Invest Windsor-Essex facing major financial deficit

Invest Windsor-Essex is facing a big budget cut. Essex County council recently agreed to lower the amount of funding to Invest Windsor-Essex and the City of Windsor is set to do the same.

Invest Windsor-Essex attracts companies to the region, retains and helps company start ups and expand companies.

It is going to run a deficit of nearly $350,000 in 2025. A 15 per cent cut at the county level amounts to about $160,000. The City of Windsor is going to make the percentage cut for another $180,000.

"With this funding reduction, it will impact our ability to do foreign direct investment and to provide services for our communities," said interim CEO Joe Goncalves.

"We fund this on a per capita basis and so it'd be a little rich for the city to carry more water than the county and if they're cutting back 15 per cent, so we're going to have to look at our contribution to make sure that we maintain our per capita funding for this organization," added Mayor Drew Dilkens.

Goncalves said the organization was hoping to hire specialists to help diversify the economy in the Agri sector. Now, they are looking at staff cuts of three to five people.

"We've seen, in the last two years, the real benefits of having an outside agency funded by the county and the city." McNamara said.

A regional approach has helped Invest Windsor-Essex land over $22 million in grants in recent years spearheading projects like the VR Cave and boosting the growing automobility hub.

The organization was also instrumental in helping the region land the electric vehicle battery plant and accompanying supply chain companies.

"This is certainly an organization that has reached out beyond our boundaries and have done a great job in securing a lot of investment," McNamara told CTV News.

"We're not talking chump change here."

McNamara said a budget bylaw has not been passed offering a glimmer of hope. As Chair of the board, Dilkens is disappointed to acknowledge job cuts.

"It's regretful. We'd actually like to make sure that we're maintaining the delivery of service at Invest Windsor-Essex, but there's no choice when the county pulls out 15 per cent," he said.

Goncalves is hopeful Invest Windsor-Essex can continue down the path of growth.

"Any opportunity to revisit it and to bring that funding back to the organization will go a long way," said Goncalves.