Construction tech solutions firm Trackunit commits to London growth

Multinational technology solutions firm Trackunit has announced it is expanding its London presence considerably this fall, moving into two floors of York Development’s The Cube office building at Talbot and York streets. The firm, which specializes in SaaS-based tech platforms, IoT solutions and machine insights for the construction sector, also plans to grow its London workforce to up to 80 employees, which would represent about 25 per cent of its total global workforce of 400 or so. Trackunit isn’t a household name around town, but it’s not completely new to the city either. The company first established a London office on Green Valley Drive after it acquired the Industrial IoT division of London-based ZTR just over a year ago.

The upshot: Founded in Denmark in 2003, Trackunit has rapidly expanded around the globe and its decision to grow its London presence speaks volumes for the city’s efforts to attract and expand its knowledge-based sectors. According to Kristoffer Debois, the company’s VP of software for North America, Trackunit is particularly keen to attract skilled engineers to keep pace with the IoT construction market, which is expected to grow globally to $22 billion CAD by 2024. “We’re a world-class software development company and we know there is a wealth of engineering talent available locally,” he said. “We intend to be a leader in the London tech market, in attracting the best talent.”  

Read more: LEDC | London Free Press

London posts worst homeownership rate in the province

When it comes to homeownership rates, London is dead last among Ontario cities, according to the latest Statistics Canada figures. Since the last iteration of the stats from 2016, London’s homeownership rate has fallen from 64 per cent to 62.6 per cent — both below the Ontario average of 68.4 per cent, and the national average of 66.5 per cent. For young people, the stats are even less positive: only 50.5 per cent for those aged 30 to 35 own a home, and only 58.1 per cent in the 35 to 39 demographic. Economist and Ivey prof Mike Moffatt said that the stats should hammer home the depth of the housing crisis. “I think there was this idea that, ‘yes, things were bad but young people are exaggerating how bad they are.’ But this is hurting young people today.” National stats on homebuilding don’t offer much cause for optimism, either — in addition to chronic underbuilding, more than 40 per cent of all new homes built between 2016 and 2021 have been snatched up by landlords and are now on the rental market. “I think this really confirms that the housing crisis is real,” says Moffatt.

The upshot: There are some unique characteristics that help explain London’s ranking on the list — mainly, its large immigrant population and large student population. Still, there’s not much to be optimistic about, especially for an increasingly frustrated demographic of young adults being priced out of the market, and who are less likely to own a home now than they were 10 years ago. Cities in particular need to start paying attention — surveys have found that many young people are prepared to leave the city to find affordable housing, and with retirement rates creeping up, it could amount to an urban brain drain for the ages.

Read more: London Free Press | CTV News

From the magazine: Returning in style

After two pandemic years, the Forest City Film Festival returns to in-person with an expanded programming that champions diverse voices in film.

School bus driver shortages in London and other areas likely to continue

Here in London and across the province, there’s yet another labour shortage to be grappled with — this time it’s school bus drivers, and there’s still worry that route cancellations may be on the table. Earlier in the month, the Thames Valley District School Board trustees were warned that some routes in the city could experience disruption throughout the year. “We’re hopeful that we have enough bus drivers, and that’s what Student Transportation Services has said, but you never know,” said the board chair. Bus operators have also warned that they don’t have a bench of spare drivers this year. “So as soon as there’s any kind of a problem - a rise in Covid cases, that type of thing ― that’s where we’re going to struggle,” said Les Cross, regional manager of Student Transportation Canada, the owner of Elgie Bus Lines.

The upshot: The pandemic continues to wreak havoc on this industry. Many of those who were driving school buses pre-pandemic were older and have since retired; others, also older, are still concerned about Covid infection and are sitting it out this year. And then, as usual, there’s the pay issue. The Ministry of Education is offering a retention program, offering up to $2,000 in bonus payments, and have estimated that the overall student transportation funding will be as much as $1.1 billion this year. But bus operators would like a raise, too. “The drivers are highly qualified,” says Nancy Daigneault, the executive director of School Bus Ontario. “They have a lot more training than public transit drivers, and yet they get paid less.”

Read more: Global News | Blackburn News

Plans emerge to leverage City of Music designation

Last November, London was designated a UNESCO City of Music — the first Canadian city to be inaugurated as such. Now, nearly a year later, the city has sketched out a plan to leverage that honour. Off the top, city staff are recommending that council carve out a core entertainment district between downtown and OEV, home to more than a dozen live music venues, where there would be broader regulatory permissions for musical events. Noise bylaws that limit the time and volume of outdoor concert should be reviewed, staff say, to make sure they’re “in keeping with the UNESCO City of Music designation.” They’re also planning to add the designation to city entrance signs off the highway, and to put up new murals advertising London as a “Music City.” For artists, they’re planning to offer programs intended to increase career resiliency, and are offering funding for restaurants, bars and cafes to host concerts on their patios.

The upshot: The City of Music designation was one of the crown jewels stemming from the 2014 London Music Strategy, so it makes sense now that the designation has been secured that they look to leverage it. The biggest project — and one of the lasting bits of Mayor Holder’s legacy — might be the creation of this downtown district. It’s been an idea he was pushing hard for in the spring, and he’s generally landed on the “let the music play” side of the debate on things like Rock the Park and event permits. 

Read more: London Free Press | City of London

From our Content Studio: When it comes to meetings and events, planners are tackling a whole new landscape of questions, concerns and opportunities. Are you ready?

When it comes to business gatherings — from the smallest of meetings to large conferences hosting hundreds — attendees are attracted to an event based on what they think they’ll get out of the experience. This means an event must demonstrate real value and offer knowledge that attendees can use and pass on to colleagues.

Many of the corporate event planning trends over the next year will continue to be impacted by the pandemic and its effects, so safety and flexibility will be key. And other corporate event trends will be noted as time unfolds. But for now, there are a number of popular event types and themes that can help you inform your planning process.

Dispatch: September 23, 2022

A summary of recent business appointments and announcements, plus event listings for the upcoming week.

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