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Waterloo Region will be home to at least one million people by 2050 and a coalition of local business organizations is doing its part to ensure this area is prepared through the launch of an online tracking tool that aims to create a unified framework to ensure proactive planning and co-ordinated action across all levels of government and the private sector.

Developed in collaboration between BestWR (Business and Economic Support Team of Waterloo Region) and the Future Cities Institute located at the University of Waterloo, the Vision 1 Million Scorecard is now available to track Waterloo Region's readiness for the projected arrival of more than 300,000 people in the next 25 years.

The scorecard provides measurable, transparent monitoring of progress across five critical areas: housing supply, transportation infrastructure, healthcare services, employment opportunities, and placemaking and livability.  

These are all areas Cambridge Chamber of Commerce President & CEO Greg Durocher says are vital for businesses to succeed.

“Businesses should be paying attention to this because if we do not meet the needs of a million people from an infrastructure perspective, it’s going to make it difficult for them to attract people to their business,” says Greg, who serves on BestWR along with the leaders of the Greater Kitchener Waterloo Chamber, Explore Waterloo Region, Communitech, and the Waterloo Region Economic Development Corporation.  “These issues are all really important to businesses because businesses thrive best in a community that thrives best.”

Strong leadership needed

It’s a sentiment shared by BestWR Chair Ian McLean, who also is head of KW Chamber.

"We cannot afford to be reactive when it comes to preparing for one million residents,” he says. “This tool gives us the transparency and accountability we need to ensure decision-makers are taking the bold action required to build the housing, transportation networks, healthcare capacity, and community services our growing population will need."

Greg says strong leadership, especially by local municipal officials, is paramount noting the scorecard already shows the region is falling behind in terms of providing healthcare and housing to sustain one million people. 

The current data also shows the importance of having employment ready lands and now shows that only 33% of land identified as ‘shovel ready meagsite’ in Waterloo Region suitable for larger employers has been purchased.

“We know that at least 70,000 homes have to be built in the next 20 to 25 years and we’ve never built homes at that pace before,” says Greg. “We can really utilize the scorecard as an advocacy tool with local government to outline what areas we need to catch up on. And when we have people running for election, we will be in the position to question candidates on those subjects and ask them ‘What are you going to do to make sure that we are ready for all these people?’If we’re not ready, that is going to impact businesses.”

Scorecard will be updated

He refers to the forward-thinking governance of the late Jane Brewer, Cambridge’s mayor from 1988 to 2000 and a regional councillor, as an example noting she was a strong advocate for the construction of the LRT because she knew it would benefit future generations.

“That is what good leadership is all about,” says Greg.

The scorecard will be updated every six months to help prioritize the community's agenda and focus resources where they're most needed. Data validation and the evaluation of the progress to plans will be provided through an exciting collaboration with the Future Cities Institute (FCI), founded by CAIVAN.

The FCI brings together researchers to look at urban challenges across housing, climate, infrastructure to support prosperous and resilient cities. 

In the lead up to the first evaluation the FCI will be validating the current figures and ensuring tracking is being done for the right plans for more complex initiatives.  

Key features of the scorecard include:

• Critical priority tracking across housing supply, transportation infrastructure, healthcare services, employment, and community livability.
• Six-month interval updates to monitor progress and enable course corrections.
• Transparent accountability that allows residents to see real progress and understand remaining gaps.
• Community engagement opportunities for feedback and advocacy.
• A unified framework that brings together fragmented planning approaches under "one plan, one agenda.”

Visit bestwr.org to explore the full scorecard.

The high cost of living, inflation, housing affordability, and rising operational costs top the lists of concerns for Ontario businesses, according to the Ontario Chamber of Commerce’s (OCC) most recent Ontario Economic Report (OER). 

The report shows a significant rise in business confidence over the course of 2024, climbing from a historic low of 13% to 26% by year’s end. Despite this improvement, confidence remains historically low and fragile, with 48% of businesses expressing a lack of confidence in the economy. Affordability and the cost of living continue to be the most pressing concerns for businesses.

The survey, conducted between October 15 and December 2, 2024, gathered insights from 1,714 respondents representing a diverse range of industries, regions, and organizations.

The results show that when U.S. tariff threats are on the table, business confidence drops dramatically to just 15%, almost erasing the last year’s gains, according to the OCC’s separate tariff survey in early February. This recent research also shows that with tariffs in play, six in ten (60%) business decision makers would lack confidence in Ontario’s economic outlook.

“I may not use the word fragile describing the confidence level and instead use the word tempered,” says Cambridge Chamber of Commerce President and CEO Greg Durocher. “People's optimism for the future of business in the short term is tempered by the impact of Trump’s tariffs. I think most people in business realize that the impact of any decision is probably going to be short term. Whether or not tariffs are long term isn't the issue, it’s the impact of tariffs. So, after a period time, the marketplace settles down and people get used to whatever is the new reality.”

