One of the biggest economic renewal opportunities anywhere centres around infrastructure. Depending on which source you look at, the deficit in municipal infrastructure alone can run into the billions as aging roadways, drain pipes and so on need replacing. Add to that provincial assets such as highways or bridges – whether it is old ones needed to be updated or new ones to accommodate growing populations.
One that doesn’t get as much attention, however, is infrastructure in the technical world. Information technology is always changing or being improved so it needs to updated – like the addition of 5G for example.
But, just like the transportation or municipal infrastructure system – IT systems are cyclical too. And the last big renewal was 20 years ago driven by fear of Y2K. Improvements made back then – and they were widespread – are often reaching the end of their useful life and we should probably be expecting to hear of large investments being needed …and another infrastructure cycle that will create jobs and investment over a long time frame.