
Grimsby taps biz leaders to help attract new investment
The
Town of Grimsby
has tapped 10 distinguished business leaders to help boost investment in the community.
'I believe what I offer and what (the town) is intending is our perspective in working with companies around North America to possibly bring them to Grimsby,' said Grimsby resident David Arkell, who is president and chief executive officer of 360 Energy Inc. in Ancaster and one of the first group of
business ambassadors
recently announced by the town.
'The objective of the program is to actually help Grimsby grow in a very thoughtful way.'
Arkell said his company works with businesses across North America and Europe, helping them reduce energy costs, lower their carbon footprint and purchase energy more efficiently.
'My background and experience can help support not only bringing people here, but what else can be done to enhance our current situation here in Grimsby,' Arkell said.
He said Ontario's energy grid plus the town's proximity to the QEW and the American border are all selling points for Grimsby.
'Most Canadians don't know Ontario has one of the cheapest and cleanest energy grids and I'm talking about electricity, natural gas and water,' Arkell said. 'That's something we take for granted; other people around the world don't and they're looking for that.'
Arkell noted high tech businesses are good targets to bring to the area.
'The world's changing,' he said. 'It's not all heavy industry.'
Arkell said he will be making a presentation to the North Atlantic Treaty Organization (NATO) on July 2 in Luxembourg about energy security and how Canada can support that.
'How Canada can be very helpful, not only bringing people here to help out in that but bringing companies from Europe because maybe they don't have secure energy in Europe,' Arkell said.
The other ambassadors are:
'When I was approached to submit an application to possibly become a business ambassador for the Town of Grimsby, I thought if I could be of assistance to our community, then why not,' Bain said.
'The quality of life, wonderful people and access to markets make it a top contender for business looking to expand their footprint.'
Bain said he will be looking at business plans and watching for opportunities during his travels around North America and beyond.
'Whenever there is opportunity, I will wave the Grimsby flag and share what our town has to offer, hopefully connecting them with Town staff and the economic development office who will provide specific information and opportunities,' Bain said.
'With a full complement of ambassadors from different sectors, there will be plenty of communication which can lead to opportunities for the town. If we don't share what we have to offer, people will make choices to set up shop elsewhere.'
Mayor Jeff Jordan said the business ambassadors are passionate leaders who connect businesses, spark opportunity and champion the town as a place to live, work and invest.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
New study warns that one type of US home foreclosures could surge by staggering 380%: 'Hidden risks'
Weather-related foreclosures across the United States could jump 380% over the next 10 years, reported CBS MoneyWatch. By 2035, weather-driven events could account for up to 30% of all foreclosures, compared with roughly 7% today. The research from First Street, a climate impact analysis firm, shows how rising repair costs and insurance premiums are creating a perfect storm for American homeowners. Weather-driven foreclosures happen when extreme conditions damage homes so badly that owners can't afford the repairs or insurance costs. Unlike traditional foreclosures caused by job loss or financial hardship, these stem directly from floods, hurricanes, wildfires, and other weather disasters. The problem hits families with low and moderate incomes the hardest since most of their wealth is tied up in their homes. When a storm destroys your house and insurance doesn't cover the full cost, foreclosure often becomes the only option. These foreclosures are a concealed financial risk that most lenders don't consider when approving mortgages, per the report. Banks typically look at your income, debt, and credit score but not whether your future home sits in a flood zone or wildfire path. First Street projects lenders will lose $1.2 billion this year alone, with losses climbing to $5.4 billion annually by 2035. For every 1% increase in insurance costs, it estimates foreclosure rates jump by roughly 1% nationwide. "Such losses represent the 'hidden risks' of climate change that lenders often fail to account for in their underwriting practices," CBS MoneyWatch wrote while paraphrasing Jeremy Porter, head of climate implications at First Street. This oversight leaves both homeowners and banks vulnerable when disaster strikes. Florida faces the biggest risk, with eight of the top 10 counties for the highest projected credit losses. Duval County alone could experience $60 million in losses from 900 foreclosures in a severe weather year. Do you think America is in a housing crisis? Definitely Not sure No way Only in some cities Click your choice to see results and speak your mind. However, the impact goes beyond coastal areas. Heavy rainfall and river flooding threaten inland communities too, especially where flood insurance coverage remains spotty. The real problem lies in insurance gaps. The Federal Emergency Management Agency's flood maps cover just under 8 million properties, but First Street estimates nearly 18 million homes face flood risk. That leaves millions of homeowners without proper coverage. "About half the people with significant flood risk aren't mapped into [FEMA's] Special Flood Hazard Area," Porter explained. "So it leads to a state where we have a lot of underinsurance across the country." Properties outside official flood zones saw foreclosure rates 52% higher than those inside protected areas when flooding occurred from 2002 to 2019. "If you don't protect yourselves, then when the event does occur it's completely on you. You end up having to pay out of pocket and you may go into foreclosure," Porter said. When buying a home, ask about flood risk even if you're not in an official flood zone. Consider flood insurance regardless of requirements, and factor potential weather-related costs into your budget. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.


