Weekly Regional Business Intelligence | | | Written by Kieran Delamont, Associate Editor, London Inc. | | | Fanshawe staff asked to consider buyout Fanshawe announced a buyout offer for all full-time staff this week, saying that while the school had limited its spending, enrolment projections are lower than anticipated and a deficit persists. Staff were told in an email the school would be providing details of a voluntary exit incentive package in the near future, as its existing efforts to reduce the workforce haven’t cut far enough. In the spring, the school estimated that it would need to trim 35 per cent of its staff, fallout from a steep drop in international enrolment, which it expects will contribute to a net 30 per cent drop in enrolment at the school. The upside: It’s not entirely surprising the school wasn’t able to hit the aggressive reduction target through attrition, retirements and other soft-touch methods. The breadth of it might suggest that things are not yet financially stable at the school, which is looking at deeper staff reductions than other Ontario colleges — many have announced reductions in the 20 to 25 per cent range. Down the highway at Conestoga, 181 full-time employees were laid off on Tuesday, after it had previously offered buyouts to 700 staff. Read more: CBC News London | | | Apartment vacancy hits 15-year high London’s vacancy rate has hit a 15-year high and now stands at four per cent according to recent data from the Canada Mortgage and Housing Corporation (CMHC). It’s a fairly sharp jump from last year’s 2.9 per cent vacancy rate, evidence that the city’s efforts to boost supply has had some effect. “You’ve had quite significant increases in rental apartment construction in London in recent years,” Anthony Passarelli, CMHC economist for southern Ontario, told CTV News London. He also noted that the demand side of the equation has eased, too. “A big part of that is that international student component where in London it’s a strong driver of rental demand and that those numbers have really come down this year with the international student cap,” he said. CMHC data shows that London’s purpose-built rental supply grew by 2.1 per cent this year alone, with over 2,500 units completed in the first nine months of the year. The upshot: It will be interesting to watch the impact of the supply gain on rental rates over 2026. The average rent paid for a two-bedroom apartment in CMHC’s data did rise by 4.1 per cent year-over-year, but that’s not entirely unexpected, as the softening of rents will take some time to appear (and you have seen some of this happening in the monthly rentals.ca reports, although those are created with different methodologies than the CMHC uses). With lots more apartments expected to hit the market int he next 18 months or so, some industry watchers are expecting rental rates to level off or even reduce over the coming months. That said, there are skeptics. CIBC’s Benjamin Tal recently suggested that rents may hit a floor, arguing that estimates of people sharing homes (either with roommates or living at home) have been undercounted, and that people moving out may add to overall demand, thus limiting decreases in rent. Time will tell. Read more: CTV News London | CMHC | | | Council approves London Hydro affiliate Council has signed off on a proposal from London Hydro to set up an affiliate company that can “pursue affiliate business activities” at this week’s final council session of 2025. “As a part of this decision, the city will re-establish London Hydro Holdings as an affiliate corporation to support London Hydro’s participation in non-regulated business opportunities,” the utility wrote in a press release on Thursday. “This affiliate structure will enable the utility to explore growth areas such as generation, energy services, and other infrastructure opportunities that are not permitted under the current regulated utility model.” London Hydro first floated the idea back in August, when CEO Ysni Semsedini suggested the move would benefit consumers and “really drive economic development in the region.” Council voted 12-0 in favour of allowing London Hydro to set up the affiliate company. The upshot: It’s more of a catch-up move by London here, rather than trying to pilot something new — they’re one of only a couple large electricity providers without a similar arrangement. London Hydro has been a bit vague in speaking about what it actually wants to do with this new company, but the language of the bylaw passed by council says the new company would be allowed to do things like engage in providing telecommunication services, retail different electricity products (think, EV charging or other special services) and so on, giving them an element that is able to move more freely within the private energy sector. “Establishing this affiliate aligns with London Hydro’s strategic vision to harness competitive opportunities that benefit our community,” said Semsedini. “We look forward to working collaboratively with the city to drive innovation, create value for customers, and support London’s energy transition.” Read more: London Hydro | | | Film London funding extended Perhaps basking in the holiday magic of the shot-in-London holiday flick Very Merry Mystery, Film London