519 businesses unite

STRATFORD, Ont. — Business leaders and government officials in Ontario’s Southwestern corner are looking to join forces by creating an economic powerhouse that rivals the GTA and other markets globally.

Fierce competition from both neighboring jurisdictions and worldwide markets are forcing more consolidation and cooperation among rival regional businesses, stakeholders acknowledged yesterday at the first-ever Southwest Economic Assembly in Stratford, Ont.

According to the London Free Press, the assembly was attended by Mayors of major centres in Windsor, Sarnia, London, as well as Owen Sound in the north and Kitchener, Waterloo and Cambridge in the east. Leaders from the private sector, financial institutions, as well as academics from the regional universities of Western Ontario, Windsor, and Waterloo were also present.

“We have to put progress ahead of politics. That’s what our constituents, our economies depend on,” said Windsor Mayor Eddie Francis, who offered to hold a follow-up meeting this summer.

The goal is to create a lobbying association of business owners and local politicians that can gain some leverage at Queen’s Park and Ottawa. Officials at the summit said regions such as Niagara and the GTA have strong lobbying groups already.

Scotiabank chief economist Warren Jestin told the assembly the surging economies of nations such as China are changing the world economy and threatening North America’s traditional manufacturing base– especially in auto manufacturing.

Southwestern Ontario — which houses most of Ontario’s largest truckload carriers — has been feeling the effects of the slumping North American auto sector. However, major recent investments in the province by Japanese carmakers like Honda and Toyota have kept the sector and related industries balanced for the last couple years.

The soaring Canadian dollar, delays at major southern Ontario border crossings, and skyrocketing energy costs will continue to put pressure on exporting manufacturers in the region, Jestin said.

— with files from the London Free Press