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Dan Djurkovic
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©Copyright 2005-2008 Dan Djurkovic.
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With a plentiful and inexpensive source of hydroelectric
power via the waterfalls, many electro-chemical and
electro-metallurgical industries located here in the early to
mid-20th century.

Industry began moving out of the city in the 1970s and 80s
because of recession and increasing global competition in
the manufacturing sector. Tourism tightened its grip as the
city's most important economic engine. Niagara Falls Canada
It is a more popular destination than Niagara Falls New York,
in part due to the better view of the falls from the Canadian
side. Also, Ontario's drinking age of 19 (compared to the 21
drinking age in the United States) attracts many 19 and
20-year-olds from the United States to the bars on the
Canadian side.

In the mid-1990s the Ontario government introduced legal
wagering to the local economy with Casino Niagara. The
late-1990s witnessed an economic boom as numerous luxury
hotels and tourist attractions were built.

The first casino was followed in 2004 by the larger Niagara
Fallsview Casino Resort. Upon launching, the casino
business was successful in attracting American tourists due
to the then lower Canadian dollar. However, with the United
States Dollar now lower than parity, the Seneca Niagara
Casino open on the American side, and a casino facility
coming to Buffalo, New York, as well as impending passport
requirements on the American side, the local tourist economy
is not without potential problems.

Some of the many vacant buildings in the Queen Street
downtown area. The recent development has been almost
completely centred on the Clifton Hill and Fallsview areas.

The Niagara Falls downtown strip continues to suffer
considerable decay, with much of the Queen Street retail
area vacant. The downtown area was a major centre for local
commerce and night life up until the 1970s, when the
development of the Niagara Square shopping mall began to
draw away crowds and retailers. In 2006, New York City
based developer Aaron Lichtman proposed a major
investment in the area to encourage new retail development;
the proposal, titled Historic Niagara, remains dependent on
government funding of complementary services. As of
February 2007, the project appeared stalled.
Economy
    Niagara Falls
Real Estate Prices and Taxes - Comparison
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