Economic Development and Employment

For some time, the Greater Peterborough Area was positioned as a leader in traditional economic activities such as manufacturing. More recently however, the Greater Peterborough Area has been faced with higher-than-average unemployment rates –a likely reflection of the less than certain global markets of the past several years. In order to ensure meaningful employment for our residents, the region, under the guidance of the Peterborough Economic Development Corporation, is in a marked transition, building upon its traditional, industrial economic base and shifting towards what has been coined the ‘creative economy’ – an economy predominantly based on knowledge and culture, in addition to resource extraction and manufacturing. The creative economy and sustainability help build economic resiliency to market fluctuations.

Our Goal:

We will create and retain prosperity by providing investment and employment opportunities within sustainable local and global markets.

Strategic Directions:

• Encourage and promote our leadership in sustainability to attract people and investors to the region.
• Retain youth in our communities through education and employment opportunities.
• Transition to the creative economy by creating meaningful employment.
• Sustain our vibrant downtowns/village centres as hubs for services and products.
• Support local businesses to transition to sustainable model.

Priority Action:

• Through community asset mapping, promote the region’s abundant natural assets, its sustainability initiatives and industries, and its economic potential.

Further details on the Economic Development and Employment Theme Area can be found in this section of the Sustainable Peterborough Plan. Numerous initiatives are being actioned through the Sustainable Peterborough Business Initiative working group.

Projects Associated with the Economic Development and Employment Theme Area

A new local collaborative project, selected amongst 90 national applications, commenced in 2018. This is a 3 year project, funded by FCM.  Peterborough and the Kawarthas Economic Development is the project host in partnership with Sustainable Peterborough, Curve Lake First Nation, Hiawatha First Nation, the Township of Selwyn, The Township of Otonabee-South Monaghan, and the County of Peterborough.