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Sault Ste. Marie ( "Soo Saint Marie") (nicknamed "the Sault" or "the Soo") is a city on the St. Marys River in Algoma District, Ontario, Canada. It is the third largest city in Northern Ontario, after Sudbury and Thunder Bay, with a population of 74,948.[
In the early 1960s and 1970s, Sault Ste. Marie was a booming town. However, as time passed and foreign imports became a vital reality of business success, the demand for the town's steel industry diminished. Since the late 1980s, Algoma Steel (Currently Essar Steel Algoma) had declared bankruptcy twice and laid off large numbers of workers. Most recently, Algoma (Essar) was bailed out by the Ontario government, which promised interest-free loans.
The company experienced a swift turnaround in 2004 from its earlier financial troubles in the 1990s, largely due to the rising costs of steel and the high demand for steel in China. Denis Turcotte, CEO, was named Canadian CEO of the year in 2006 for his efforts. An offer to purchase ASI by the Essar Group (India) had been recommended by the ASI Board of Directors and was approved. The company was officially sold to the Essar Group in June 2007 for $1.6 billion. Essar Steel Algoma is currently the most profitable steel company per unit on a global scale.
Forestry is also a major local industry, especially at St. Mary's Paper which has been reopened as of June 2007 under new ownership. Also related to wood products is Flakeboard Ltd., which employs over 110 people in the community along with an adjacent melamine factory which manufactures products with Flakeboard's materials. Such examples of this are furniture and cupboards where a finish is added to the product. Together both of Flakeboard's factories employ about 150 people. The Huron Central Railway is important to these local industries, too.
Furthermore, the business process outsourcing industry, with two call centres, Nucomm and Sutherland Global Services located within city limits employ about 1500 people. The largest employer of the two call centres is Sutherland Global Services. The call centre industry has become a large employer in Sault Ste. Marie which contributed to the economic turn around of the city in the late 1990s.
Another very large employer in the community is the Ontario Lottery and Gaming Corporation (OLG). The OLG has a corporate office located within the city on the waterfront and employs about 900 people in Sault Ste. Marie between the corporate office and OLG Casino Sault Ste. Marie. The prize centre used to reside within the city but was moved back to Toronto (York Mills) in 2009. Its role in Sault Ste. Marie has diminished, although only slightly; however, it is still the fourth largest employer next only to Essar Steel Algoma, Sault Area Hospital and the call centre industry.