The Great Mosaic: Reviving Ontario's Regional Economies
The OCC’s report, The Great Mosaic: Reviving Ontario’s Regional Economies, outlines how government of all levels can work with industry to unleash the potential of Ontario’s regional economies and reinforce the competitiveness of the province as a whole.
The OCC’s report makes 17 recommendations to strengthen the well-being of Ontario’s regions. Key takeaways include:
- The most cost-effective way to drive economic development is to cultivate talent, trade, and infrastructure. Governments should make it a priority to upgrade transportation and energy networks, modernize their regulations and business supports, offer dynamic education and training opportunities, and encourage labour mobility.
- Building regional capacity for innovation is fundamental to productivity and growth. This means improving commercialization and technology adoption, strengthening regional innovation centres, expanding broadband internet access, and facilitating cluster development.
- Modern governance of economic development should empower a wide range of stakeholders including businesses, post-secondary institutions, and not-for-profit organizations outside government. Regional collaboration, economic reconciliation with Indigenous peoples, and the use of data are all critical to mobilizing local assets.