Ontario Construction Report staff writer
Ontario is hoping Toronto becomes the headquarters of the newly created Defence, Security and Resilience Bank (DSRB), with Premier Doug Ford says the city is uniquely positioned to host the multilateral institution because of its financial sector, manufacturing base, skilled workforce and global transportation links.
“As a stable and trustworthy partner for our allies in an increasingly uncertain world, a successful DSRB has the potential to turn Canada into a global capital for defence financing and manufacturing, creating historic opportunities for Canadian workers, strengthening our economy and expanding our influence on the international stage for decades to come,” Ford said.
The DSRB will finance defence production, supply-chain resilience and security-related projects as NATO countries and allies increase military and security spending amid rising geopolitical tensions.
Ontario outlined several measures it says would support the bank’s launch and long-term operations if Toronto is selected as headquarters. The province said it has identified a potential interim headquarters site at 200 Front St. W. through its existing property portfolio and would use the $4-billion Protect Ontario Account Investment Fund to attract investment into the province’s defence sector.
The government also said it intends to issue at least $500 million in Resilience Bonds to help finance defence projects through Ontario’s Sustainable Bond Framework, which could include support for the DSRB.
“Toronto offers the financial expertise, institutional capacity and global connectivity required for a multilateral organization like the Defence, Security and Resilience Bank,” said Finance Minister Peter Bethlenfalvy.
The province estimates the DSRB would create 3,500 direct jobs along with thousands of additional spin-off positions across finance, advanced manufacturing, technology and the skilled trades.
Ontario officials also highlighted Toronto’s role as Canada’s largest financial centre and a growing hub for artificial intelligence, cybersecurity, aerospace and advanced manufacturing.
“As NATO countries around the world increase their defence spending, Toronto’s selection will serve to elevate Canada’s role as a trusted partner in advancing global security, while creating new opportunities for our economy and workers,” said Vic Fedeli, minister of economic development.
Ontario accounts for about 36 per cent of Canada’s defence-sector employment and is home to more than 300 defence companies generating over $5 billion in annual revenue.
The government also pointed to the Greater Toronto Area’s concentration of universities, colleges and research institutions, saying Ontario produces more than 94,000 STEM graduates annually to support industries tied to the bank’s operations.
David Piccini said hosting the DSRB would create opportunities across multiple sectors.
“Hosting the Defence, Security and Resilience Bank in Toronto would be a major economic and workforce opportunity for Ontario,” Piccini said. “It would mean thousands of good-paying jobs for workers across finance, advanced manufacturing, technology and the skilled trades.”
The province said support for Toronto’s bid includes representatives from municipalities across Ontario as well as federal Liberal caucus members, provincial cabinet ministers, mayors and councillors.Public open house set for Newmarket stormwater management comprehensive plan
Ontario Construction News staff writer
Newmarket is inviting residents and stakeholders to provide input on its long-term stormwater planning at a public open house scheduled for May 26, 2026.
The session will take place from 7 to 8 p.m. in Council Chambers at the Newmarket Municipal Offices, where staff and consultants will present the draft direction for the Stormwater Management Comprehensive Plan and collect feedback from the community.
Stormwater runoff, which includes rain and melted snow flowing from roads, rooftops and other surfaces into local creeks and streams, is a key focus of the update. The town says the plan will guide how Newmarket manages stormwater infrastructure as growth continues and climate conditions evolve.
The comprehensive plan will include the development of a town-wide dual drainage stormwater model, an assessment of existing and future system capacity, and identification of priority capital projects, retrofit opportunities and operational strategies. It will also incorporate climate vulnerability assessments, sewershed classification, and a phased financial and implementation strategy.
Town staff say the work is intended to support long-term infrastructure planning, including capital investment decisions, budgeting, and environmental protection priorities.
At the open house, attendees will be able to review the project’s goals, timeline and technical approach, including how stormwater management options are evaluated. Residents and industry stakeholders will also be invited to identify local drainage issues and areas of concern.
Feedback gathered will inform the final version of the plan, which will serve as a framework for stormwater infrastructure management across Newmarket in the coming years.