Economic Summit

by Darrin DeRoches May 19 - 25, 2011

This year’s economic summit spewed a lot of success stories or was it just the same projects from last year, rehashed? The biggest topics of success in this year’s economic summit was McMaster Innovation Park, Treble Hall and two animation companies moving from Toronto to Hamilton. I think it is great that MIP is up and running but let’s realize it's just the beginning and the real work that needs to be done is filling in the rest of the park.  They filled one building with innovative companies, built a government funded building — now what? McMaster is one of the biggest economic forces in our city and they should be “knocking it out of the park” with development and announcements. It has started but I do not want to see the big field of dirt sitting there for years to come.     Treble Hall was the darling of the summit.  It is great that someone has bought a building that is in dire need of restoration. I am not knocking them at all but they have the plans in place and it looks good but I think we should have been applauding guys like Jamie Kara who completed the Film Work Lofts and is looking to do more in our city. He “knocked it out of the park” and will again if the right project is there.  I would also applaud the development on Wellington where a self–made man is risking his money on a 10 unit condo building.  They are close to completion and deserve the recognition.      My point is that these “summits” are a great place to talk about all the government projects from MIP to Mohawk College.  Everyone is self-promoting how they are doing their job and bringing development to our city.  I applaud you doing your job but I believe another economic summit should be held to present the “Oscars” for the hard working, risking it all, developers or companies that are putting their money and hard work in to Hamilton, to make it grow.  It is great two companies are moving from Toronto to Hamilton – love it – but they are only doing it because of grants in place by the government to make this happen. I hope this is just the beginning of a wave of companies leaving the GTA and landing in our great city.     As a real estate broker in Hamilton I am receiving more and more inquiries from outside the city.  I have several student homes for sale by McMaster and I would say only two out of ten inquiries are from agents in the city.  Mississauga, Milton, Oakville and Toronto agents are all calling and are excited to show the properties to investors from the GTA.  Hamilton is moving in the right direction but let’s not overlook those who are “risking it all” to make the city great!  V