Breaking News - Tariff Support - The Chamber is your source for Tariff Updates. Check out our page for the latest Tariff Resources, SUpport & Events
Peterborough + Kawarthas Chamber of Commerce
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics
  • About Us
    • About Us
    • Contact Us
    • Board of Directors
    • Staff Directory
    • Careers
  • Events
    • Calendar
    • Host a Chamber Event
    • Monthly >
      • The Business Exchange (TBX)
      • ChamberAM
      • Not-for-Profit Group (NFP)
    • Annual >
      • Luminary Awards
      • Seniors Showcase
      • PK Excellence
    • Campaigns and Connections >
      • Sales Lead Network
      • 26 Coffees
      • #lovelocalptbokawarthas campaign
    • 26 Coffees Program
  • Membership
    • Join Us
    • Benefits >
      • Chambers Plan
    • Profile and Sponsorships
    • Resources
    • Members Only
  • News
    • Voice of Business Podcast
    • Voice of Business
    • The Business Beat
    • Subscribe to e-Newsletter
  • Resource Hub
  • Directory
  • Advocacy
    • Policy Resolutions
    • Advocacy at Work
    • Advocacy Wins
    • Subscribe to e-Newsletter
  • Breaking News - Tariff Support
    • Updates
    • Resources
    • Support
    • Trade Analytics

Growth is here — now what?

2/24/2022

 
​Our region’s population grew by 9,445 people between 2016 and 2021 — an increase of 6.8%
 
That’s above the provincial population growth change of 5.8%, but it doesn’t tell the whole story.
 
What’s most surprising is the imbalance in growth between Peterborough city and county. The City of Peterborough added 2,619 people, an increase of 3.2%, while the county added 6,858 people for a staggering 12% increase — more than double the provincial average.
 
The County of Peterborough’s outgoing Official Plan worked with the projection of the population increasing to 61,000 by 2031. It’s currently at 64,000. The current draft official plan has a revised projection of 82,000 people by 2051. If growth continues at its current pace, it will hit that target by 2031. Even at the provincial average growth rate, Peterborough County will hit 82,000 people by 2041.
 
There is the possibility that at the last 5 years are an anomaly. Perhaps it was the perfect storm of ready-to-go subdivision plans, investments in municipal water and sewer capacity, and a sudden desire for people to get out of the big city and move here. Between 2011 and 2016, the county’s population increased by a respectable 4.4%.
 
Meanwhile the City of Peterborough has been consistently growing at around 3% every five years. The census indicates growth at 4.4% in 2011, 2.9% in 2016, and 3.2% in 2021. It’s on track to hit its growth target of 88,000 people by 2031 as set out in the official plan.
 
Evidently, the desire for growth is still outpacing our ability to provide it. The average house price in January jumped to $814,495. Month-after-month of record-breaking house prices should be a good indication that our region has more growth potential.
 
Growth in this range is going to bring more challenges, especially as more people flock to rural communities.
 
Transportation infrastructure is critical in managing a booming population. We need efficient ways to move people where they want to go. We’re going to find that some of our four-way stop sign intersections can’t handle the volume of traffic any more. Roads will need to be upgraded, passing lanes added, and bridges rehabilitated. There is also a growing desire for better cycling infrastructure and transit service. Facilitating growth includes expanding infrastructure like water and sewer service, recreational facilities, and high-speed internet.
 
Growth can be expensive.
 
But growth also brings opportunity for local businesses. More people living local leads to an increased need for groceries, places to eat, recreational opportunities, and entertainment. Some new residents are even bringing their businesses with them. The overall customer base is growing and that’s a community benefit.
 
The census numbers also show that growth happens with no particular concern for municipal borders, highlighting the need for us to work as a region in our approach to economic development and planning future infrastructure.
 
Regardless of the price tag, our region is in the midst of a population boom. It’s time to embrace the situation, plan and invest in the infrastructure needed to facilitate this growth, and make the most of the opportunities it presents.

iGaming rollout raises concerns

2/22/2022

 
People have been gambling and betting online since the 90’s. It has been consistently growing and has evolved into a multi-billion dollar industry.
 
The Government of Ontario is looking to get a piece of this lucrative sector, setting a launch date of April 4 for its new iGaming initiative.
 
The modernization of gaming revenue in Ontario is an important issue that provides new opportunities while also raising some concerns. It is anticipated that the iGaming initiative will allow the Government of Ontario to capture revenue that might otherwise go to offshore gaming providers. However, we are concerned that Ontario’s approach may come at the expense of current revenue and employment sources our communities depend on.
 
