Business Briefs News

MBI Business Brief – March 10, 2023

Maple Leaf Foods processing plant facility in Brandon, Manitoba. Photo by Maple Leaf.

True North considers Portage Place purchase

True North Real Estate Development Limited (TNRED) announced this week it will into an Option Agreement with Forks North Portage Partnership to examine purchasing Winnipeg’s Portage Place. The agreement will “provide TNRED with the exclusive right to acquire the FNPP interest in Portage Place for a period through to Dec. 31, 2023 for a predetermined purchase price.”

TNRED will have one year for its own due diligence on an urban redevelopment plan for Portage Place and area. According to the company, it will work with its “partners and consultants both public and private will vigorously pursue this redevelopment planning process throughout calendar 2023.”

The mall portion of Portage Place is owned by Vancouver-based Peterson Group, with The Forks North owning the parking lot, air rights and land.

Manitoba Budget 2023 released

The Manitoba government released the provincial budget on Mar. 7. Budget 2023 included tax measures for individuals, raising the Provincial Basic Personal Amount to $15,000 from $10,145. The government also added $668 million in spending for health care in 2023 and a $1.2 billion multi-year capital campaign for more capacity at nine facilities including in rural hospitals, St. Boniface Hospital, Grace Hospital, CancerCare Manitoba and Health Sciences Centre. Education spending was increased by $100 million for K-12 education, and another $65 million for post-secondary institutions, as well as a cap on tuition increases set at 2.75 per cent.

“In the last year, the Manitoba economy emerged faster and stronger than anyone could have anticipated with more Manitobans working than ever before,’’ said Premier Heather Stefanson. “Budget 2023 reinvests every cent of new revenue to help Manitobans and our most vital services – all accomplished while keeping the province on track to eliminate the deficit.”

The budget also included $27 million for loans and guarantees to “incent private-sector investment in enterprises that can demonstrate significant, sustainable growth and job creation.”  It also added $15 million for the Community Economic Development Fund and $20 million to support economic development and investment attraction. Venture capital funds were doubled to $100 million, and CentrePort South will see $40 million for infrastructure development. As well, $147.6 million will be invested over two years to improve the Hudson Bay rail line to the Port of Churchill.

“Our message to investors is simple – come grow in Manitoba,’’ Finance Minister Cliff Cullen said. “We are investing more than $2.5 billion in trade-enabling highway infrastructure over the next five years and making investments to spur economic development opportunities and generate well-paying jobs. Combined, the opportunities that lie ahead will support vital services, strengthen the government’s fiscal position and provide historic help for Manitobans.”

PADCOM receives final approval for commercial potash production

Potash and Agri Development Corporation of Manitoba Ltd. (PADCOM) has received final approval for Manitoba’s first-ever potash mine to begin production. The mine, located in the southwest near Russell, Man., will produce 50,000 to 100,000 tonnes of potash annually with expectations of increases to 250,000 tonnes.

The project has partnered with Gambler First Nation, who own a 20 per cent stake in the operation.

Canadian Museum for Human Rights names new VP

Darrel Nadeau, CMHR. Photo provided by CMHR.

Canadian Museum for Human Rights (CMHR) announced Mar. 7 that Darrel Nadeau will join the organization as vice-president, visitor experience on Apr. 3. Nadeau joins CHMR from Festival du Voyageur, where he was executive director since 2017.

“I am so excited to have Darrel join our executive team,” said Isha Khan, CMHR CEO. “As we continue to welcome back visitors from across Canada and around the world, his experience as a community and tourism leader is so valuable.”

Nadeau was born in La Broquerie, Man. He has a Bachelor of Commerce degree and an MBA from the University of Manitoba’s Asper School of Business, and holds a Certified Professional Accountant designation.

New legislation to change retail liquor sales

The Manitoba government has introduced amendments to the Liquor, Gaming and Cannabis Control Act and the Manitoba Liquor and Lotteries Corporation Act to allow retailers to sell liquor. The proposed five-year pilot project would allow Manitoba Liquor and Lotteries to enter into liquor retail agreements with operators, and would condense and clarify the definition of a liquor store and expand eligibility for licensing. Participating pilot stores would be required to purchase liquor from Manitoba Liquor and Lotteries.

West End Biz celebrates New Business Week

West End BIZ celebrated New Business Week this week, reporting that 56 new businesses were launched in Winnipeg’s West End in 2022.