New York Post
4 hours ago
- New York Post
Treasury Secretary Scott Bessent asks Congress to strip ‘revenge tax' from Big Beautiful Bill
Treasury Secretary Scott Bessent asked Republicans in Congress on Thursday to remove the so-called 'revenge tax' from President Trump's 'big, beautiful' bill. The provision would grant Trump the authority to tax foreign holdings of US investments as a way to retaliate against countries imposing new taxes on US companies operating overseas. Bessent argued that the provision, known as Section 899, was no longer necessary after the Trump administration reached a deal with G7 nations at last week's summit to exempt US companies from a 15% global corporate minimum tax championed by the Biden administration. Advertisement 'After months of productive dialogue with other countries on the OECD Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests,' the Treasury secretary wrote on X. 'President Trump paved the way for this historic achievement.' Tax writers on Capitol Hill welcomed Bessent's announcement and said the tax would be taken out of the bill. REUTERS 'OECD Pillar 2 taxes will not apply to U.S. companies, and we will work cooperatively to implement this agreement across the OECD-G20 Inclusive Framework in coming weeks and months,' Bessent added. 'I want to thank my G7 counterparts for their partnership and collaboration towards achieving this historic outcome.' Advertisement 'Based on this progress and understanding, I have asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill.' The massive piece of legislation is currently working its way through the Senate. Sen. Mike Crapo (R-Idaho), the top Republican on the Senate Finance Committee, said the revenge tax provision would be stricken from the bill. 'At the request of @SecScottBessent and in light of this joint understanding to preserve US tax sovereignty and allow US tax laws to co-exist with the Pillar 2 regime, we will remove proposed tax code Section 899 from the One Big Beautiful Bill Act, and we look forward to active engagement with Treasury on these important issues,' Crapo wrote on X. Advertisement House Ways and Means Committee Chairman Jason Smith (R-Mo.) called the deal a 'major victory for American workers.' Some on Wall Street feared that the provision would discourage global investment in the US. The Senate's version of the revenge tax had been projected to raise more than $50 billion in revenues over 10 years, which would've helped defray the cost of other spending in the bill. Trump has urged Congress to pass the bill by July 4. Advertisement Trump wants Congress to pass his 'big, beautiful' bill by July 4. AP Bessent said the agreement struck with G7 partners ' provides greater certainty and stability for the global economy and will enhance growth and investment in the United States and beyond.' 'By reversing the Biden Administration's unwise commitments, we are now protecting our Nation's authority to enact tax policies that serve the interests of American businesses and workers,' he added. 'We are also preserving our tax base, preventing the loss of over $100 billion in American taxpayer dollars according to Treasury estimates and the non-partisan Joint Committee on Taxation.' 'The Trump Administration remains vigilant against all discriminatory and extraterritorial foreign taxes applied against Americans. We will defend our tax sovereignty and resist efforts to create an unlevel playing field for our citizens and companies.'


Time Magazine
5 hours ago
- Time Magazine
TIME100 Most Influential Companies 2025: Meta
In April, Mark Zuckerberg told tech podcaster Dwarkesh Patel that the average American has 'demand for meaningfully more' friends. The Meta CEO's odd formulation of social relationships was the precursor to an equally weird 'solution.' Zuckerberg's vision for the AI future, which he laid out in detail this spring, involves populating your feeds with 'AI friends' who get to know you over time by harvesting your data. These days Meta, currently engaged in a war for AI supremacy against OpenAI and Google, seems more interested in AI than the genuine social connection that Facebook was founded to foster. (In June it announced a $14.3 billion investment and 49% stake in the AI data industry-leading startup Scale AI.) Meta's recommendation algorithms now boost a new kind of AI-generated engagement bait, which has derogatively been labeled 'slop.' And it recently launched a suite of AI chatbots that compete with users' friends for conversation and can engage in romantic or sexual roleplay. A Wall Street Journal investigation found that the bots would do the latter with users identifying as minors; Meta has since curbed underage users' access to such behaviors, the company says. With Meta's profits up sharply in 2024 and the company drawing praise from President Trump in January for ending its fact-checking program in the name of 'free expression,' Zuckerberg is sanguine about our AI future. Current stigma around AI friends, he told Patel, will recede as society learns to 'articulate why they are valuable.'