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Lefebvre announces new committee to help spur investment

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A new committee of Greater Sudbury city council is being set up to find the “best way of streamlining and of encouraging investment in Sudbury.”

So described Mayor Paul Lefebvre, who used Thursday’s Fireside Chat event with the Northeastern Ontario Construction Association to announce the new five-member committee.

“It’s a big exercise, but I think it’s a positive way of affecting change,” he told Sudbury.com after delivering his address at Verdicchio Ristorante, adding that his goal is for the committee to present recommended changes to municipal bylaws by the end of the year.

The committee would host five to seven meetings this year to learn from local industry leaders, with priority given to those with experience working for other municipalities.

“What is going on elsewhere?” Lefebvre asked. “How are they doing things different from what’s going on here, and why is that the case, so we have a better understanding.”

Lefebvre said that with many regulations provincially mandated, he wants the committee to narrow in on what the municipality can actually accomplish.

In concert with the committee’s work, Lefebvre said an internal team at city hall will work with their counterparts in other municipalities to dig out best practices for Greater Sudbury to adopt.

Reflecting on Lefebvre’s address, Northeastern Ontario Construction Association executive director Mark Kivinen told Sudbury.com he is “very optimistic,” and that Lefebvre has “hit the ground running” since he was elected to head city council on Oct. 24, 2022.

“He is so engaged with the community and understands what the community wants and needs, and also has the ability to not stay stagnant, to open up and don’t be just locked in your little bubble,” Kivinen said, adding that the upcoming committee should aid in this effort.

“There are other municipalities that are doing things better than us, and we are doing some things better than them,” he said. “I think we understand now that if we’re going to promote growth, we’ve got to open up the city a little more.”

Thursday night’s speech and subsequent question and answer period highlighted an ongoing concern within the local construction industry of so-called “red tape” at city hall, which Lefebvre said city council’s upcoming committee will strive to suss out.

Ward 5 Coun. Mike Parent has also addressed “red tape” in a motion greenlit by city council in February, which will see the city partner with the Greater Sudbury Chamber of Commerce to investigate ways of streamlining processes for businesses.

During his speech, Lefebvre cited recent progress on the Employment Land Strategy and a $1.25-million interim fix approved for Fielding Road, which services one of the city’s industrial hubs, as recent signs of city council support for tackling economic growth.

“We’re serious about this,” Lefebvre said, adding that the work on Fielding Road is a solid investment that will help ensure clients and those working in the area won’t have to wear a mouthguard while navigating the pothole-filled road.

Earlier this week, city council approved a public consultation plan for a new tax incentive called the Employment Land Community Improvement Plan, which Lefebvre cited as another recent move toward spurring economic activity. Sudbury.com will be publishing an in-depth report on the proposal soon.

Tapping into the value-added market when it comes to battery-electric vehicles, the city’s infrastructure deficit, its collection of aging facilities, a need for housing across the continuum, and a need for employees in a local economy in which there are approximately 3,500 unfilled jobs right now, were also hot topics during tonight’s speaking engagement.

Lefebvre said all of these issues and more will need to be dealt with to help meet his ultimate goal of increasing Greater Sudbury’s population to 200,000 within 20 years.

Tyler Clarke covers city hall and political affairs for Sudbury.com.

 

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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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.

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S&P/TSX up more than 200 points, U.S. markets also higher

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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.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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