A recent study by HLT Advisory Inc. examining the impact of the iGaming initiative on Ontario’s gaming industry concluded that over the next 5 years there is a potential loss of more than 2,500 Ontario-based casino jobs, $191 million in municipal contributions and $3 billion in Ontario government revenues.
 
It’s not as simple as just regulating and taxing an existing offshore industry — it has real implications for jobs and revenue locally.
 
The Peterborough and the Kawarthas Chamber of Commerce is leading an advocacy initiative, working with eight additional chambers as well as the Ontario Chamber of Commerce, to push for a more cautious, balanced approach to the iGaming rollout.
 
Ontario is not the first jurisdiction in North America to legalize iGaming. Every U.S. state that has introduced iGaming has done so in a coordinated manner with existing land-based casinos. While we remain supportive of proposals to expand opportunities for private enterprise within Ontario’s regulated gaming space, the chamber is raising concerns regarding direct impacts to land-based casino operations as a result of the legislation as currently drafted.
 
We are urging the Government of Ontario to:
 
● Work with stakeholders, including land-based casinos, to minimize local job losses and ensure the addition of iGaming will result in the growth of Ontario-based jobs in the gaming sector;
 
● Provide casino host communities with an iGaming plan that demonstrates a negligible impact on municipal revenue sharing;
 
● Provide municipalities across Ontario with an iGaming revenue sharing agreement with a similar structure to the gas tax program; and
 
● Work with stakeholders to establish a competitive tax rate for iGaming that is fair to land-based casinos but also encourages offshore operators to join Ontario’s proposed framework.
 
Our approach is not aimed at stifling a growing sector, but making sure our foray into it is balanced and doesn’t come at the cost of existing community benefits. We have an opportunity to make iGaming a win for communities across Ontario. Let’s take our time and get it right.

Business outlook gaining optimism

2/11/2022

 
Picture
​After hitting a record low in 2021, business confidence is rebounding with 57% of business feeling confident in the outlook of their 
organization, compared to 48% in 2021.
For context, that’s nearing the 61% of business that were confident in their 
outlook in 2019. Confidence in Ontario’s outlook as a whole is also rebounding at 29% — well above last year’s 21% and nearing 2019’s 30%. Pre- and 
post-COVID figures will be key to measuring our 
recovery, both in broad terms and for specific 
sectors and industries. 
These figures come from the Ontario Chamber of Commerce 2022 Ontario Economic Report, the annual report that offers unique insights into business perspectives from across the province. As with any statistical report in such a changing environment, the numbers are just a snapshot in time and don’t reflect everything that has changed during the research and reporting. In this case, most of the survey work was completed before Omicron brought about a new wave of public health measures. That said, it’s aim is to 
address the large trends rather than the weekly ups and downs.
While optimism is up in a general sense, those lagging behind tend to be smaller businesses, businesses located in border regions, organizations led by women and people with disabilities, and businesses in the arts, entertainment, and 
agricultural sectors.
Along with increasing optimism, fewer businesses are shrinking, with 38% reporting to have shrunk in 2021, compared to 56% the year before.
What businesses expect moving forward:
• Remote work — Most businesses expect to at least partially continue remote work in 2022, though some continue to face barriers in terms of digital skills, 
technology costs, and 
support.
• Labour shortages — 52% of businesses are currently facing labour shortage challenges and many expect that to continue for some time.
• Prioritizing employee health and well-being as well as diversity and inclusion, though the OCC notes many organizations are struggling with formal strategies to support these objectives.
The main policy priorities 
businesses want their chambers of commerce to address are business taxes and electricity costs. Smaller businesses are prioritizing 
financial support while 
larger businesses are focused on infrastructure, regulatory, and workforce development issues.
Optimism is partially being driven by the belief that high vaccination rates are bringing about some stability, but it’s also about growth. Businesses who were well positioned to serve current needs or adapted to do so have seen strong demand for their products and services. Others have used this as an opportunity to invest in new technologies that have helped make their business more resilient and better positioned for growth.
Pessimism is mostly due to uncertainty around COVID-19 and businesses specifically lack confidence in provincial and federal government responses to the pandemic.
Many businesses required some support to get through this last year. Of the programs available, the Canada Emergency Wage Subsidy (CEWS) and Canada Emergency Business 
Account (CEBA) loan 
program were the most widely used with the 
Ontario Small Business 
Support Grant and the Canada Emergency Rent Subsidy (CERS) also proving popular.
Economic indicators are backing up what the 
businesses are saying. According to the Bank of Montreal, the GDP increased 2% in 2019, dropped 5.1% in 2020, then rebounded to 4.2% in 2021 and is on track to increase another 4.1% in 2022. Employment growth follows a similar trend, with a 2.8% increase in 2019, a 4.7% drop in 2020, followed by a 4.9% increase in 2021 and a likely 4.2% increase in 2022.
Other than vaccines making a significant impact on our fight against COVID-19, not a lot has changed over the last two years. COVID won’t be disappearing any time soon and businesses are facing significant issues with supply chains, inflation, and labour access. So what is driving our optimism and growth? It’s really a story of adaptation. Business have risen to the challenge by changing how they do business. They’ve invested in new technology and new ways to engage their 
customers, even though finances were tight. It hasn’t been an easy road, but pushing for a more optimistic future is the way forward.

