This report summarizes the May, 2026 economic update presentation to the Planning and Economic Development Committee of Niagara Region Council. While economic growth in Niagara has slowed, the region is seeing growth in both population and housing affordability.
Key facts include:
- Niagara’s economy continues to grow steadily, with GDP and labour market
indicators remaining stable despite pressures from US tariffs and global geopolitical
risks such as the conflict in Iran. - Population reached 551,128 in 2025 and is expected to slow slightly in 2026, while
employment income and household disposable income are gradually increasing,
though they remain below Ontario averages. - Non-residential construction, retail sales, and business counts remain strong, and
improved housing affordability is supporting consumer spending, talent attraction,
and long-term economic resilience.
Publication Date: May 13, 2026
Published By: Niagara Region Economic Development
Click here to access May 13, 2026 Economic Update, Niagara Region Economic Development
Click here to access slide deck, May 13, 2026 Niagara Region Economic Update Report
Click here to access a recording of the May 13, 2026 presentation
