City Hall, in collaboration with two London-based economic development groups, unveiled strategic initiatives to fortify the local economy in response to looming tariff threats from the United States. The proactive measures aim to help local businesses pivot towards a more domestically-focused trade landscape.
Josh Morgan, a key spokesperson, highlighted the need for interprovincial trade barriers to be dismantled, emphasizing the importance of shifting programs to support small businesses and new entrepreneurs in seizing emerging opportunities across the country.
The initiatives, announced by the City of London, the London Economic Development Corporation (LEDC), and the London Small Business Centre, come after Morgan’s recent meeting with local business leaders to address the tariff concerns. President Donald Trump’s administration had initially threatened to impose 25% tariffs on all Canadian goods by March 4, but recent negotiations have delayed this action.
Focus on Food and Beverage Manufacturers
The announcement put a special focus on food and beverage manufacturers. Steve Pellarin, executive director of the Small Business Centre, pointed to the sector’s resilience during economic downturns and the advantage of southwestern Ontario’s robust agricultural resources.
Enhancements to the Foodpreneur Advantage Scale Up program will help small manufacturers place their products on Canadian grocery store shelves, bypassing interprovincial barriers. Increased collaboration between the Small Business Centre and LEDC will also support businesses as they scale from medium to large enterprises.
“The tariff threats have pushed us to explore collaborative opportunities, from program integration to resource sharing,” Pellarin said. The Foodpreneur program, combined with the NewStart initiative for newcomers, is expected to support over 45 companies and generate nearly 200 new jobs.
Attracting International Businesses
LEDC is also working to attract international businesses to London. A partnership with Global Start-Ups in Toronto aims to bring in pre-vetted international entrepreneurs with business plans and financial resources. Despite concerns from foreign investors due to tariff threats, Kapil Lakhotia, LEDC’s president, stressed the importance of leveraging the region’s strengths and creating strategies to diversify the economy.
The partnership has already shown promise, with nearly a dozen businesses considering London, potentially creating over 50 jobs. Moving forward, Lakhotia and Morgan emphasized that these initiatives, while not standalone solutions, collectively provide a robust toolkit for sustainable economic growth.