The 2017 Economic Review was presented to Regional Council last week. This year’s review revealed that Halton continues to be a premier place for business investment and economic opportunity.
“The Region’s low taxes, access to major markets and excellent support services make Halton an attractive place for business investment, big and small,” said Halton Regional Chair Gary Carr. “When businesses choose to locate in Halton they are also selecting a home base that is one of the best places to live.”
The annual Review measures the economic pulse of the region and provides an economic outlook that helps to guide future planning decisions. This includes key indicators such as employment, construction development and business investment. Below are some highlights from the review:
- Halton’s unemployment rate decreased to 4 per cent, well below the provincial and national averages of 6 per cent and 6.4 per cent, respectively.
- Halton residents are among the most educated in Canada, with 75 per cent having attained a post-secondary education.
- Construction values rose from $2.1 billion in 2016 to $3.1 billion in 2017:
- Industrial development values increased from $64.4 million to $117.4 million,
- Commercial development values increased from $368 million to $467.8 million,
- Residential development values increased from $1.3 billion to $2.2 billion.
- Three sites in Halton Region have been shortlisted in the Toronto Global bid for the Amazon second headquarters (HQ2):
- Highway 401 Fronting Lands in Milton’s Derry Green Business Park,
- Trafalgar Road and Highway 407 in Oakville,
- Bronte Meadows employment area in Burlington.
- Other national and international companies have taken notice and are investing in Halton:
- Bradford-White Canada opened its 75,000 sq. ft. distribution and training centre last year.
- Kraft Heinz Company announced a new distribution centre in Halton Hills, bringing more than 150 jobs to the region.
- Magna’s two automotive parts plants in Milton expanded in 2017.
- Oakville’s Geotab was named one fastest growing telematics technology businesses in North America.
- Finland-based robotics company, Orfer, chose Burlington’s TechPlace as its North American location.
To learn more about investment opportunities in Halton, please visit halton.ca/invest. There, you will find the full 2017 Economic Review, receive information on how to connect with one of our business consultants or learn about why Halton is a great place to live, work, and invest. You can also follow @haltonbusiness on Twitter, Facebook and LinkedIn for ongoing updates and information.
The Regional Municipality of Halton serves more than 550,000 residents in the City of Burlington, the Town of Halton Hills, the Town of Milton, and the Town of Oakville. Halton Region is committed to meeting the needs of its residents through the delivery of cost-effective, quality programs and services, including water and wastewater; Regional roads and planning; paramedic services; waste management; public health; social assistance; children’s and seniors’ services; housing services; heritage programs; emergency management and economic development. For more information, call 311 or visit Halton Region’s website at halton.ca.