announced that it has received $700,000 in incentive funding aimed at attracting film productions to the city. The two-year funding ($350,000 annually) comes from Tourism London. The funding program reimburses up to 20 per cent of production costs for things like catering, equipment rentals and hotel stays. “A production company applies and has to meet the criteria, and they receive 20 per cent reimbursement of their local spend,” Film London’s Andrew Dodd told The London Free Press. “It makes a lot of sense. I’m proud of our city, the partnerships and collaboration. They see the value of working together.” The upshot: A Christmas movie heading straight to TV and streaming might not be Oscar bait, but it does seem to have left an impression on city officials and film industry folks — enough that several of them referenced Very Merry Mystery in their support for the funding program. “I saw the money they spent locally to bring in lunch and on the set dressings at local shops,” said deputy mayor Shawn Lewis, talking about the production of Very Merry Mystery. “We’re building an infrastructure here that’s been very successful, and that has caught people’s attention.” Kelly Peckham, co-founder of London-based Broad Films (which worked on the holiday movie), said the funding was crucial. “It’s very expensive for hotels, per diems, and other costs — without that fund, they wouldn’t be working here,” she told CBC News London. “They want to turn London into a hub of filming and that fund will allow us to do that with them.” Read more: CBC News London | London Free Press | | | Feds make industrial investments in Ingersoll area While workers at the CAMI plant are still awaiting clarity on its future, FedDev Ontario announced it was kicking in financial support to three Southwestern Ontario manufacturers in the region. Hydra Dyne Technology, Future Transfer and Melnik Resources are each getting a slice of $5 million in loans, pitched as a form of business support amid the ongoing tariff situation. “We supply in the U.S. and around the world, and it is important we export outside of Canada,” said Hydra Dyne’s CEO Stephan Bohner. Hydra Dyne and Future Transfer are both industrial parts manufacturers, while Melnik Resources (which received $530,000) produces steel mounts. “We’re going to continue to support them and walk with them to make sure that they actually can get to the other side and survive this challenging tariff war that we’re in,” said local MP Arielle Kayabaga (pictured, centre), who was on hand for the announcement. The upshot: This is bread-and-butter industrial policy from FedDev Ontario, which is keen to play a central role in the government’s efforts to pivot away from a U.S.-reliant manufacturing economy. That it took place pretty much in the literal shadow of the idle CAMI plant might have been a little bit awkward — as we wrote about a couple weeks ago, workers at the plant have been left wondering what happened to a supposed deadline given by the federal government to GM to develop a plan for the plant, Nonetheless, the tenor of public comments was much more in line with the kind of economic nationalism that has become common currency lately. “In light of the global trade challenges we are facing now, this support is welcome,” said Ingersoll’s director of economic development Curtis Tighe. “Ingersoll is at the centre of Canada’s industrial heart land.” Read more: CTV News London | London Free Press | | | Paradigm Distillery releases exclusive aged whisky Paradigm Distillery, located within the 100 Kellogg complex, is rolling out a new limited-edition, 28-year-old whisky this holiday season. Called Tökara, the whisky pre-dates Paradigm by 23 years: the distillers purchased the whisky about year ago (a non-disclosure agreement prevents them from saying who produced it originally), and have been finishing it for the past year, making it one of few Canadian whiskies that old on the market. “When you talk about a whisky that’s 28 years old, it’s really a Canadian artifact,” Paradigm co-founder Irma Joeveer told The London Free Press. “Tökara is the oldest whisky we’ve ever released, and it’s something very few people will ever get to experience.” Finished in barrels used for Tokaji, a renowned sweet dessert wine from Hungary, the experience is indeed a premium one — the limited-run (1,500 units) bottles are retailing for $269. The upshot: Paradigm’s production model — acquiring barrels of semi-aged whisky and then employing their own one- to two-year finishing process (consisting of rebarelling and more aging) — has proven successful for Paradigm and has allowed the five-year old operation to put out some top-shelf bottles. In 2024, Paradigm won Whisky of the Year at the Canadian Whisky Awards for their 2022 Heritage Collection, also a limited-edition run. “Our program is to finish it, rebarrel it, make it special, bring out its best qualities,” Joeveer explained. “I have a huge whisky collection, and of all the whiskies I’ve ever owned, I think I’ve only had two Tokaji-finished whiskies. It’s extraordinarily unique.” Read more: London Free Press | | | Dispatch: December 19, 2025 A summary of recent business appointments and announcements, plus event listings for the upcoming week. View listings here | | | | |