Keeping Halton’s economy healthy and strong

Halton Region is committed to supporting a healthy and sustainable economy. When businesses locate in Halton, they are choosing one of the best places to do business in Canada. Businesses in our area benefit from a deep talent pool of professionals, proximity to leading educational institutions, easy access to major markets and a high quality of life that is second to none.

According to Halton’s Economic Development – Economic Review 2015, the Region’s economy remains strong. The report provides a comprehensive overview of Halton’s current economic activity and real estate development while highlighting some key accomplishments and detailing Halton’s competitiveness in comparison to the surrounding area.

Some key highlights of the 2015 Economic Review report include:

Strong Labour Market

  • Residents in the region are among the most educated in Canada. In 2015, the unemployment rate in Halton averaged 5.3 per cent, significantly lower than both the provincial rate (6.8 per cent) and national rate (6.9 per cent). Halton’s labour force participation rate was 70.4 per cent, well above the provincial and national averages.

Non-residential development

  • Halton’s total building permit construction value was $1.79 billion, an increase of 17.4 per cent over 2014 and nearly 33.5 per cent since 2011. Nearly 5.07 million sq. ft. of employment development floor area was constructed in 2015, an increase of 89 per cent over 2014.

Residential development

  • Halton’s housing resale market also remained strong for the last decade with sales increasing 186 per cent since 2005, and resale house prices rising 68 per cent to just over $665,000 on average in 2015.

New business developments

  • There were a number of major Halton-related business developments in 2015, including the new state-of-the-art 1.6 million sq. ft. Oakville hospital, the official opening of the new 1.3 million sq. ft. Lowe’s Canada’s Distribution Centre in Milton, a new $12.8 million industrial development by Cogent Power in Burlington, and a $26 million investment by Broccolini Construction Inc. for a new warehouse building in Halton Hills.

The annual Economic Review continues to be an important vehicle for documenting and explaining the significant economic and business investment activity that is taking place across the region. Whether it’s industrial, commercial or residential investment, Halton’s economy continues to thrive, demonstrating another reason why Halton is such a great place to live, work, raise a family and retire.

As always, if you have any Regional concerns or comments you would like to share, please feel free to email me at gary.carr@halton.ca. 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”.