“Transformation of Thunder Bay’s Economy”
Transformation of Thunder Bay’s Economy
May, 2012
Presentation Overview
1. The Economy Pre-Recession
2. Forces that have Transformed Thunder Bay’s Economy
3. “Back to the Future” Old Economy Meets New Economy
4. Linkage to Western & Northern Canada Supply Chains
5. Waterfront Re-Development
6. Health / Medical / DNA / Information and Communications
Technology (ICT) Cluster
-1-
The Economy Pre-Recession
Countries Dealing With Dramatic Changes
Resources = Game Changer
Globe & Mail & Montreal Gazette
Recognizing an Exemplary Community Leader
Dr. Arthur V. Mauro
September 21, 2011, Thunder Bay
Born in Thunder Bay
Former CEO, Investors Group
Former Chancellor, U of M
Chancellor, Lakehead University
CEDC Strategic Plan
Thunder Bay is Creating
New Economic
Opportunities!
-2- Forces That Have Transformed Thunder Bay’s Economy
Economic Shift- Bayview Magazine, Spring 2011
Porter Airlines
Business… Following Demand
• Serving emerging markets
• (3) Flights, 2009/2010
• (5) Flights, 2011
• Service from “Bay Street” to
Thunder Bay
• Demand from Mining , Health
Sciences , Education & ICT
Thunder Bay International Airport
(Passenger Traffic Up >5% for 2011)
Thunder Bay
Building Permits (2000-2011)
-3-
“Back to the Future”
Old Economy Meets New Economy
Stampede! The Rise of the West and Canada’s
New Power Elite
“The West Starts at Wawa”
Gordon Pitts, Guest Speaker, April 30, 2010
“This is a Shift in Corporate Canada's Epicenter”
Globe and Mail, March 23, 2012
Gordon Pitts, Writer/Author, Globe and Mail
Shift in epicenter to Western Canada from the East
Becoming a vastly different Canada after 50 years
Current era is “dominated by China”
Current era is “dominated by commodities”
“Province’s Budgets get Lifeline from Resources”
Globe and Mail, March 22, 2012
Saskatchewan’s 2012-13 budget (oil & potash surplus)
Quebec’s mining sector to grow tenfold over next decade
Alberta predicting revenue “gusher” from oil sands ahead
“Mining Sector Leaves No Stone Unturned”
Globe and Mail, March 22, 2012
Companies recruiting for 100,000 new jobs in next decade
308,000 CDNs employed in mining in 2010
$8.4 billion paid in royalties to CDN governments in 2010
31% rise in value of mineral production in 2010
Source: Mining Association of Canada
The Mining Sector
Premier Gold, President Ewan Downie
Resource World Magazine – February 2009
HQ in Thunder Bay
Downey star of 2009 PDAC (TO) convention
The Mining Sector
“The Ring of Fire, PDAC, Toronto, March 2010”
Located 206 miles north of Nakina
One of Globe’s largest chromium
deposits
Critical to USA & China for steel
Back row, left to right: Mackenzie Watson, John Harvey, Richard Nemis
Front row, left to right: Neil Novak, Don Hoy
Infrastructure requires 54 bridges
to be built over 93 streams and
lakes.
Potentially (5) times the economic
impact of Sudbury Basin.
As BIG as the “Manhattan
Project”, WW II.
Anchored by chromium,
customers are USA, China, India.
Projected Economic Impact
Mining Sector in NWO (2013-2017)*
• 13 new mines
• Estimated life 7-30 years
• 671 Kilometers road construction
• 360 Kilometers rail construction
• 778 Kilometers transmission construction
• 848 Megawatts power (incl. FPF)
• 4,405 construction jobs
• 3,751 operational jobs
*Industry statistics compiled as at March 9, 2012, for CEDC
*Excludes expansion requirements of (5) existing mines
(Williams Mine, David Bell Mine, Musselwhite Mine, Red lake
Mine, Lac des Iles Mine), Excludes ROF job creation potential
-4- Linkage to Western & Northern Canada Supply Chains
Western Canada – Restore & Accelerate
Economic Linkages!
Dr. Arthur Mauro, Winnipeg Airports
Authority & CentrePort Canada Inc.
Barry Rempel, President & CEO Winnipeg
Airports Authority
Restore the historical business linkages
with Winnipeg & Western Canada!
