NIAGARA REGION 10-YEAR ECONOMIC DEVELOPMENT STRATEGY

PURPOSE

The Niagara Region’s 10-Year Economic Development Strategy is a forward-looking initiative aimed at fostering a resilient, diverse, and sustainable economy. Its purpose is to guide the region’s economic growth by leveraging emerging sectors, enhancing diversity, equity, and inclusion, bolstering education and workforce support, retaining and expanding businesses, promoting green development and sustainability, and improving infrastructure and transportation. Over the next decade, the Strategy aims to attract investment, create jobs, and position Niagara as a hub for innovative businesses while addressing pressing challenges like labor force participation, housing, broadband coverage, and supply chain disruptions.

EFFECTIVENESS & OBJECTIVES

The Strategy aligns with Niagara Regional Council’s strategic priorities, specifically supporting businesses and economic growth. It was collaboratively developed by the Strategy Advisory Council, including representatives from Regional Economic Development, municipal economic development offices, and key stakeholders. The Strategy has been integrated with the Regional Official Plan, Transportation Master Plan, and local area municipal economic development strategies, ensuring synergy with broader planning efforts.

CHALLENGES & CHANGES

The Strategy acknowledges the unique challenges posed by the post-pandemic economic landscape, such as digitization, e-commerce, and workforce issues. It is designed to be a dynamic document, allowing for updates and adjustments to address evolving challenges and opportunities. Given the uncertainty surrounding economic data in the wake of the pandemic, the Strategy will be reviewed within the next two years to ensure its continued relevance and effectiveness.

TARGET AUDIENCE

The Strategy primarily targets businesses, investors, community stakeholders, and policymakers in the Niagara region. It also aims to attract international entrepreneurs, diverse industries, and individuals looking for a vibrant and inclusive environment to live and work.

RECOVERY

Niagara’s 10-year Economic Development Strategy is the cornerstone of the community’s rebound. This visionary plan, aligned with Regional Council’s Strategic Priorities, charts a course for a thriving, sustainable economy, illuminating the path forward for Niagara.

SUSTAINABILITY

Our Strategy embodies holistic sustainability by integrating environmental, social, and economic considerations. It champions sustainable practices, emphasizing green development and responsible resource management. Furthermore, it promotes diversity, equity, and inclusion, recognizing their vital role in a prosperous and resilient community. Our vision seeks not just economic prosperity but a brighter future for Niagara, mindful of our global and local impact.

CONCLUSION

Niagara Region’s 10-Year Economic Development Strategy embodies forward-thinking principles, embracing collaboration, sustainability, and adaptability. It aims to enhance Niagara’s prosperity while addressing current challenges and seizing unique opportunities. This Strategy fosters innovation, inclusivity, and resilience, strengthening our united Niagara community.

ATTACHMENTS:

Download link: https://we.tl/t-qFd32Zet8r