Market study for industrial business in Quinte

A market study will get underway next year, looking at the industrial side of business in the Quinte area.

CAO Chris King told members of the Quinte Economic Development Commission on Thursday that there are going to be more chances of success for attraction of businesses to the region.

King said that’s why they do the study every five years.

King says they also look at regional, provincial, national and global trends within the business sector to figure out where businesses should focus their efforts.

 “We’ll talk to existing businesses and understand what trends they are seeing. What are challenges, opportunities. What are they seeing they would recommend. Talk to other stakeholders like Loyalist College, municipalities, and others in the community.”

The planning process is underway and King said he hopes they will  get some funding by next year to help with the study.

He mentioned a slowdown in the industry.

“I think it depends on the individual manufacturer. So some manufacturers are talking and they still have lots of up days and they’re taking advantage of that and they see more in the future.

King says he doesn’t know whether or not it’s a temporary blip. “I talk to some that say things are slowing down a little bit.”

“Is it a temporary blip or is it more of a longer term trend? But overall, you know, if you look across the manufacturing sector, it’s strong, it’s healthy, there’s lots of job opportunities still across the sector, but there’s always going to be a lifespan for businesses.”

He added, “Some are going to be growing and others may not be as successful. We have to keep an eye on the individual businesses on what’s happening.”