Mining opportunities creating economic optimism in northern Ontario businesses

The president and CEO of the Ontario Chamber of Commerce says that while there is a lot of concern around the provincial economy, northern business owners are the most confident about the current opportunity and growth.

Daniel Tisch, Ontario Chamber of Commerce president and CEO. Oct. 24, 2024 (Ian Campbell/CTV Northern Ontario)

Sudbury's business elite packed the Bryston's on the Park banquet hall in Copper Cliff on Thursday night for the local chamber's annual general meeting.

Under new leadership, Trevor Lalonde from Fisher Wavy was elected the chair in July. He replaced Geoff Hatton of The Spectrum Group.

The keynote speaker of the night was Daniel Tisch, the provincial chamber president and CEO.

Tisch said his group's research has found that confidence in the province's economy, especially small businesses, has never been lower than it is now.

"So, obviously, we need to look at what can we do to ensure that we've got strong economies, not just across the province, but that prosperity is inclusive and sustainable and includes all regions," he said.

"We're working with local business leaders to help look at solutions to make their businesses smarter, more successful and more productive, lower their risk, increase their reward."

Despite the exit of some major employers in the north -- like Domtar in Espanola and GM in Kapuskasing – there is a lot of optimism from businesses in the region.

"I think a big part of that is because of the opportunities that we see now with Ontario undergoing a bit of a manufacturing renaissance, there is the opportunity to look at how we can develop the mining industry in a way that's sustainable and you know creates in a renewed prosperity for some of these communities," Tisch said.

"I think the opportunity is to work on infrastructure, … looking at policy, looking at regulation, … do we have the right energy grid … to serve … communities here and to serve businesses here?"

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He also said having a diversified economy is going to be key to success over the coming years.

"There seems to be a lot of incredible things happening and you look at even participation in this event tonight and the diversity of businesses involved in the chamber, that's supremely exciting," Tisch said.

" Having said that, I think mining continues to be a sector with incredible opportunity here in Ontario and well beyond Ontario, right?"

The provincial chamber is looking to make recommendations to the Ontario government in five core areas – energy, infrastructure, labour, health care and new mining initiatives -- to strengthen local economies.

"We need to look at all of this together and the biggest thing that I hear about is do we have the talent," Tisch said.

"Do we have the partnerships with local universities and colleges to ensure that that pipeline of talent that is here stays here and contributes to the economy for the long term?"

The Sudbury chamber is currently looking for nominations for its annual local business excellence awards.

Nominations for the following awards are being accepted until Oct. 31:

• Best non-profit/charity
• Small enterprise
• Innovation
• Young entrepreneur of the year
• Entrepreneur of the year
• Company of the year
• Executive of the year