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Town seeks input on Economic Resilience and Recover Strategy

July 15, 2022   ·   0 Comments

The pandemic of the past two years had caused many businesses to re-think the way they operate.

Many have seen their income greatly reduced and, for others, a worst-case scenario caused them to go completely out of business.

While the provincial and national economies have taken a hit, the effects of the pandemic hit hardest at the local level with many small businesses feeling the crunch of reduced income and a shift in the local economy.

The Town of New Tecumseth is undertaking an Economic Resilience and Recovery Strategy with the goal to further strengthen and diversify the local economy post-pandemic.

In June 2021, Statistics Canada’s Business Register showed that there were just over 3,600 revenue generating businesses within the Town of New Tecumseth, with 805 of those reporting that they have between one and nine employees.

While small business make up the majority of businesses, there are also 20 employers in the area that have over 100 people, including Honda of Canada Manufacturing, F&P Manufacturing, and the Nottawasaga Inn Resort.

In January 2018, the Town adopted the latest Economic Development Strategic Plan which has been the driving force for municipal initiatives to date. With the onset of the pandemic and domestic and international market changes, the Town decided it is time to develop a new strategy to help support local business.

The Town has retained McSweeny & Associates, an economic development firm, to assist in the development of this new strategy.

McSweeny & Associates will do a situational analysis, conduct one-on-one interviews with key stakeholders, create a business survey and hold working sessions.

The Economic Resilience and Recovery Strategy will be released in early 2023.

The Town is now seeking views and opinions through an on-line survey to provide insight into opportunities for economic growth and resiliency 

This survey is a short online questionnaire with five questions. All responses will be kept confidential.

The survey will be available to July 15.

You can view the survey by visiting the Town website.

By Brian Lockhart

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