On Wednesday, April 1, 2015, Halton Region’s 2014 Economic Review was presentedto Council. This annual publication presents an overview of business investment in our region and highlights our performance from an economic development standpoint. I am pleased to report that the 2014 Review indicates a positive economic outlook for Halton Region for the next several years.
A strong regional economy is essential to supporting the high quality of life and excellent public services that Halton residents have come to expect from their Regional government. As outlined in the Region’s Strategic Action Plan 2015 – 2018, one of our six strategic priorities is “Growing the Regional Economy.” The 2014 Economic Review has provided us with some very clear indications that Halton Region’s economy is growing and heading in the right direction:
- Halton Region had Ontario’s lowest average unemployment rate at 4.4 per cent.
- Halton had the strongest labour force participation rate (employed or actively seeking employment) in Canada at 73.6 per cent.
- Over $1.5 billion was invested in new construction and expansions across the region — a 2 per cent increase over the previous year and up 14 per cent since 2011.
- Halton had the highest per capita construction value across the Greater Toronto and Hamilton Area (GTHA) in 2014, topping the chart at just over $3,000 in construction value per resident.
- Ninety-two per cent of Halton-based businesses indicate that economic conditions in Halton will improve or remain the same over the next 12 months.
- Significant progress was made in 2014 to ensure the Region’s employment lands are serviced and ready for investment, including: the Employment Lands Study (Burlington), Derry Green Corporate Business Park (Milton), Halton Hills Premier Gateway and Winston Park West (Oakville).
By 2021, we want Halton to be a preferred location for innovative businesses and entrepreneurs who need highly skilled talent, quality infrastructure and a positive business environment in order to contribute to sustainable regional economic prosperity. These accomplishments show we are on the right track.
To find out why Halton is a great place to live, work and locate a business, visit the newly-launched Invest in Halton web pages. There you will learn more about what each of our Local Municipalities have to offer, why successful business owners chose Halton, and the data that supports our strong economic activity.
To read the full 2014 Economic Review,please visit halton.ca/economicresources.
As always, if you have any Regional concerns or comments you would like to share, please feel free to email me at email@example.com. You can also find me on Twitter @garycarrhalton, LinkedIn or Facebook. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “the Carr Report”.