Opinion: The Ontario Infrastructure Bank may hurt more than it helps

The Ontario Infrastructure Bank (OIB) was established in 2018 with the goal of investing in infrastructure projects across the province. While the OIB has the potential to bring significant benefits to Ontario's infrastructure, there are concerns that it may not be able to address the province's real problem: shortages of construction workers and project managers.

According to a report by the Ontario Construction Association (OCA), the province is facing a shortage of skilled labor in the construction industry. The OCA estimates that there will be 10,000 fewer workers in the industry by 2025, which could lead to delays and cost overruns on infrastructure projects.

The OIB's financing may not be able to solve this problem because it is focused on providing funding for specific types of infrastructure projects, such as transportation and energy projects. However, these projects require skilled labor, which is already in short supply.

Furthermore, the OIB's financing may not be enough to cover the costs of hiring and training new workers. According to a report by the Canadian Construction Association, the cost of hiring a new worker in the construction industry can range from $10,000 to $25,000, depending on the type of worker and their level of experience.

In conclusion, while the Ontario Infrastructure Bank may provide some funding for infrastructure projects, it is unlikely to address the province's real problem: shortages of construction workers and project managers. The OIB's financing may not be enough to cover the costs of hiring and training new workers, and it may not be focused on addressing the root cause of the labor shortage.