• Niagara’s Manufacturing Sector Moving Forward

    Niagara Manufacturing SectorThe manufacturing sector in Niagara comprises 14% of the region’s total GDP. Recent data suggests that nearly 984 companies exist in this sector, employing over 21,200 residents. Moving forward, industry experts expect these numbers to climb further as the industry expands and diversifies. A survey published earlier this week forecasts the following developments over the course of the next three years:

    • 1/3 of respondents believe that an overall increase of 10% lies ahead for the manufacturing sector
    • 2/3 of respondents expect to find improved profits and investments in the New Year. Of such investments, experts believe facilities may find 44% more funding, which would assist in building up the workforce by 43%
    • Research and development investments are expected to increase by 36%
    • Responses suggest a growth isolated in Niagara rather than national or provincial
    • 3/4 businesses from the survey introduced new products or services in the past five years, indicating a possible expansion in coming three years

    As outlined in Niagara’s economic growth strategy, over the two years the government will push to develop green energy manufacturing, local power generation and transmission infrastructure, as well as increased support for the Niagara’s Industrial Association, Innovation College, Niagara College, and Brock University.

    Categories: Niagara Development

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