Future is trade links with China & India
Improve linkages with CentrePort & West
Need for improved rail, road, port &
airport infrastructure
Commodity & Resource Readiness !
Thunder Bay Port Authority
2011 Cargo Statistics:
Total of 7.6 million tonnes
of shipments through port.
Grain remains major port
commodity accounting for
82% of total shipments
(approx. 6.3 million tonnes)
Coal represents 831,000
tonnes
389 vessel calls
Thunder Bay remains
largest grain port and only
potash load point on Great
Lakes
Potential from dismantling
of Canadian Wheat Board
New Infrastructure
Direct connections to rail
Largest export port on Seaway
Single customs clearance
No harbour maintenance tax
Project cargo gateway to the Oil Sands
Liebherr LHM 320 Mobile Harbour Crane
Oil sands Investment 2010-2035:
$2.1 trillion, 800,000+ new jobs
“The Outsiders”
Alberta Oil Magazine, March 2011
Serving Alberta & Saskatchewan
”When East Meets West”
Globe and Mail – March 3, 2012
• “Ontario has big part in Oil Sands work – as middleman”
• Oil Sands will generate $63 billion for Ontario companies in next 25 years
• 255 Ontario companies supply to Oil Sands
-5-
Waterfront Re-Development
“CEDC’s Vision - 2008”
Maximizing Waterfront Expenditures
Create An Education/ICT Cluster
Our “Forks Market”
1
2
3
Realizing the Vision – 2011: “Green Sprouts”
Fladgate Exploration Consulting Corporation
• In business for 4 years
• Started in 2007 with 4 employees
• Grown to 60+ geologists and
mining professionals
• Workforce from Guatemala, Chile, South
Africa, Ecuador, and Canada
Realizing the Vision - 2011: “Green Sprouts”
Mongolia Growth Group
• CFA, Chartered Financial Analyst
• Originally from Thunder Bay
• Co- founder of Mongolia Growth Group
• Chose Thunder Bay for its
affordability and educated labour
• Chose business location in James
Whalen Building because of its beauty
and history
-6-
Health / Medical / DNA /
Information and Communications Technology (ICT)
Cluster
Growing Health Sciences/Bioscience/R&D Sectors
Thunder Bay Regional
Health Sciences Centre
Emerging Health R & D Triangle
Winnipeg/Minneapolis/Thunder Bay
Growing Health Sciences/Bioscience/R&D Sectors
• Shroud of Christ, identity of Titanic
baby and unknown WWI soldier
analyzed by TBay DNA research
• Murder of Candace Derksen solved by
Mitochondrial DNA research expert,
Dr. Amarajit Chahal, Thunder Bay
• Strong cluster with SunnyBrook/MaRs
innovation • Tie into Winnipeg/ Minneapolis
Medical Alley
Tornado Medical Systems Grand Opening
James Whalen Technology Centre (May 11, 2011)
CEO, Dr. Stefan Larson
Collaboration with CEDC/TBRRI.
40 careers, scientists
Research in prostate, breast and
colorectal cancers
New Partnership Between TBRHSC and Cancer
Care Ontario (CCO) = More Jobs!
December 12, 2011
• Thunder Bay Regional Health Sciences Centre’s (TBRHSC) Cancer Program has been selected
by Cancer Care Ontario, an agency of the Ontario Government and the Government’s cancer
advisor, to host parts of its Quality Assurance Services Team in Information Technology
Development Services.
• The new partnership will mean new development and software testing opportunities in
information systems to ensure the quality of CCO solutions used within the cancer system. It
will also mean 6 new permanent jobs in Thunder Bay.
Canadian Manufacturers & Exporters – March 5, 2012
• Lakehead University & Gamma – Dynacare
Medical laboratories joining forces to build
DNA database to help law enforcement
agencies
• New company “MitoNorth” will be created,
federal governments contributing $338K of
$1.3M price tag
Hi-Tech Opportunities
New opportunities in
Medical Device
Development, Software
Development, Healthcare
Informatics and Molecular
Testing
Thank You!
For more information please contact:
Steve Demmings, CEO
Thunder Bay Community Economic Development Commission (CEDC)
P.O. Box 800
Thunder Bay, Ontario
CANADA P7C 5K4
General Office: 807 625-3960
Toll Free: 1-800-668-9360
Fax: 807 623-3962
Email: [email protected]
Website: www.ThunderBayCEDC.ca
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