Economics, business and related topics

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Innovative online lending aimed at helping local businesses, says county director

Northumberland County Economic Development Director Dan Borowec explains new lending opportunities for local businesses via an innovative online program called Lending Loop. He also discusses several new initiatives and describes the health of the local economy in the face of closures at Westons and Saputo. Please listen to this podcast. Originally aired: Feb. 28, 2020 Continue Reading →

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Voter’s guide to elections economics courtesy of Jim Stanford

Economist Jim Stanford provides economic basics for voters during Consider This Live, part of the Drive Time with Dave Glover on Northumberland 89.7 FM. Jim Stanford is a Canadian economist and founder of the Progressive Economics Forum. He holds a master’s degree in economics from Cambridge University and a doctoratefrom the New School for Social Research. He is author of a column for the Canadian newspaper The Globe and Mail and a regular panelist on CBC. Continue Reading →

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Local labour and companies used to build Cobourg Community Centre

Thank God for the BurdReport, written by local activist and former politician Ben Burd. In his wonderful way, he stayed on top of this issue like a Hound Dog on a scent. The federal and provincial government touted these infrastructure programs as being important to economic stimulus, yet there is always a question of where the dollars get spent. So, here is a list of the local companies and unions who benefitted from the contracts to build the new Cobourg Community Centre:
Blake Construction – Excavation, trucking, gravel supply, machine work, etc. Kelly’s Excavating- hauling,materials
Carpenters local # 397 – Carpenters for foundations work (2 workers)
Labour local  # 183 – Labour for foundations work (2-3 workers)
Labour local  # 183 – Labour for steel work (4 workers)
Labour local  # 183 – Labour for excavation & site services work (2 workers)
Lafarge Concrete
LUSI – Temporary hookups
Rent-all Services
Rona Building Supplies
Culligan water supply
L.A. Signs
Lakeland Group – misc. Continue Reading →

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Local industry should pay living wages if economy to survive

Bukkavor Foods Canada received much fanfare recently when it was given $1.3 million by Northumberland MPP Lou Rinaldi from the Rural Economic Development Fund and the Eastern Ontario Development Fund. With 15 employees and promises of up to 50 jobs by Christmas, this is music to many ears. With the recent announcement by Transcom International that it was cutting 65 to 85 full-time people, the Bukkavor story is good news. (more…) Continue Reading →

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Impact study pays in a big way for Cobourg

By Robert Washburn

An inexpensive tourism study about the Sandcastle Festival is paying big dividends in Cobourg, the tourism events coordinator said Thursday. Lara Scott said she was able to do an economic impact study for $1,000 through the Festival and Events Ontario non-profit organization, which normally would cost between $10,000 to $20,000. She presented the findings of the survey to council Monday night. Through the festival organization, she joined with 48 other tourism groups to have a study done last year by Toronto-based Enigma Research.  It found the event brought in about 7,000 people, of which 5,110 people were from out of town. Continue Reading →

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Coffee culture continues to grow

As Tim Hortons’ corporate offices announced it was closing 36 stores and 18 kiosks in New England, a new shop opened in Cobourg on Elgin Street. This brings the total number of Tim Hortons shops to three in a town of nearly 18,000 people. It is hard to believe the new one opened up just by looking at the long lines still frequenting the two older stores on William and Division streets. (more…) Continue Reading →

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Candidates need a budget plan and stick to it

The legacy of provincial and federal downloading of costs on to local municipalities was brought back into the spotlight recently as Port Hope council debated acquisition of its harbour. Resident/developer John Floyd and Deputy Mayor Jeff Lees complained about the long-term costs of taking over the town’s harbour, saying there are cost of repair and upgrading, leaving taxpayers on the hook for many years to come. Meanwhile, the federal government has been waiting for more than a decade for the town to take over full responsibility after it decided this was no longer the federal government’s job. A deal was reached in 2008 where the town paid out $300,000 and made a commitment to dredge. But with plans going forward for the East Marina project with 250 slips as part of the Waterfront Master Plan, the town is committed to spending about half-a-million dollars from its reserves to get underway. Continue Reading →

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Pharmacies need to innovate, not complain

With drug costs representing the second biggest reason Ontario faces out of control health costs, the move by Premier Dalton McGuinty to tame these expenses seems prudent in the face of record budget deficits. However, the reaction by pharmacy owners is a malicious, spiteful attempt to use ordinary people as pawns in a political battle driven by greed. When Shoppers Drug Mart posted record profits of $585 million in the past year, during the most severe economic downturn since the Great Depression, it gets a bit hard to shed a tear for them or any other major drug retailer. The Liberal government’s plan to cut generic drug reimbursements in half to 25 per cent of their price from 50 per cent will make a huge difference to consumers and save nearly a half billion dollars for taxpayers. (more…) Continue Reading →

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