WALLACEBURG – A $7.3 million Ontario government grant to construct a new power plant for the hospital here sends a strong signal the healthcare facility will remain open for many years to come.
Investment
$7.3M investment signals long future for Wallaceburg hospital – Chatham Daily News
WALLACEBURG – A $7.3-million Ontario government grant to build a new power plant for the hospital here sends a strong signal the health-care facility will remain open for many years to come.
“This is an investment in not only the care and delivery and services here today, it’s an investment in the future, because this does provide a substantial backbone for a further redevelopment of this site in the future,” said Lori Marshall, president and CEO of the Chatham-Kent Health Alliance following the funding announcement Friday.
Monte McNaughton, minister of labour, training and skills development, who made the funding announcement on behalf of Health Minister Christine Elliott, also indicated more money is coming.
“This will be the first stage of a redevelopment plan,” he said, adding there are plans to move the emergency room and diagnostic imaging to a new location on the north side of the hospital.
Marshall said building a new power plant, estimated to take a year to complete, is a commitment to future expansion.
“If we were just looking at sustaining the current building, we would not have needed the level of infrastructure that is going into this power plant,” she said.
“What the power plant actually does is gives us the level of infrastructure to truly support a new build, new code requirements all those kinds of things.”
Marshall said $7.3 million covers the cost of building the new power plant, along with the 10 per cent local requirement the hospital group had in reserve, so no fundraising will be needed.
She said plans have already been submitted for consideration to the Health Ministry for redeveloping the emergency room, diagnostic imaging and laboratory areas.
However, Marshall noted there is no firm timeline for when this expansion could happen.
Other future plans for upgrading the hospital include expanding ambulatory care, including specialty clinics, along with respiratory therapy, physiotherapy and laboratory services.
Walpole Island Chief Charles Sampson said the First Nations community has a long history with the hospital, noting many people from Walpole Island have worked there.
“The people of Walpole Island are very thankful of the tireless efforts from all the front-line, essential health-care workers in Chatham-Kent,” he added.
McNaughton noted the importance of local health care has only been amplified by the COVID-19 pandemic.
While fighting COVID-19 remains a priority, the MPP for Lambton-Kent-Middlesex said the provincial government intends “to invest in things that matter to people in Southwestern Ontario and beyond.”
When built in the 1950s at a cost of approximately $900,000, the Wallaceburg hospital “became a jewel of the community,” Greg Aarssen, the hospital board’s chair, said.
He added renewed focus on the site has seen reinvestment in the emergency department, additional respiratory therapy coverage, capital equipment upgrades and the addition of specialty clinics, as well as a partnership to provide community care nursing clinics.
“All of these set the stage for the reinvestment we are seeing from the Ontario government to ensure that hospital services remain an important part of this community,” Aarssen said.
However, it wasn’t that many years ago the community was fighting to keep the emergency department open and halt plans to have the site become an urgent care centre.
Wallaceburg Coun. Carmen McGregor said her first term on council included walking into a community effort by the citizen group, Save Our Sydenham, to fight to keep the hospital open.
“It was quite an initiation as a councillor to come into,” she said.
McGregor credited being able to work with former Wallaceburg councillor Jeff Wesley and the determination of the community to now see this “great news” for the future.
Noting she and fellow Wallaceburg Coun. Aaron Hall are working on initiatives to revitalize the downtown core, McGregor said, the hospital announcement “solidifies the direction we want to move in and will now encourage people to relocate to our community.”
Hall said Wallaceburg residents not only donated to build the hospital, but the whole community rallied for years to ensure it stayed open and viable.
He said the province isn’t going to invest more than $7 million if the hospital isn’t here to stay.
“It’s great news for Wallaceburg, great news for the future of the hospital,” Hall said.
Investment
Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company
NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.
Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.
“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”
Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.
Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.
Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.
Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.
In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.
The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.
And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.
Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.
The stock is now showing a 16.1% gain for the year after rising the past two days.
The Canadian Press. All rights reserved.
Investment
S&P/TSX composite up more than 100 points, U.S. stock markets mixed
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
Economy
S&P/TSX up more than 200 points, U.S. markets also higher
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
-
News21 hours ago
Freeland says she’s ready to deal with Trump |
-
News21 hours ago
NASA astronauts won’t say which one of them got sick after almost eight months in space
-
News21 hours ago
43 monkeys remain on the run from South Carolina lab. CEO thinks they’re having an adventure
-
News22 hours ago
Freeland rallies a united front ahead of Trump’s return to White House
-
News22 hours ago
Deputy minister appointed interim CEO of AIMCo after Alberta government fires board
-
News22 hours ago
Montreal says Quebec-Canada dispute stalling much-needed funding to help homeless
-
News22 hours ago
S&P/TSX composite index down Friday, Wall St. extends post-election gains
-
News21 hours ago
Mitch Marner powers Matthews-less Maple Leafs over Red Wings