Written by
Robin Cooke
—
July 27, 2023
New agreement will support increased trade and job creation in both jurisdictions
Ontario and Michigan are building on their longstanding economic relationship through a new partnership that will increase trade, attract investment and encourage job creation in both jurisdictions. The new Economic Cooperation Memorandum of Understanding (MOU) will support joint initiatives in priority areas, such as electric vehicles and related supply chains. These initiatives could include joint trade promotion and missions, new post-secondary exchange programs, and efforts to identify opportunities for strategic partnerships that will help businesses compete internationally.
The agreement was signed today by Premier Doug Ford and Governor Gretchen Whitmer during a virtual ceremony. They were joined by Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade.
“Ontario and Michigan share deep economic ties as partners, neighbours and friends,” said Premier Ford. “This agreement will help open even more opportunities to work together and drive further economic growth. As we navigate global uncertainty, now is the time to strengthen this important relationship to build our economies, further integrate our supply chains and create good-paying jobs on both sides of the border.”
The Sarnia Lambton Chamber of Commerce joined more than 250 organizations, representing hundreds of thousands of businesses across Canada, to send a letter to The Honourable Chrystia Freeland, Deputy Prime Minister, Minister of Finance to urge the Canadian Government to extend the current Canada Emergency Business Account (CEBA) repayment deadline by two years to the end of 2025, or at least by one year, while maintaining access to the forgivable portion.
It was stated that unless the federal government acts quickly to postpone the CEBA repayment deadline, businesses that are unable to repay their CEBA loan in time will lose access to the forgivable portion of up to $20,000, thus further increasing their debt load. Extending the repayment timeline for the CEBA loan without losing access to the forgivable portion would give many small-and-medium size businesses the stability and certainty they need to get back on their feet on a path to prosperity.
The Canadian Chamber of Commerce, Canadian Federation of Independent Business, Restaurants Canada and the Tourism Industry Association of Canada, who are working on behalf of businesses organizations across Canada requested and would welcome the opportunity to meet with the Minister of Finance to expand on this important matter.
Join us on August 1st at 6:30pm for the next YP hosted by Julie Ward, Co-Operator Insurance and Health Counseling & Therapy at 162 Cromwell Street.
Register today for this fun event with a chance to get connected and share ideas with other young professionals in the community!
Canadian consumers kept spending in the second quarter of 2023, continuing a trend of resilience in the face of higher interest rates and affordability challenges. But will this summer finally mark a turning point?
In our latest data dive, indications are that spending turned a corner after the Bank of Canada resumed its interest rate hikes in early June. It's possible that this summer things may begin to change for Canadian consumers and Canada’s economy. Forecasters have repeatedly pushed off the timing for a recession, as consumers, labour markets and housing have surprised on the upside. As the BDL team looks ahead, they expect consumer spending to slow noticeably in the second half of the year as people cut back on discretionary purchases.
Through our Local Spending Tracker find out what’s going on in your region.
So, what is a mastermind group really? It is a “meeting of the minds” – a place where you can speak the truth and expect it in return. In the book Think and Grow Rich, Napoleon Hill describes a mastermind group as the “Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.” He says that when a group of minds come together, they essentially create an unseen, powerful force—a mastermind.
Fabulous three course meal, three Yuk Yuk's funny people, Sarah Woodley and Rob Jenkins as our emcees, awesome silent auction prizes and you won't believe the live auction prizes! All this, and...the proceeds of this evening go to Six non-profit members who give so much to our community. Get your tickets today and share the laughs with us!
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