Ontario Construction News staff writer
The Workplace Safety and Insurance Board’s (WSIB) head office is moving London, a move they say will save about $70 million annually for the WSIB which is currently located on Front Street in downtown Toronto – one of the most expensive real estate in the country.
The new office will open in 2025.
“Today’s announcement is fantastic news for the City of London and all of Southwestern Ontario, as our government brings thousands of good jobs and millions in investment to the region,” said David Piccini, minister of labour, immigration, training and skills development. “This common-sense move will allow the WSIB to save $70 million annually and focus on what matters most: delivering for injured workers and the 300,000 businesses across Ontario who rely on them.”
The announcement is the latest step the government has taken in modernizing the WSIB in addition to exploring raising compensation for injured workers while returning $1.5 billion to safe employers. WSIB cut premium rates in 2022 by $168 million, bringing the total reduction in premiums since 2018 to $8.5 billion.
“This is phenomenal news for London. The arrival of 2,000 high-quality, recession proof jobs will only further enhance London’s status as one of the fastest growing and most resilient economies in all of Ontario,” said Josh Morgan, Mayor of London. “I am grateful to the Government of Ontario for this commitment and commend them for taking the bold step of moving the WSIB’s head office to our city.
“The economic impact of this relocation is undeniable and wide-ranging. It will also provide spin-off opportunities to countless numbers of individuals throughout the region.”
The WSIB is one of the largest insurance organizations in North America, covering over five million people in more than 300,000 workplaces across Ontario.
