According to Halton’s most recent economic update, the region’s unemployment rate in the third quarter of 2014 (July-September) was 4.1 per cent – that is one of the lowest unemployment rates in all of North America. That’s great news and an indication that Halton Region’s 10-year Economic Development Strategy is right on track.
An important part of that strategy is bringing exciting, innovative and diverse businesses to our region. Last summer was proof that Halton truly is a great place to do business and below are some of the highlights:
- iFly Toronto opened its new indoor skydiving facility in Oakville (Winston Churchill & QEW) – the first of its kind in the Greater Toronto Area;
- The Government of Canada announced a $3.3 million investment in Communications and Power Industries Canada Inc. (CPI Canada) in Halton Hills;
- Burger King and Tim Horton’s (based out of Oakville) announced their planned merger (which will form the world’s third-largest fast-food company) and corporate headquarters is expected to be in Canada;
- A $30 million redevelopment of the RioCan Oakville Place that will include the first Pusateri’s Fine Foods in the West GTA and is expected to create approximately 150 jobs when it opens at the end of the year;
- The Town of Milton transferred 150 acres of land, valued at around $50 million, to Wilfrid Laurier University, endorsing Laurier’s plan to build a new university campus in Milton; and
- The Town of Oakville received a 2014 Google eTown Award, which recognizes the digital savviness of a community’s businesses.
Halton remains a hotspot for commercial and residential construction. Commercial retail and office construction increased 89 per cent, from almost $44 million to nearly $83 million, and the residential sector invested over $189 million, for a 22 per cent increase over the same period last year.
Not only are Halton businesses investing here, community organizations invested almost $30 million to ensure Halton remains a great place to live with the new Islamic Centre of Oakville investing $10 million; the addition to the Acton Arena investing $10 million; and renovations at the Hockey Training Academy in Oakville investing $6.3 million.
Whether it’s industrial, commercial or residential investment, Halton’s strong economy is thriving. Welcome to all the new businesses joining the Halton community and helping to grow our regional economy!
As always, if you have any Regional concerns or comments you would like to share, please feel free to email me at firstname.lastname@example.org. You can also find me on Twitter @garycarrhalton or on Facebook. To receive further updates on Regional issues, please subscribe to my quarterly e-newsletter, “The Carr Report.”