Economy Thread

[MolsonExport]

Originally Posted by jammer139

LFP article on bad news for Cami in Ingersoll.

Things are likely going to get worse in 2026 for this plant.



https://lfpress.com/news/local-news/unio...t-workforce-cuts-deepen?itm_source=index

[jammer139]

London continues to do well as a Tech market. Certainly an area economic development should encourage.

https://www.cbc.ca/news/canada/london/wh...-tech-markets-in-north-america-1.7631708

[haljackey]

Originally Posted by jammer139

London continues to do well as a Tech market. Certainly an area economic development should encourage.

https://www.cbc.ca/news/canada/london/wh...-tech-markets-in-north-america-1.7631708

Perhaps we shouldn't?

In the coming years, AI is going to replace many entry level tech jobs. It's already starting to affect some fields and is likely only going to get worse. Eventually it might come for more intermediate roles too. (I am in this sector and am quite aware of these developments)

[jammer139]

CAMI battery plant will stay closed.


Apparently there was some talk between GM and Hyundai on working together on an EV van at the CAMI facility. Been quiet since you know who came into office thou.


https://lfpress.com/news/local-news/cami...olitical-pressure-union?itm_source=index

[MolsonExport]

[jammer139]

Mass timber maker opens up new expanded factory in St Thomas.

Mass timber manufacturer Element5 has more than doubled the size of St. Thomas plant and plans to add 150 employees as demand grows for wood panels, beams and columns used to build modular homes.

https://lfpress.com/news/local-news/area...nsion-will-add-150-jobs?itm_source=index

[jammer139]

Stripping Canada of jobs is their strategy.

https://lfpress.com/business/local-busin...turers-feel-pull-of-u-s?itm_source=index

[MolsonExport]

[jammer139]

RBC Place Convention Centre taking over Hilton Ballroom in order to offer more space for what they expect to be a great year.

https://lfpress.com/news/local-news/rbc-...-record-economic-impact?itm_source=index

[jammer139]

Definitely good to see this sort of thing as building on this sector will only help London's economy.

https://lfpress.com/news/local-news/grow...move-in-person-meet-ups?itm_source=index

[jammer139]

Glimmer of hope on office vacancy rate? At least the article identifies the most likely reason which is office to residential conversions which the downtown has seen a couple of in the last year.

https://lfpress.com/news/local-news/new-...-londons-office-vacancy?itm_source=index

[jammer139]

The new pasta factory is opening. Wonder if they will have a factory retail store?

https://www.ctvnews.ca/london/article/lo...ocal-jobs-and-food-manufacturing-sector/

[jammer139]

GM ending Brightdrop at CAMI. Sad day for Ingersoll and region.

What comes next?

https://www.ctvnews.ca/canada/article/gm-ending-brightdrop-production-in-ingersoll-ont/

https://www.ctvnews.ca/london/article/gm-ending-brightdrop-production-in-ingersoll/

[Djeffery]

Sad news, like many, I know lots of people working there. I would guess it will be until after Trump before they announce this plant will close. They will leave the workers on layoff until then because in the contract they got after they had that long strike several years ago, they got a pretty rich plant closure agreement (would cost them almost half a billion dollars to pay out the workforce from what one friend told me). I don't see GM bringing in a new model there under Trump's constant tariff threat. I do think a lot of the economic impact in the region from this plant has already been absorbed though. It's been what, 4 years or close to it since the Equinox stopped and a lot of parts plants in the area have already closed or downsized due to the lesser amount of parts the Brightdrop had compared to the SUV.

[jammer139]

Update on CAMI with likelihood of finding new product considered low.

The world wide automotive production capacity far exceeds the world wide sales. Many companies have excess capacity in their facilities and that is likely not going to change anytime soon. Expect to see more plants shuddered as product lines get dropped and/or moved around to maximize plant utilization.

https://lfpress.com/news/local-news/cami...ork-amid-canada-u-s-trade-turmoil-expert

[jammer139]

GD has offered to help with the armoured vehicle contract.

https://lfpress.com/business/local-busin...fter-cancelled-ukraine-armour-deal-union

[jammer139]

Great run for them.

One of the core's longest-surviving independent businesses, Colour by Schubert is winding down as its owners retire.

https://lfpress.com/news/local-news/shut...-photofinisher-closing-after-43-year-run

[Djeffery]

Tony's Pizza has immediately closed their location at Wonderland and Beaverbrook, citing the new lease effectively doubling their rent, according to a post on their Facebook page. Their other 2 locations remain open as usual and no word yet on whether they will open another NW London location.

[MolsonExport]

I wonder why rent would be going up so drastically in that plaza? There is no movement on that proposed skyscraper that was supposed to rise in the place of the former Swiss Chalet.

[jammer139]

Yupe York has so many zoning application proposals around the city that its unlikely this site will happen until next decade. They will be wrapping up their 17s up at Fanshawe and Wonderland in the coming weeks from a concrete forming perspective and that crew is most likely heading to Southdale and Bostwick for the two buildings they have already started excavating the underground levels for.

Originally Posted by MolsonExport

I wonder why rent would be going up so drastically in that plaza? There is no movement on that proposed skyscraper that was supposed to rise in the place of the former Swiss Chalet.