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New taskforce looking to diversify Clearwater economy – Clearwater Times

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The District of Clearwater’s new task force in community economic development looks to change the town from one that relies on industry to one that is sustainable and adapts by focusing on home-based businesses and telecommunications.

Established earlier this year, the Community Economic Development Task Force (CEDTF) has been entrusted to provide the DOC council with advice and feedback on a new economic development strategy with the key aspect of being community-driven.

Councillor Shelley Sim said major factors of the task force are how a community can help foster its own growth, to find the DOC’s overall goal or ambition and to have community voices at the table.

“I think that that’s just going to strengthen that long-term goal and vision for the community,” she said.

The Canfor mill shutdown, as well as the tenure transfer, and other environmental impacts show how a town can end up relying on external forces, and when those collapse, downsize or leave, it can have major impacts on the community.

“We need to diversify our economy,” said Jeff Lamond, owner of Rooted by the River Nursery, adding that tourism alone cannot sustain a community.

The municipality, he said, not only needs to market itself as the place to be for tourists, but also for the people who decide to stay.

Growing the economy also means growing the population, and Clearwater needs to ensure it has the proper infrastructure and that it is versatile enough to establish a variety of business ventures, added Lamond — technology and remote work is one solution.

“That would be the next wave of jobs,” he said. “Ultimately, the businesses are going to be using some form of internet…Once that infrastructure is in, then you can start going after [attracting] businesses.”

Internet and mobile connectivity have long been an issue in Clearwater for many, and one project the CEDTF is committed to is to explore how the DOC can create its own utility.

A grant of $170,000 was received by the DOC under the Community Transition Recovery Strategy program to help ease the impacts from the Vavenby sawmill closure. The funds will be used to, “assist with a broadband and cellular infrastructure strategy, and capacity for implementation of the updated economic development and community transition strategy and other community economic recovery actions,” said Leslie Groulx, DOC chief administrative officer in an email to the Times.

Another project currently being done for the task force is the gathering of information from various businesses from agriculture to tourism and into forestry through a consulting firm, which was also made possible by grants received by the DOC.

“If we didn’t have that from the government, we would just have another plan,” said Sim. “But this is also going to provide some resources to implement some of the recommendations that come forward.”

Other ideas include a social media campaign to attract business owners from the lower mainland and using the community’s ability to pivot during the COVID-19 pandemic.

“I think what the task force will really address is how well our community overall has been able to pivot and make some quick adjustments,” said Sim. “You look around our town and most businesses are up and running and are responding well.

“So I think that’s a real aspect to the acumen of our business community.”

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Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

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

The Canadian Press. All rights reserved.

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Economy

Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

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

The Canadian Press. All rights reserved.

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