Ontario’s economic outlook varies

Confidence in Ontario’s economic outlook varies significantly across industries, with the information and cultural industries sector reporting the lowest level of optimism at just 17%.  Businesses in this sector cite high operational costs, shifting consumer behaviour, declining advertising revenues, and mounting pressures from technological disruption, global competition, and regulatory challenges as key drivers of their pessimism.

The retail (18%), non-profit (20%), utilities (21%), and accommodation and food services (22%) sectors follow closely, reflecting the impact of declining consumer spending amid heightened cost-of-living pressures.

The agriculture sector, while showing a slight improvement over last year, also remains among the least confident sectors (22%). Concerns in this sector centre on extreme weather events, trade and supply chain barriers, and growing labour gaps and succession planning challenges as a significant portion of the workforce approaches retirement.

By contrast, confidence is strongest in the mining (56%), finance and insurance (40%), and administrative and waste management services (40%) sectors. This could be explained by the strong demand for critical minerals supported by Ontario’s Critical Minerals Strategy, rising sustainability initiatives the finance sector’s ongoing resilience, and growth driven by fintech advancements. These sectors demonstrate adaptability and the ability to capitalize on emerging opportunities.

Survey respondents remain optimistic

Regionally, most of Ontario’s regions outside the GTA saw a significant reduction in confidence compared to the previous year.

Confidence is lowest in Stratford-Bruce Peninsula (19%), Northeast Ontario (21%), and the Greater Ottawa Area (21%), where in addition to concerns surrounding high costs and housing affordability, businesses are disproportionately sensitive to government policies and investments and have suffered more extreme weather events than other regions.

Confidence is highest in the Greater London Area (34%), a significant rebound from last year (9%). This resurgence is likely fueled by strong consumer demand, and domestic manufacturing capacity and supply chains, including the announcement of the Volkswagen EV battery plant in St. Thomas.

Despite the challenges, respondents report relative optimism about their own business growth prospects. Nearly half (49%) express confidence in their own future, citing factors such as strong consumer demand, innovation, and improved inflation management, something that doesn’t surprise Greg.

“I think that you'll find that there's going to be a growth and optimism because many sectors in Canada are going to strengthen as a result,” he says. “We’ve never been the ‘buy Canadian’ kind of a nation and the U.S. has always had buy American programs in place because we’ve always understood we were a player in the global market.”

He says there are initiatives created by the Provincial and Federal governments to encourage Canadian businesses to look at other, more reliable markets, rather than depending on the American market.

European Union agreement key

“Why we perceive the U.S. market to be unreliable right now is because anything that the American government does that impacts the trade with their nation is exponential in our case because 80 per cent of our GDP goes to the United States,” says Greg. “So, we're vulnerable to every whim of the U.S. government. For us to get more reliable sources, we need to diversify so we need to have relationships in the European Union.”

He notes the Canada-European Union Comprehensive Economic and Trade Agreement, which Canada signed in the fall of 2016, has been underutilized. 

“I think it stands to reason that we have not served ourselves well by not really looking seriously at the European Union for economic trade,” says Greg, noting this happened primarily because of our expectation the U.S. would always remain a reliable trading partner.

“We need to understand what the reality of this is going to be going forward and whether we do get aggressive when it comes to find other trading partners.  And if Canadians continue to buy Canadian that will really impact the U.S. exponentially because we do consume a lot of American products.”

Click here to read the report.

Report highlights: 

• Business confidence in Ontario’s economy has doubled in the past year, rising from 13% to 26%, but a majority of respondents (48%) lack confidence in the economy. 
• High costs remain the top concern for businesses, with 78% citing the cost of living, followed by inflation (62%), housing affordability (57%), and rising operational costs (51%).
• Simplifying or reducing business taxes (42%) is the most frequently cited policy solution to improve economic conditions, followed by affordable housing (32%), health system capacity (30%) and workforce development to solve labour shortages (29%).
• While businesses recognize the economic importance of technology adoption, environmental sustainability, diversity and inclusion and Indigenous reconciliation, businesses report a need for support and guidance in seizing these opportunities.
• Businesses report being ill-equipped to support workers and communities through mental health and addictions challenges. For example, while 71% of businesses recognize the importance of mental health and well-being to their success, only 41% have formal mental health strategies.
• Business leaders are confident in their ability to adapt to ongoing trade tensions between the U.S. and Canada with nearly half (48%) reporting confidence, while 32% are neutral and only 15% expressing a lack of confidence. 
• Ontario’s post-pandemic recovery faces significant headwinds, including potential U.S. tariff threats, geopolitical instability, lagging productivity, affordability challenges, and rising unemployment.

Lots of controversy over pipelines to carry oil these days. Is it safe, if we don't do pipe, what will happen? Are there better alternatives? You decide.