How Do You Handle a Major Employer Leaving Your Investment City?

One of the fundamentals in looking at places to invest is there being good employment and several stable employers.

But from time to time the unexpected happens. This recently did with General Motors announcement about closing the Oshawa car plant, a major employer in the city.

Perhaps the news headlines are making us think the worst, when in fact the city is going to survive or even thrive.

Michael Dominguez wrote a thoughtful article on the GM Oshawa news;

Today, G.M is still a major employer in the city, employing about 2,500 workers. Meanwhile, the city has grown up. It now has 160,000+ people, a thriving university, and so much more. Automotive is no longer one of the three largest employers in the region.

We have seen a reduction in full-time employees of about 85% of the original workforce. Yet, Oshawa, in 2017 and 2018 is expected to lead the province in GDP% growth, maintains low unemployment, and is growing at close to 1.8% annually in population. These are not the stats of a suffering city.

Read the full article here

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