#124 – Inside Our Industry – Near-Shoring to Canada as Part of the Supply Chain StrategyPosted on | Inside Our Industry
Our friends to the north play a critical role in settling supply chain disruptions caused by the pandemic. Following is the introduction to the November 4, 2022, Area Development site & Facility Planning Insider. We couldn’t agree more.
Near-Shoring to Canada as Part of the Supply Chain Strategy
The supply chain disruptions caused by the global pandemic have resulted in many companies reshoring some operations to the U.S. as well as near-shoring to Canada and Mexico. In fact, in June of this year, U.S. Treasury Secretary Janet Yellen and Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland championed a new era of “friend-shoring” — also known as “ally-shoring.” In this way, the supply chain will not be dependent on regions where U.S. firms have geopolitical concerns, according to Secretary Yellen.
Canada has been recognized as the world’s 5th-largest agricultural commodities exporter, the 4th-largest aluminum producer, the 3rd-largest oil exporter, the 2nd-largest uranium producer, and the largest source of key fertilizer products such as potash and peat. Importantly, Canada is the only country in the western hemisphere that has all of the critical minerals required to manufacture EV batteries. And Canada is the only country with preferential trade deals with all G7 members.
Additionally, Canada’s world-class educational institutions are designing curricular and skills certification programs to ensure that the country’s talent remains best-in-class with transferrable and portable skills. Canada also attracts talent from across the globe, and immigration officials can safely and securely process visas for highly skilled and in-demand workers in thirty (30) days or less.
A talented workforce has been a vital part of the province of Ontario’s success. Ontario is home to 40 percent of Canada’s population, nearly three quarters of whom have post-secondary education. Ontario is also a one-day drive from 200 million consumers, and its modern infrastructure benefits the warehousing and distribution sector.
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