Windsor forecast to lead nation in economic growth rate
Mega-projects like the construction of the Gordie Howe International Bridge, shown Feb. 24, 2023, has forecasters predicting the Windsor area will see one of Canada's fastest paces of economic growth over the next year. PHOTO BY DAX MELMER /Windsor Star
The Windsor area’s economy is forecast to expand at nearly twice the national rate in 2023 — more than any of the 24 major Canadian cities included in a study by the Conference Board of Canada.
“There are still economic headwinds out there, so I wouldn’t say Windsor is insulated.
“It’s shielded from some of the adverse effects that are going on in some other parts of the economy. It’ll be a slow downturn here, if there is one at all.”
The study was compiled in January and uses data collected by Statistics Canada and the Canada Housing and Mortgage Corporation.
Strong economic growth is forecast for the Windsor area due in part to large-scale construction projects like the NextStar Energy Inc. battery plant shown under construction in Windsor on March 16, 2023. PHOTO BY DAN JANISSE /Windsor Star
“It means a lot of people are looking for work. We think Windsor is well-equipped to find the required workers it needs.
“However, with population growth, if the housing market is constrained, then there will be upward pressure on housing affordability.”