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Good morning! 📐Here is a rare case of building something wrong on purpose. Britain’s wonkiest pub, which leaned at a 15 degree angle, will be reconstructed in all its tilting glory after the 200-year-old structure was illegally demolished.

⏰ Today’s read: 4 minutes

MARKETS

*Stock data as of last market close; currency, oil and crypto data as of 6:45 PM ET March 11th, 2024.

Economy: B.C.-based lumber supplier Canfor says it lost $117.1 million in the fourth quarter of 2023, a smaller loss than $207.9-million a year earlier. Company officials stated it was a challenging year, as weak global lumber market conditions in late 2022 continued into 2023.

THE BIG STORY

Report: Immigration favours higher education

Research shows that Canada’s immigration strategy has heavily favoured university-educated applicants. BuildForce Canada noted that not focusing on immigrants with skilled trades experience is a massive missed opportunity and urged officials to reconsider their approach. 

Here’s the data:

• Of the  1.3 million principal applicant landed immigrants admitted between 1980 and 2021 still in the labour force, 69% held a bachelor’s degree or higher. Individuals with apprenticeship certificates or non-apprenticeable trade certificates accounted for only 4% of total admissions. 

• In 2022, 46% of the candidates receiving ITAs (invitations to apply) held master’s degrees, 40% had post-secondary credentials of three or more years, and 4% held PhDs. Of the top 15 professions receiving ITAs, software engineers received the greatest number of ITAs at 3,848.

• Since 2020, no construction roles were found in the top 15. However, since 2020, 2,778 university professors and lecturers received ITAs; 955 alone were granted ITAs in 2022.  

Set for success: The skilled trades aren’t just good for the country. They are good for immigrants. According to data from Statistics Canada, immigrants who get certified in a skilled trade within a few years of arriving in Canada make more money than other newcomers, including those who go and get a college or university education.

Calls for reform:

BuildForce’s report asked officials to commit to better policy alignment, more transparency, industry involvement and support for competencies-based skills assessments for foreign credential recognition.

Top of the class: Immigration could help create its own capacity. Thousands of tradespeople could help build out homes and infrastructure needed to support immigration targets and bring down home prices, addressing one of the nation’s most pressing issues. While we have years of catching up to do, the best time to start is right now. 

NEED TO KNOW

The week's headlines

🚅 A team composed of Ledcor, Dragados Canada and SYSTRA International Bridge Technologies has been selected as the preferred proponent to design, build and finance the elevated guideway and associated roadworks, utilities and active transportation elements of the Surrey Langley SkyTrain.

💵 The Canada Infrastructure Bank (CIB) has announced a $100 million loan participation agreement with the First Nations Bank of Canada (FNBC) for enabling infrastructure in First Nations, Métis, and Inuit communities.

🚗 To upgrade Alberta's roadways, bridges and water infrastructure, the provincial government has set aside $8.1 billion for its three-year capital plan, including funding for the long-awaited Highway 3 twinning project.

🏅 The Groupe Construction Pomerleau-Canam (GCPC) has been selected to dismantle and reconstruct the roof and technical ring of Montreal's Olympic Stadium. Quebec earmarked a budget of $870 million for this project in early February.

PROJECT SPOTLIGHT

Getting down to business

MacEwan University announced that Ledcor will lead the construction of its new, seven-storey School of Business building in Downtown Edmonton. The 376,700-square foot building will contain 30 classrooms, a simulated trading floor, 20 collaboration spaces and 15 study spaces. Officials estimate it will cost $190 million and open its doors in 2027.

PROJECT UPDATES

• Infrastructure Ontario releases Pape Station TOC plans

• Whitby Sports Complex secures $25M in funding

• Shovels in the Ground to Widen Highway 3

• Nova Scotia municipalities get $9M in federal housing money

• Vernon turns to IPD for Active Living Centre

WHAT WE’RE TALKING ABOUT

LIST: 🏗️ 6 experts who can break things down

READ: ⏳ Burnaby’s permit time improvements are being recognized 

PHOTOS: 🏠 This $6M Toronto home is a blast from the past

READ: 🎉 50M cubic yards of lower carbon concrete

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Here’s to a great rest of the week!