Vaughan Economic Development’s Post

In the June 2024 Vaughan Economic and Business Update: ✅ The national Consumer Price Index rose 2.7 per cent year-over-year in April following a 2.9 per cent increase in March. ✅ The national unemployment rate rose 0.1 per cent to 6.2 per cent in May. ✅ Real Gross Domestic Product was unchanged in March following a 0.2 per cent increase in February. ✅ In May, the Vaughan Business and Entrepreneurship Centre experienced a demand for consultations in the retail trade, accommodation and food services, and wholesale trade industries. ✅ Ontario Government | Gouvernement de l’Ontario announced $6 million in funding to train more than 1,000 carpenters in Vaughan and across Ontario. ✅ Mackenzie Health launched innovative IV pump technologies at Cortellucci Vaughan Hospital and Mackenzie Richmond Hill Hospital in April. ✅ Vaughan-headquartered Drone Delivery Canada and Oro-Medonte-based Volatus Aerospace announced a merger of equals to become a global leader in drone technology and services. ✅ Vaughan-headquartered Fastfrate Group was recently recognized as one of Canada’s Best Managed Companies. Want to receive more insights like this to help your business grow? Our team provides monthly economic insights featuring national, provincial and local investments, trends and highlights. Check out June’s update to learn more about our local economy: https://lnkd.in/gtRwUxBk #TAPintoVaughan #VaughanAdvantage #VBEC #EconomicAndBusinessUpdate York Link | York Region Economic Development Vaughan Chamber of Commerce Toronto Region Board of Trade

This episode is insightful as Jim shares his thoughts on prioritizing job quality over quantity - have a listen and let me know what you think ⤵️

Last night I sat next to somebody from the local council. I won’t embarrass them by saying who but we engaged in very interesting conversation about the Planning rules around Oxford. Two particular points: - How the council are often portrayed as constraining the growth of companies that start here. - The natural discomfort between the influx of elite and skilled students and workers and locals. Those who may never see or experience direct benefits, but do see the effect of higher house prices and feel pushed out of their home City. This article is exceptionally interesting from the perspective of how the few will drive outcomes for the many. Should we be challenging this rhetoric head on to ensure we can attract, retain and allow to flourish this skilled elite and the companies they will grow? #innovation #superelite #globalworkforce We must roll out red carpet for next big idea

Is Ontario moving towards a post-industrial, or “knowledge”, economy? Not so fast, according to Jim Stanford of the Centre for Future Work. Jim covers this topic—and many other insights on the future of manufacturing jobs—in Episode 7 of Making it in Ontario. Listen now: https://lnkd.in/gN3QPB4a #Manufacturing #Jobs #Future #FutureOfWork #PostIndustrial #Knowledge #Economy #KnowledgeEconomy Michelle Samson, MAES, Ec.D. Storied Places Media Brendan Sweeney #ManufacturingInsights #OntarioManufacturing #ManufacturingSuccess

Read about a new economic strategy to promote manufacturing and economic growth in the Lehigh Valley.

GPR global news share through the lens of SMH. Where Sydney’s million new jobs are coming from and moving away from its depencay on fossil fuels. Five industries are poised to drive Sydney’s economic future, with new forecasts showing finance, biotech, digital-tech, advanced manufacturing and clean energy could add a million new jobs in the city by 2050. Sydney has consolidated its position as the largest economic engine in the country during the past decade and accounts for one-fifth of national economic activity, a new report by the Committee for Sydney think tank says

Thanks to Brendan Sweeney, Trevor McPherson and Hamilton Galloway for sharing their insights into the economic benefits of Toronto Pearson in this podcast with the Hub - https://lnkd.in/gUTZWffh Toronto Pearson and its surrounding employment lands are an economic engine for the country. With over 50K employees, the airport generates $17.7B in direct GDP across Canada, directly supporting 120K jobs across Canada and contributing over $6.5B in annual tax revenues nationwide. However, proximity to the airport is where the real economic magic happens - the Pearson Economic Zone, the employment area surrounding Toronto Pearson, and spans the municipalities of Mississauga, Toronto, Brampton, Vaughan and Caledon, is the largest employment area in Canada and includes over 500K jobs. Home to a diverse array of companies, with over 18,000 businesses spanning a range of sectors, including transportation, engineering and tech, the Pearson Economic Zone also features North America's largest concentration of manufacturing companies, coalescing production in aerospace, automotive, food processing, life sciences and plastics. Representing over 8% of Ontario's GDP, Toronto Pearson and its neighbours are Canada's economic runway. Christina Kakaflikas, Clare Barnett, Patrick Tobin, Susana Vaz, Denise McClure, Raphael Costa, Amanda St. John, PMP, Jonathan Wheatle, Robert Unterman, Gordon Scheel, CITP, Jaipaul Massey-Singh, Phinjo Gombu, Giles Gherson, Andrew Weir, Victoria Clarke, CDME, Daniel Hengeveld, and Stephen Lund ICD.D., Paul Blais, and Iain Dobson.

