Sudbury’s diverse economic revival

The Canadian city of Sudbury may be known as being one of the nation’s timber and nickel mining centres, but it has recently shown an upturn in its economic fortunes thanks to a diversified infrastructure.

Despite an element of uncertainty remaining in some of Sudbury’s traditional businesses after the economic collapse of last decade, it seems that things are on the rise in this Ontario city.

With median house prices expected to hit $238,000 and unemployment set to drop to 7.2%, many people in Sudbury are optimistic about the city’s economic future.

Unlike neighbouring Timmins which has seen ageing infrastructure negatively affect its reliance upon mining, Sudbury has endeavoured to diversify its economic opportunities so as to successfully withstand any unexpected events.

In particular, it is by focusing on non-production and financial activities that Sudbury is thought to be enjoying an economic revival.

Whilst the whole of Ontario is still operating in a fairly risk-averse environment, there has been notable investment in technology, manufacturing and even the entertainment industry that seeks to keep Sudbury’s financial outlook looking bright.

From ambitious projects like the Northern Centre for Advanced Technology to the Downtown Village Development Centre, it’s clear that efforts are underway to improve the range of skills in Sudbury’s workforce.

And there’s plenty of room for retail and entertainment offerings too. From the New Sudbury Centre shopping mall to the new casino development that has been outlined at the Lucky Nugget Casino blog, it seems that the city is showing plenty of determination to overcome recent economic setbacks.

Science and technology also look set to be a big part of Sudbury’s future. The Sudbury Neutrino Observatory put the city at the forefront of scientific research, and its current use as SNOLAB shows how even an old mine can be successfully reinvented as one of the deepest and cleanest laboratories in the world.

Sudbury’s artistic and cultural offerings also look to attract plenty more people to the area with two art galleries showing off the best in Canadian art, whilst the city’s theatres also ensure that Sudbury has an important part to play in the art world.

In addition to this, the much-loved Science North interactive museum continues to show off the continued influence of the mining industry in Northern Ontario to a new generation. And with one of the most exciting casinos to come to Canada due for completion in 2020, it seems that things are looking up for Sudbury.