A new Ontario Economic Report is projecting a small rebound for the northeast region, despite its ongoing challenges.
The report says the rebound will be led by forestry, construction, transportation and accommodation sectors. It states the economic activity from those areas will help offset things like continued outmigration, staffing challenges, and rising energy rates.
Timmins Chamber of Commerce President Christine Bender says this outlook is great for Timmins. Bender says this gives businesses in Timmins some optimism that we expect a modest economic boost in 2017.
She adds that the Timmins Chamber has an opportunity to meet with the provincial government to address issues concerning the city’s local businesses including the cap and trade program and high energy rates.
The report also projects a continued decline in the unemployment rate in the region from 7.2 per cent in 2016 to 6.7 per cent this year.