Oshawa looking to “innovative” future with ten-year economic development plan

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Published January 22, 2024 at 6:27 pm

Oshawa over the next ten years

Oshawa has launched a strategy that aims to drive job growth and economic investment and guide decision-making in the city over the next decade.

The new Economic Development Strategy will focus on enhanced trade, diversification and quality of life and Oshawa Mayor Dan Carter hopes it will help position Oshawa for future economies, opportunities and overall growth.

“One thing that was made abundantly clear throughout the process of evaluating our economy was how fortunate our community is to have such an abundance of high quality assets to support future economic growth,” Carter said. “There are very few cities in Canada of our size that are home to a deep sea port, executive airport, rail infrastructure, research assets and a pipeline of 30,000 post-secondary students on the doorstep of one the greatest concentrations of economic activity in North America.”

“We are part of a broader region that is globally renowned for driving new investment and growth. Oshawa’s new Economic Development Strategy positions our community to capitalize on innovative opportunities that will continue to offer prosperity to our community.”

The strategy builds on the city’s competitive strengths, such as proximity to major metropolitan centres, a robust labour force, emerging talent and key infrastructure assets such as air, sea, rail and highways, and aims to strengthen existing economic sectors in advanced manufacturing, modern technology and science driven businesses and services.

To complement existing sectors such as healthcare, education, advanced manufacturing and energy generation, emerging sectors were identified in high-growth fields such as:

  • Artificial Intelligence
  • Augmented Reality
  • Cybersecurity
  • eSports
  • EV and Automotive Technologies

“The Oshawa Economic Development Strategy duly identifies that one of our greatest assets are the talented people who are increasingly choosing to call Oshawa home,” said Councillor Tito-Dante Marimpietri, Chair of the Economic and Development Services Committee. “Oshawa is increasingly becoming a metropolitan city, resulting in … a robust pipeline of local talent and world-class research assets.”

Marimpietri said blue-chip global companies have been “taking notice” of Oshawa’s competitive advantage and “investing heavily in our community,” citing the Northwood Business Park as an example.

The transition of Oshawa’s economic landscape from its historical manufacturing foundation to a modern technology and science-driven economy will be something to watch over the next ten years, added Deputy Mayor Bob Chapman. “This new economic vision will augment advanced manufacturing, and bolster city infrastructure assets and cultural enrichment, all of which collectively position Oshawa for substantial growth over the next 10 years.”

To view the Oshawa Economic Development Strategy, visit the City of Oshawa website.

 

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