The first quarterly report for the 2023 fiscal year has been released from Invest WindsorEssex and shows a promising year ahead.
This report highlights business development accomplishments by Invest WindsorEssex from January to March 2023 and provides an overview of regional economic development interactions.
These interactions include areas such as outreach, consultation, trade shows, performance metrics, entrepreneurship, marketing and international outreach.
2022 was a record-breaking year for new business investments in the Windsor-Essex region, and Invest WindsorEssex’s investment attraction pipeline of leads currently stands at over $2.5-billion and includes over 2,000 potential new jobs.
With investments such as Convoy Technologies selecting Windsor-Essex for their Canadian headquarters, Magna International investing $6-million in the Windsor mechatronics plant and adding over 100 new jobs, among other supply chain business developments, the President and CEO of Invest WindsorEssex is pleased with the additions to Windsor so far this year.
Stephen MacKenzie, President and CEO of Invest WindsorEssex, says it’s been a very successful first quarter, especially with the work being done at the NextStar battery plant.
“The major investment activity that we’re experiencing and the prospects are related to the supply chain for the battery company, and the other battery companies in the U.S. and the second one in Canada. So, very active in that industry space. But we’ve had a couple of interesting inquiries in other industries including agriculture, transportation.”
He says it’s nice to see existing companies, like Magna, expand in the region.
“It’s really important that you create the environment and that existing companies have the opportunity to embrace the industry trends and get this investment. So, a multi-national organization like Magna can put that new product anywhere on the globe, and they chose Windsor-Essex.”
He says he’s expecting a busy and successful year.
“Our Business Retention and Expansion team, our Automobility and Innovation Centre, our Small Business team, numbers are up. Numbers are up of consultations, of assistance, of advance people. We’re really seeing things pick up and you know following all that COVID time, it’s busy, but it’s very welcome.”
MacKenzie adds that with the NextStar battery plant construction underway, and the supply chain companies that are and will be setting up operations in the region, there will be thousands of additional jobs created over the next few years.
He adds that the rest of 2023 will be busy, but will also see new additions to the region.