While economies across the world have continued to feel the effects of COVID-19, Halton Region’s 2021 Economic Review points to a positive future for the region’s economic growth and recovery.

With more people and companies choosing to call Halton home in 2021, we saw significant business investment, a marked increase in residential and commercial construction and an improvement in our unemployment rate compared to previous years. Halton’s recovery was bolstered by Halton’s in-demand, highly skilled and predominantly professional labour force and the many supports available, including financial relief programs and advisory services to help local businesses successfully navigate the many challenges brought on by the pandemic.

Halton has continued to be a great place to do business. Some highlights of our 2021 Report include:

• Total building permit construction value rose by 20 per cent to $2.4 billion approved for development.
• Commercial building permit values increased by 51 per cent in 2021 and industrial construction value rose by 17 per cent—driven largely by an increase in warehouses and distribution centres.
• Halton’s annual average unemployment rate was 6.5 per cent in 2021, compared to rates of 7.6 per cent for the GTHA, 8.3 per cent for Ontario and 7.7 per cent for Canada.

I also want to recognize and thank our local business community for their continued resiliency throughout the past two years of the pandemic. Despite not being able to gather in-person, Halton Region’s expert team of business advisors have been able to support businesses virtually throughout the pandemic and remain available to help businesses navigate local, Provincial and Federal supports and find opportunities to succeed in the changing economy. This included strategies to enhance digital presence, refine marketing tactics and keep in-person locations safe. Here are some Small Business Centre highlights from 2021:

• provided responses and supports to almost 6,000 inquiries;
• conducted over 1,000 one-on-one virtual consultations; and
• hosted more than 60 online workshops, webinars and events.

Our Global Business Centre has also provided assistance and guidance for those looking to export products and services to the U.S. and international markets, helping foster business creation and expansion in Canada and abroad. The centre continues to support businesses with consultations, referrals and resources needed to compete and grow on a global level.