Economic Development Advisory Committee

Committee Minutes

-
Electronic Meeting
Present:
  • Councillor D. Schnider, Member
  • Councillor A. Owodunni, Member
  • Margaret Johnston
  • Chuck Howitt, Chair
  • M. Lam, Member
  • M. Krushack, Member
  • J. Curto, Member
  • M. Bingeman, Member
  • A. Akbar, Member
Staff:
  • Cory Bluhm
  • Brian Bennett
  • N. Nandakumar, Committee Administrator
  • Robert Both
  • Matthew Wong
  • Aura Hertzog
  • Lidia Feraco
  • Jennifer Sandoval Penilla

1.
Commencement

 

A virtual meeting of the Economic Development Advisory Committee was held at 11:01 a.m. on March 26, 2025. Chaired by Joe Curto.

2.
Disclosure of Pecuniary Interest and the General Nature Thereof

 

None

3.
Delegations

 

None

4.
Discussion Items

 

4.1
Standing Item - Tariffs, Business Outreach and Support Local Initiatives

40 m
 

R. Both and M. Wong gave a presentation on the topic. Here are the main takeaways from the discussion:

  • 25% tariffs imposed on Steel and Aluminum effective Mar 13, 2025, previously tariffed at 10%
  • Blanket 25% tariffs on all goods non-compliant with USMCA (United States-Mexico-Canada Agreement)
  • April 2nd - Tariffs to be expected targeting vehicles, pharmaceutical products, semi conductors, lumber and copper. 
  • Motor vehicles and parts will be most effected industry in Ontario. 
  • Tariffs were imposed under two different statutes :
    • IEEPA (US Emergency Powers Act) 
    • National Security Considerations
  • Late May and earlier June 2025 - Canadian budget and economic data will be available regarding the impact of tariffs.
  • Approximately 75% of Canada's exports are directed to the United States. 
  • Canada is shifting towards becoming a service based economy with goods producing jobs accounting for 1 in 3 jobs across Kitchener Waterloo in 2025 up from 1 in 4 jobs in 2024. 
  • Canada has a 100 billion Dollars (US Dollars) surplus in energy products
  • Exports as a share of GDP have continued to come down. 
  • Industry share of total exports :
    • Motor vehicles - between 15-20%
    • Metal Products  10%
  • Canadian supply chains are heavily depended on US imports.
  • Approximately $160 billion worth of motor vehicle parts and transportation equipment is imported by Canada, and the United States accounts for 56% of these imports.
  • Canada also relies heavily on imports of chemicals, plastics, and industrial machinery from the United States
  • Kitchener - Waterloo labour market is more exposed to threats due to its dependence on the manufacturing sector compared to other regions
  • Manufacturing accounts for approx. 9% of total employment activity across Canada and at 15% in the Kitchener Waterloo region. (nearly 60,000 manufacturing jobs in  the region)
  • The study put out by a group facilitated with Canadian Chamber of Commerce indicated that Kitchener was the fourth highest city venerable to the US Tariffs. 
  • Counter tariffs are in place for about 60% ($30bn) Canadian exports to the US and another $95bn scheduled for April 2nd pending US actions. 
  • Bank of Canada conducts surveys on inflation expectations and in the most recent survey suggests possibility of a short term consumer inflation expectation. 
  • Possibility of Bank to cut rates another three times reaching to 2% in Q3. 
  •  

 

 

 

 

 

 

 

4.2
Update on Bramm Yards

10 m
 

B. Bennett provided a briefing on the updates available. 

  • The project is moving forward with an Environmental Site Assessment in two phases to examine and understand the quality of soil and groundwater.
  • Phase 1 - Environmental Site Assessment (ESA)
  • Phase 2 - ESA and Geotechnical & Archaeological Investigation
  • The City is inviting proposals for consultants to undertake the assessments and it is planned to select and identify a consultant by year-end 2026.
  • It is expected that the study findings will be valid for a period of 8 to 10 years. 

5.
Adjournment

 

On motion, this meeting adjourned at 12.06 p.m.

 

Navitha Nandakumar
Committee Administrator

No Item Selected