Ontario Premier Doug Ford’s government is advancing headlong with their plan to establish special economic zones. This decision is an effort to expedite the construction of mega-infrastructure projects. Bill 5 now gives the authority the power to designate these zones. This government insists that this piece of legislation is absolutely necessary if we’re to accelerate big ticket developments — most notably in the resource sector.
The implementation of Bill 5 comes at a time when global economic conditions are already extremely uncertain. The federal government hopes to incite economic development and strengthen underserved communities through the establishment of these Opportunity Zones. Proposed criteria for qualifying projects include delivering substantial long-term benefits to Ontario, strengthening local economies, and demonstrating a high probability of success.
In alignment with this strategy, Ontario has recently issued a request for proposals regarding a feasibility study for a potential tunnel project. The government still needs to choose a proponent for this particular study.
Despite these setbacks, the administration continues to pursue creation of the special economic zones. They are even considering the idea of including “moon shot” projects—super ambitious, maybe even self-contained initiatives that have a real low probability of success but could generate a tidal wave of positive change.
“Should potentially important ‘moon shot’ projects be put forward if they could have enormous impact, even if they have a low likelihood of success?” – Consultation documents
Even as government officials celebrate the announcement, critics are beginning to raise alarm about the intentions behind and effects of a proposal like this one. In a statement, NDP Leader Marit Stiles said she was dubious about the fate of such proposals.
“If there’s red tape, then let’s fix it. But gutting the rules for a select few is not how you build trust and strengthen our economy. What guardrails are there to stop Ford from bending the rules to push through ridiculous ‘moon shot’ projects like his 401 tunnel?” – Marit Stiles
Stiles stressed the importance of speeding up project development while challenging if this was really the best way to benefit all Ontarians.
“We need to build and move projects along,” – Marit Stiles
Nevertheless, the Ford government is still barreling ahead with its plans. Now, both the public and their stakeholders are waiting with bated breath to see how these controversial special economic zones develop and which projects they’ll be permitted to approve. The focus remains on balancing ambitious development with regulatory integrity to ensure that all Ontarians benefit from these initiatives.
