Plant to close, loss of 550 jobs
Good morning Hamilton Investors! The closing of the Hamilton Siemens plant is planned for next year in July.Â Click here to link to the article in the Hamilton Spectator
Don’t have time to follow the story?Â Here are my takeaways:
- The reasons for closing the plants are: incentives from their new home in North Carolina and proximity to their customer base and not due to Hamilton’s skilled labour force.Â These are sound business reasons when you factor in having to cross a border and the rising cost of fuel for transportation
- For all you home service providers (aka landlords) with clients (aka tenants) who are employed by Siemen’s Hamilton you better be communicating with your clients
- Not all is lost…Â yet. Siemens has an order from Samsung to build wind turbine blades and Hamilton has been shortlisted along with Windsor as 1 of 8 potential locations
- A decision will be made at the end of this month and I’ll be sure to keep my eyes on it.
Erwin has been investing in real estate since 2006 and is a highly decorated investor and realtor. His list of awards and accomplishments includes:
â€¢ FOUR time consecutive finalist for the Michael Millenaar Memorial Award and 2013 WINNER for his leadership and contribution to the Real Estate Investment Network community.
â€¢ TWO time finalist & 2015 WINNER for Realtor of the Year for Ontario by the Real Estate Investment Network
â€¢ TWO time finalist & 2016 WINNER for Real Estate Agent of the Year by Canadian Real Estate Wealth Magazine
â€¢ REINâ„¢ Ambassador (Endorsed Realtor by REINâ„¢)
â€¢ Silver award recipient by the Real Estate Investment Network
â€¢ 2013â€™s Top Player Award by the Real Estate Investment Network
â€¢ Regular contributor to REINâ„¢ Real Estate Report and Canadian Real Estate Wealth Magazine
Erwin has owned and still owns numerous investment properties: single family, renovate and hold, multi-family, multi-family conversion, and student housing. He left his corporate job at â€œBig Blueâ€ to pursue his passion as an entrepreneur in investment real estate. Heâ€™s been featured in the Hamilton Spectator and been a guest speaker at several investment networks and has coached numerous successful real estate investors by focusing on economic fundamentals and financials.