September 2019
Ontario Chamber of Commerce Releases Report on Economic Development

2019-09-19 2:30:55 PM


The Ontario Chamber of Commerce (OCC) has released a report on how governments at the local, provincial, and federal level can work with industry to bolster the province’s regional economies and improve competiveness.    

The report, titled The Great Mosaic: Reviving Ontario’s Regional Economies, looks at the strengths, opportunities, and challenges of different communities in Ontario and proposes 17 recommendations.

Key takeaways of the report include:

  • Modernizing economic development to promote regional collaboration and empower non-governmental stakeholders;

  • The most cost-effective way to push economic development is to create an environment of talent, trade, and infrastructure to merge the success of traditional and emerging sectors; and 

  • Innovation is key to productivity and growth

Recommendations include modernizing regulations, enhancing the use of data, and investing in infrastructure. The report indicates that if such recommendations are followed the “province can successfully navigate the changing economy”.

OCC’s report comes in the context of a changing local economies for a number reasons including new and emerging technologies, migration to urban centers, and an aging population.

To read the report, please click here.


 


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