Halton Region posts positive fourth quarter results

Attracting and retaining jobs by providing information and services to assist in establishing or expanding businesses in Halton is a key priority in the Citizens’ Priorities Action Plan.  That’s why I was especially pleased to review Halton Region’s Economic Development 4th Quarter 2011 Report.  The report, presented to Halton Regional Council on March 28, 2011, provides Council with highlights of business investment and economic activity in Halton over the fourth quarter (October to December) 2011.

According to the report, Halton’s economic conditions showed improvement in the fourth quarter of 2011 with new investment, increases in construction values, and a slight drop in the region’s unemployment rate.

The report also noted:

  • Vaughan-based Calloway Real Estate Investment Trust, in partnership with Indianapolis-based retail developer Simon Properties Group, Inc., plans to build a 400,000 sq. ft. Premium Outlet Centre at Highway 401 and Trafalgar Rd.in the Town of Halton Hills, expected to attract over 2.5 million visitors a year.
  • The Government of Ontario announced that it will be investing $3.3 million in Oakville-based aircraft landing gear manufacturer Goodrich Corporation over the next five years, which should help add 31 new jobs and retain another 37 in Oakville, and support a more than $90 million R&D investment Goodrich is making over the next five years.
  • Construction of several multi-unit dwellings by Valery Homes in Milton contributed to the 86 per cent increase in residential construction values during the quarter, over the same period last year, as did a construction of a new, four-storey condominium on Upper Middle Road in Burlington.

Thanks in part to an increase in commercial investments, which included Siemens Canada’s new head office building in Oakville and a new parking garage at the Oakville GO Station, Halton’s total value of new construction and expansions climbed 63 per cent to just over $329 million during the fourth quarter compared to the same period in 2010.

The report also contains information about:

To learn more about the report and about Economic Development in Halton Region, dial 311, 905-825-6000, toll free 1-866-442-5866, TTY 905-827-9833 or visit www.halton.ca/business. You can find Halton Small Business on Facebook and on Twitter @HaltonEcDev, as well as Halton Tourism on Facebook and on Twitter.

If you have any Regional concerns or comments you would like to share, please feel free to email me at gary.carr@halton.ca. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “The Carr Report.”