The Economic Development Corporation in Timmins says the city’s economic climate is positive. Fred Gibbons says the gross domestic product in the city has been growing by an average of 3.7% a year since 2010. Gibbons says nationally and elsewhere in the province other cities are not performing this well.
Mining has cooled off a bit but Gibbons is forecasting 2.4 percent growth and adds that’s good for the region. Housing prices in Timmins have also risen steadily and the average home now goes for just more than $196, 000.
On the negative side, job growth was down a bit last year and the number of people collecting Ontario Works Benefits rose.