Hamilton Chamber of Commerce Releases Hamilton Economic Report

· by b.caramento@hamiltonchamber.ca

Hamilton, ON: May 7, 2019 – Based on the results of their Business Confidence Survey, conducted in conjunction with the Ontario Chamber of Commerce, the Hamilton Chamber of Commerce published its Hamilton Economic Report, which presents a candid look at local private sector sentiment.

The purpose of the 2019 HER is to capture the mood of Hamilton businesses, particularly as it relates to the provincial economy.

“Overwhelming evidence suggests Hamilton businesses have a high degree of confidence in the future. Firms project increases in both revenue and workforce size in the months ahead.”, explains Keanin Loomis, President and CEO, “However, with 1 in 4 businesses unsatisfied with the ability of existing public transportation infrastructure to meet their organizational needs, we clearly need to do better.

The highlights from this year’s HER include:

  1. Hamilton firms have overwhelming confidence in the future. Firms project increases in both revenue and workforce size in the months ahead.
  2. There is a notable ‘confidence gap’ between how businesses view the economic outlook of their own organizations versus that of the province. Over half of respondents cite the high cost of living (56%) as one of the primary reasons for their lack of confidence in Ontario’s future.
  3. Hamilton businesses are not satisfied with existing public transportation infrastructure; 1 in 4 respondents rated existing public transportation infrastructure “poor”, in terms of its ability to meet their organizational needs

With this report, the Hamilton Chamber looks forward to working with representatives at all levels of government in the year ahead to ensure we capitalize on opportunities to drive economic growth for businesses across the city.

To read the full report please click here.

–30–

Media contact: Marie Nash, Director of Communications and Strategic Initiatives

Hamilton Chamber of Commerce – 905.522.1151 ext. 245 – m.nash@hamiltonchamber.ca