Manufacturing sector skilled labour shortages   Manufacturing is a crucial asset to the country’s economy, especially in the regions Harworth works across with ambitions to establish globally competitive manufacturing clusters and other emerging industries.   The sector makes up nearly 10% of the UK’s economy but a recent report by Make UK and BDO reveals 64,000 vacancies still remain in the sector due to skilled labour shortages.   We cannot make the most of this vital industry that will deliver regional economic growth if business does not have access to the relevant skilled workers needed to support it.   Before the election, Harworth called for an evolved approach to developing skills and harnessing the talent we need to fuel a thriving economy – so the launch of Skills England is very welcome.   It’s now ever more important to invest in the manufacturing sector, upskill the next generation, and promote industry-government collaboration to ensure our regions can build on their industrial heritage.   Read more on Harworth’s proposals for future skills in our Blueprint for Growth: https://lnkd.in/ew3hPjeF #skills #development #regeneration #advancedmanufacturing

Unlimited Potential: Western Sydney's Economic Strategy is important and agenda setting work from the Centre for Western Sydney. I encourage you to read this comprehensive blueprint, which focuses on ensuring the people of our region can benefit from the economic and social transformation underway in Western Sydney. More on this to come! https://lnkd.in/g_uKaBtq

As we wrap up the year, the Victorian Economic Growth Statement sets the stage for incredible opportunities in 2025! Now is the time to prepare. At Tendertrace, we help organisations navigate government procurement, align with key policies, and position for success. The Victorian Economic Growth Statement outlines significant investments across various sectors and initiatives aimed at driving economic growth, creating jobs, and fostering innovation. ""Here a few of the Priority Sectors "" These investments present vast opportunities for businesses across all sectors, particularly for those ready to align with Victoria’s strategic focus areas. If approached strategically, businesses can position themselves to leverage these opportunities for growth and innovation. +Advanced Manufacturing and Defence: Modern methods of construction (e.g., prefabricated and modular). Defence contracts and advanced technologies for supply chain opportunities. +Health Technologies and Medical Research: Expansion of medical research and mRNA manufacturing facilities. Clinical trials and commercialisation of health innovations. +Circular Economy: Renewable energy, waste-to-energy projects, and critical minerals processing. +Digital Technologies: Investments in AI, quantum computing, and digital innovation. Skills development for the growing tech workforce. +Agribusiness: Supporting food innovation, export growth, and agritech advancements. Applications of RNA technology to boost crop yields and sustainability. +Regional Development Unlocking Trunk Infrastructure: Investments in water, sewerage, roads, and electricity to enable industrial land use. +Tourism and Destination Marketing: $7 million cooperative fund to attract visitors and boost local economies. +Support for Regional Businesses: Simplified regulation and new Launching Pads to connect entrepreneurs and investors. + Hydrogen and Renewable Energy Clusters: Focus on Gippsland and other regional hubs for green energy industries. +Aboriginal Leadership and Business Support: Establishing a First Peoples Leadership Academy. Hosting the World Indigenous Business Forum in 2025. +Digital Jobs and Workforce Reskilling: Focused on sectors like manufacturing, medtech, and construction. + Major Transport Projects: Continuing delivery of key infrastructure like the Suburban Rail Loop, Metro Tunnel, and freight hubs. Let’s make 2025 your best year yet. Start planning today! See the full report here - https://lnkd.in/dJHCYM6t #Procurement #EconomicGrowth #Victoria #BusinessOpportunities #Tendertrace