Province launches Skilled Trades Ontario to grow our skilled trades workforce

2/3/2022

 
Picture
Ontario has been in need of more skilled trades workers for many years, but the urgency is increasing as our trades will play a critical role in our economic recovery.
Despite the pandemic and all of the supply chain issues, increases in material costs, and other disruptions it has brought, a lack of skilled labourers could be the biggest barrier ahead for the construction 
industry. Even current homeowners who have been trying to hire workers to perform renovations and repairs can attest to the difficulty of hiring contractors on any reasonably short timeline.
The Government of Ontario is taking a new approach to skilled trades with a new agency called Skilled Trades Ontario, effectively a replacement for the Ontario College of Trades. The role of this agency is to promote and market the trades, develop the latest training and curriculum standards, and provide a streamlined user-friendly experience for tradespeople. 
The agency will offer an online service that will help apprentices manage their careers in a central place that includes scheduling classes and exams, submitting forms, and paying fees. It is also expected to reduce 
processing and registration from 60 days down to 12. Enforcement has shifted to the Ministry of Labour, 
Training and Skills Development.
According to the Government of Ontario, one in five jobs will be in the trades by 2025. They also note that the previous Ontario College of Trades had a discouraging effect on people entering the trades with registrations dropping by 40%. The average age for an apprentice is currently 29 years old. The Province expects retirements to be a big challenge in the near future, noting in 2016 nearly one in three journeypersons were age 55 or older. It’s estimated that Ontario could be short as many as 350,000 skilled workers by 2025.
The new agency is being received with optimism by a number of industry stakeholders, unions and associations.
It’s reassuring to see more investment in encouraging people to pursue a career in the trades. The need for more skilled workers predates the pandemic. Some of the barriers around access have been addressed while a concerted effort from our governments, schools, and industry 
associations is having a positive impact on 
addressing the stigma around trades jobs. 
The needs of the modern tradesperson have changed as well. There is a need for proficiency with the latest technology and an 
understanding of issues and opportunities around climate change.
There is still a long way to go in filling the need for skilled workers. The 
pandemic has exacerbated our labour issues into a shortage across sectors and industries. Young people entering the workforce have a lot of options on what direction to take their career.
Our leaders continue to plan for our recovery from this pandemic and one of the recurring themes is the need for people. The issue isn’t that there are scores of people unwilling to join the workforce. While some have removed themselves from the workforce for various reasons, our employment participation rate in 
Peterborough is higher than it was before the pandemic. 
The people shortage appears to be a symptom of desire for growth. Nowhere is this more apparent than construction. We can't build quick enough to meet 
demand, from homes to public infrastructure projects to new industrial and 
commercial developments. We’re struggling to find enough people to produce the materials we need, offload them in ports and railyards, process them in warehouses, and transport them where they need to go — and that’s just getting to the point of starting construction.
Investments in a skilled workforce were needed before COVID took our economy for a roller coaster ride and they're even more important now as we try to recover. Hopefully Skilled Trades Ontario is able to make good on its mandate and assist in developing the skilled workforce we need. We won’t make up for the shortage of skilled workers over night, but we’re 
heading in the right 
direction. 

    Author

    The Peterborough and the Kawarthas Chamber of Commerce acts as a catalyst to enhance business growth, opportunity, innovation, partnerships and a diverse business community. 

    Archives

    May 2025
    April 2025
    March 2025
    February 2025
    January 2025
    December 2024
    November 2024
    October 2024
    September 2024
    August 2024
    July 2024
    June 2024
    May 2024
    April 2024
    March 2024
    February 2024
    January 2024
    December 2023
    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    January 2015

    Categories

    All

    RSS Feed

Copyright Greater Peterborough Chamber of Commerce.  ​All rights reserved.
175 George Street North, Peterborough, ON, K9J 3G6
Phone: (705) 748-9771  |  (705) 743-2331  
Home    |    Calendar    |   Site Map   |    Privacy    |    Accessibility
Join the Chamber
Picture
MemberClicks