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Weekly UpdatesSudbury's supply and service industry has the tools it needs to survive and even thrive in today's troubled economic times; it just needs to be willing to be creative and adventurous, a Ministry of Northern Development and Mines (MNDM) official said.
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"If we are beholden to global markets, then we should be a global player," said Kevin Costante, deputy minster of the MNDM.
Costante was just one voice among many lending their opinion on what needs to be done to weather the financial storm during a brainstorming session at the Sudbury Area Mining Supply and Service Association (SAMSSA)'s annual general meeting.
Consisting of nearly 100 representatives from business, academia and government, many attendees shared their thoughts on potential solutions to help soften the economic downturn.
Many reflected Costante's position, agreeing that external markets stand as a particularly strong source of potential for local players who are beginning to find challenges in the Sudbury Basin.
"Don't be concerned about the opportunities," said Todd Herold, president of Herold Supply. "In slower times, you need to get out and knock on some doors."
One particularly big door that Sudbury suppliers should consider knocking on a little harder is the Alberta oil sands, said Paul Finley, business development officer with the City of Greater Sudbury.
Although oil prices have taken a dive, Finley suggested that perhaps a Sudbury-representative office be established as a "beachhead out there," since similar mining concerns and technology is shared between the two places. Thunder Bay has also become instrumental as a transportation hub for the big oil companies in that province.
With no small amount of enthusiasm, he also suggested that Sudbury could stand as a potential base for the development of renewable energy technologies.
The market for that sector will be especially strong in the future, especially in light of United States President-elect Barack Obama's early commitment to pushing that industry in his coming tenure.
This means many opportunities exist on Sudbury's advanced manufacturing front and can be represented by B + D Manufacturing and Mining Technologies International to name just two.
The approach of taking a closer look at the region's research potential was supported by Kirk Petroski, director of business development for Symboticware Incorporated. By investing in research capabilities and a stronger knowledge economy, Sudbury businesses can take advantage of the "excellent opportunity" presented by the sector, he said.
This soon led to a discussion on practical knowledge, as members of the audience openly wondered what post-secondary institutions were doing to entice younger generations to consider skilled trades.
Daniel Giroux, vice-president of College Boreal's Entreprises Boreal, said his colleagues are working with local boards to develop trades-specific majors for high schools.
By NICK STEWART
Northern Ontario Business
www.samssa.ca
www.mndm.gov.on.ca
www.heroldsupply.com
www.city.greatersudbury.on.ca
www.symboticware.com
www.borealc.on.ca
www.steelwear.com
www.roynat.com
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