The area’s new businesses include:

  • 1-800-Got-Junk – Unit D 1079 Wellington Ave.
  • Acupuncture College of Manitoba Clinic – 1112 Notre Dame Ave.
  • Ankang Acupuncture Healing Centre – U1 724 Ellice Ave.
  • A-One Fastfood & Grocery Mart – 643 Portage Ave.
  • Balance Jiu Jitsu – 6 -1000 Notre Dame Ave.
  • Banh Mi Mr. Lee – 843 Ellice Ave.
  • Bee Wow Convenience – 619 Portage Ave.
  • Born Wild Tattoo – 1416 Erin St.
  • Candy Shop – 555 Sargent Ave.
  • Carlo’s Hair & Makeup Studio – 871 Sargent Ave.
  • Chatime – 990 Portage Ave.
  • City Home Builders/ The City Team Constructions Inc – 1351 Notre Dame Ave.
  • Colour Scheme Professional Painters A – 1492 Wall St.
  • Community Respite Service C – 1155 Notre Dame Ave.
  • Compassionate Care – 831 Sargent Ave.
  • Emy’s Shop – 692 Sargent Ave.
  • Enlightened Electric – 1410 Erin St.
  • Galaxy Home Cleaning Services Ltd – 10, 1079 Wellington Ave.
  • Gen X Auto Sales – 808 Erin St.
  • Go Fresh Hospitality Inc – 376 Furby St.
  • Heather’s Pretty Parties – 646 Erin St.
  • J Lamm Accountant – U1 A 1368 Spruce St
  • Jamora Travel & Tours – U1 884 Sargent Ave
  • JB Plumbing + Heating/ Diamond Ridge Investments – 1408 Erin St
  • Jollof Life Restaurant – 1, 600 Portage Ave
  • Kkiko’s Grill – 1060 Ellice Ave
  • LBC Mundial Cargo Corporation – U2, 884 Sargent Ave
  • Link Right Talent -1, 548 Home St.
  • Mae Sunee Thai Cuisine – 1390 Erin St.
  • Main Focus Massage Therapy -202, 942 Erin St.
  • Mesidor Canadian Immigration Services – 873 Notre Dame Ave.
  • My Rent A Dress – U1 942 Erin St.
  • Oak & Apple C – 873 Notre Dame Ave.
  • Once in a Lifetime Painting – 937 Portage Ave.
  • PeaceWorks Technology Solutions – 101 960 Portage Ave.
  • Philman Cargo Express – U3 884 Sargent Ave.
  • PPG Aerospace Canada Inc – 613 Erin St.
  • Prairie Medical Acupuncture Clinic – 7thFlr 790 Sherbrook St.
  • Progressive Legal Solutions LLP – 768 Notre Dame Ave.
  • Rehabilitation Centre for Children – B 1155 Notre Dame Ave.
  • Rimyya Friendship Bar and Restaurant – 529 Ellice Ave.
  • Scooterdoc – 1394 Erin St.
  • Shape It Autobody – 999 Erin St.
  • Silex Fiberglass Windows and Doors – 1450 Wall St.
  • Simon Barber – 526 Sargent Ave.
  • Super Fun Beverage Company – U1 595 Wall St.
  • The Abby – 955 Portage Ave.
  • The Crispy Wing – 975 Notre Dame Ave.
  • The Glob Mob (Formerly The Peacesign) – 102, 904 Portage Ave.
  • Travelodge by Wyndham – 1400 Notre Dame Ave.
  • Valdek Construction – 1354 Spruce St.
  • Velocity Vehicle Solutions -1410 Spruce St.
  • White Pine Bicycle Co. – 1366 Spruce St.
  • ZR Home Solutions Inc – 70 Sargent Ave.

Maple Leaf Foods releases Q4 2022 and full year 2022 results

Maple Leaf Foods announced its Q4 2022 and full year results on Mar. 9, reporting a $41.5 million loss in Q4 with sales hitting $1.19 billion (up from $1.12 billion for the same time in 2021). Total sales for the year were $4.7 billion, with a net loss of $311.9 million in 2022. The company had challenges in 2022 including a cybersecurity incident, supply chain issues, and weaker markets for pork and plant protein.

“2022 was clearly a year of unprecedented challenges for us on many fronts, including hyper-inflation, dislocation in the pork markets, supply chain dysfunction, job vacancies and a cyber-attack,” said Michael H. McCain, CEO at Maple Leaf Foods. “Despite this tumultuous environment, we have maintained a steady hand on executing our plans including aggressively building our sustainability platform, starting up over a $1 billion of new assets and converting our plant-based business model to profitable growth. Of course, our fourth quarter results are not where we like them to be, given these unprecedented market conditions and the impacts of the cyber-attack, but the underlying health of the business in normal markets is solid and in-line with where we expected to be at this point.”

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