In recent news, it has been noted that Niagara’s growth forecast has been deemed modest. But is this actually the case?
Between 2013-2015 a whopping 9,800 jobs were added in Niagara, promoting an increase in the region's growth. There has been talk that by 2021 nearly another 11,000 jobs are to be available throughout Niagara. With this rapid increase in jobs, the growth in the region seems to be on an upward incline. Not only are jobs being added to the area, but with the planned expansion of GO, transit will assist in promoting additional growth.
Investments to Promote Growth in Niagara
Over the next few years, the Niagara Region is expected to see an increase in jobs. Fueled by the low Canadian dollar and healthy U.S economy, it is predicted that more companies may relocate, potentially promoting an increase in jobs within Niagara. Not only will this add to the region's economy but it will allow for an increase in the number of available jobs. Also, with the $240-million General Electric plant being built in Welland and the $120-million investment in General Motors engine and transmission plant in St.Catharines, there is bound to be an increase in the area's growth.
Development Upon Development
In previous blogs, we’ve mentioned the various new developments that are being built in the area. Between the Prudhommes development, the residential development that is to take place in the former GM site on Ontario Street, and the subdivisions booming in Welland and Port Colborne, we notice a constant increase in residential developments. The predicted increase in jobs and a number of developments that are either in the planning phase or already in development, Niagara is definitely in the growth stage. Not only are a number of residential developments being built over the area but as are additional commercial developments. A new dog park is being built in Niagara Falls, along with a new theater which may potentially replace the Avalon Ballroom.
Go Transit Expansion Assisting in Niagara's Growth
For those individuals who work in the GTHA but can’t afford to live in the area, they will have the opportunity to relocate to Niagara without having to worry about completing that treacherous drive. An expansion in the GO train service has been proposed for launch around 2021. The expansion of the GO train in Niagara, it will allow for more families to live in the area and eliminate them having to drive to the GTHA for work. Expansion of the GO Transit promotes additional growth in the region.
With additional jobs being created in the area, the expansion of the GO and new developments constantly being built, Niagara seems to be on an incline in growth. Not only are these factors promoting the growth of Niagara, but it is also assisting to boost our economy.
