remains intact. A burgeoning sublet market is also raising concerns, having jumped 30% in the past year to 3.7 million square feet (msf) at the conclusion of the third quarter of 2013. All of these conditions are transpiring as the market braces itself for a new wave of office development, starting later this year and continuing through 2017.





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Ally

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Toronto plans affordable condo rentals on the waterfront




The city is looking at buying as many as 75 suites in a proposed waterfront condominium and offering them as affordable rental units to people with lower incomes.




If council approves the plan, the city would use about $15 million from a federal-provincial affordable housing program to buy dozens of condos in a proposed building near Queens Quay East and Bonnycastle Street. The building would be situated in the Bayside neighbourhood in the East Bayfront development.





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