Biotech, energy top list.

• Author: Louiseize, Kelly
• Position: Economic conditions of Thunder Bay, Ontario

Knowledge-based sectors, energy and tourism projects are key to expanding economic development in Thunder Bay.

One of the city's focal points is to target companies within the knowledge based sector with few transportation needs.

"The cost of transporting research and development is at the click of a button, so we are targeting the knowledge-based economy more than we ever have because transportation costs within (the cluster) are absolutely zero," says Derik Brandt, manager of tourism and economic development in Thunder Bay.

The city will benefit from home-grown biotechnology companies like Genesis Genomics, which is currently expanding into the United Kingdom. The expansion is "perfect timing," according to Dr. Bob Thayer, president of Genesis Genomics. Through such expansions, the city will inevitably attract key professionals who will grow the biotechnology cluster.

Local architectural firm Peterson & Habib is also providing economic growth by purchasing the former Port Arthur and McKellar hospitals. The deal has been on the table for three years and it is rumoured the two facilities will be used as a biotechnology incubation centre.

John Douglas, president of Ventus Energy, is assessing five locations in the northwest, two in the Thunder Bay region, for a potential multimillion-dollar wind farm development.

RELATED ARTICLE: City of Thunder Bay

* Quick facts

* Population -- 121,986

www.thunderbay.ca

* Location -- 700 kilometres northwest of Sault Ste. Marie

* Main industry --...