Last week the federal government finally provided details on the new Southern Ontario Development Agency.  SODA was announced last January as part of the Conservative Government’s Action Plan for Canada.  Over the last several months, rumours and speculation passed through economic development circles across Ontario. 

Over the past months, we’ve heard increasingly depressing news about economic crises, first in the U.S. and then spreading around the world, bankrupting once-invulnerable financial institutions and industries upon which our economies have relied and thrived for years.  In some instances, notably Iceland, the downturn has not only hit industries, but even entire nations.  In response, we’ve also heard attempts by federal, state and provincial governments to jump-start sluggish or eroding economies, boost industries, create jobs, and stop the leakages before they become floods.  We also hear about solutions: interest rates are lowered, big industries are offered incentives and funding appears for infrastructure projects, always a favourite instrument in the government’s economic recovery tool belt.