Windsor-Essex Is 2nd In Canada In Economic Growth
It's great news for our local economy.
The Conference Board of Canada's Economic Outlook puts Windsor-Essex in the #2 spot out of 14 major centres in Canada for economic growth.
The Board finds Windsor-Essex is just behind Toronto for the fastest growing economy in 2017. In fact, Windsor-Essex is experiencing the strongest job growth in 16 years.
Alan Arcand is the associate director of the Centre for Municipal Studies with the Conference Board. In Windsor today, he says there are good things happening here right now:
"The $3-billion investment in the minivan plant — the Pacifica, a lot of activity in parts makers, ford will invest in engines, lots of good news in manufacturing and in construction — not just housing but in government infrastructure side," says Arcand. "People can see what's happening in the housing market in Windsor — employment is another side people are experiencing. A lot of job gains especially last year, more people are out at the stores and shopping malls, people are feeling good."
Arcand says this is the good year; however, the outlook for 2018 puts Windsor a few more notches down the chart.
"Saless in US of cars and trucks are at a level we saw before recession. They're back where they should be. The double digit growth we've seen is not going to happen anymore, more of a flat reading, you'll see good times and growth in manufacturing but not same rate you saw previously."
Arcand says the peak year for the Windsor-Essex economy was 2000 and it's now getting back to that level.