Data Insights – 2016 Census Release on Income

Statistics Canada recent census release indicates strong growth in income levels across Halton since 2010, with the median household income increasing 12 per cent from $91,955 to $103,009 – a total increase of $11,054. The rate of income growth is comparable to the provincial rate of 12 per cent, but slightly below the national average of 15 per cent. After adjusting for inflation, Halton households still came out ahead, with median household income levels 39 per cent and 47 per cent higher than Ontario and Canada, respectively. Halton’s highly skilled labour force and low unemployment levels are undoubtedly contributing to these sizable differences.

September_26_Blog_Census_Income_Chart

The proportion of Halton households with median earnings over $100,000 increased from 45 per cent to 52 per cent since the last census, while household incomes under $40,000 decreased from 17 per cent to 14 per cent. Halton has a low rate of persons in low income at 8.2 per cent of the population based on Statistics Canada low-income measure after tax, which is lower than the Ontario and Canadian rates of 14.4 per cent and 14.2 per cent, respectively.

Oakville remains the wealthiest with a median household income of $113,666, followed by Halton Hills ($106,349), Milton ($104,730) and Burlington ($93,588). Five-year growth rates were led by Burlington and Halton Hills with 13 per cent increases, followed by 12 per cent in Oakville and nine per cent in Milton.

We’re here to help. Contact us  for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit halton.ca/datacenter

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Tickets now on sale for the 2017 Halton Futures Innovation Summit

halton-futures-2017-webbanner_origTickets are now on sale for the second annual Halton Futures Innovation Summit which is being presented by Haltech Innovation Centre and Halton Region Economic Development. The summit will be held on October 17, at the Oakville Conference & Banquet Centre. This year’s theme of Health.Tech.Connect focuses on smart, digital technology solutions that are enhancing patient health by transforming the delivery of health care services from the hospital ER to clinics.

From mobile devices, to cloud-based data analytics, Internet of Things (IoT), augmented and virtual reality, 3D modeling and printing and emerging artificial intelligence, technology can be leveraged to deliver smart, patient-centered healthcare.

halton-futures-2017-sonny_orig

Summit attendees will hear from an impressive list of healthcare leaders and technology experts, including:

  • Sonny Kohli, Co-founder and Chief Medical Officer at Cloud DX and Physician at Oakville-Trafalgar Memorial Hospital
  • Mark Walton, VP Strategy, Partnerships and Performance at Halton Healthcare
  • Nathalie LeProhon, VP Healthcare at IBM Canada

Join us as our knowledgeable panel of speakers discuss technology solutions for today’s healthcare challenges, and the progress being made to transform digital healthcare globally and here in Halton Region.

This event is for you whether you’re a technology entrepreneur, healthcare service provider, medical technology researcher, business leader or investor in this growing industry. Don’t miss this opportunity to be part of a change-making conversation that affects the future of healthcare for everyone, especially in Halton Region and neighboring communities.

Register early to reserve your seat at www.haltonfutures.ca – tickets are selling quickly! A handful of sponsorship, exhibitor opportunities, and corporate tables are still available for companies who want to be part of the conversation, show support for regional innovation, and enhance their visibility as a leader in Halton Region’s business and technology community.

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Data Insights – Halton’s Q2 Economic Performance

Q2 2017

Halton Region Economic Development issues a quarterly report that provides a snapshot of Halton’s economic performance with respect to development, labour force, and real estate markets. Sign-up here to receive the quarterly report in your inbox!

Economic growth in 2017 continues with the strongest second quarter of activity on record. Building permit construction values reached $850 million – a 54% increase over the same period last year. Halton Region is positioned for a second consecutive record-breaking year with 88% of 2016 construction values achieved in the first half of 2017, and already having exceeded seven of the previous nine years. Although a few substantial office and industrial developments were initialed, including work to the Parkway Logistics Centre in Halton Hills ($39 million), two-thirds of permit values issued were for residential developments totaling $563 million.

A strong labour market complements the high level of demand for construction. The unemployment rate achieved an all-time low of 4.2% since mid-2014 and the labour market participation rate increased for the fifth consecutive quarter to reach 72.1%. These indicators are significantly healthier than the Greater Toronto and Hamilton Area (GTHA) and Ontario averages, exemplifying Halton Region as the best place to invest. Visit the Data Centre for additional labour market statistics and historical data.

We’re here to help. Contact us  for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit halton.ca/datacenter

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Working to keep our local economy strong to ensure that Halton remains one of the best places to do business in Canada.

August Business Conditions SurveyNow through the end of September, Halton is conducting two surveys to collect up to date information about the state of Halton’s business climate and industry.

The Halton Business Conditions Survey asks local executives to provide information about current business and economic conditions.. The information gathered will help us to provide better informed initiatives and policies that support Halton’s business community.

Learn more and access the survey here: halton.ca/businesssurvey.

The Halton Employment Survey can be completed by a staff member that has knowledge about employee counts, type of employment and characteristics of business locations (building). The information gathered through this survey helps us to monitor the region’s economic activity, forecast land use patterns and implement land use targets.  We also use this information to support water, wastewater and transportation master plans.

Learn more and access the survey here: halton.ca/employmentsurvey.

We’re here to help. Contact us for assistance in expanding your business across Halton region. Explore our resource library to view a variety of reports, publications and videos.  For detailed statistics and historical trends, visit our data centre.

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Meet our Starter Company Plus grant recipients!

In April, the Halton Region Small Business Centre kicked off its Starter Company Plus program. After months of training and mentoring, participants delivered their business plans for review by one of our Business Consultants and a committee of local professionals and successful entrepreneurs.  They then eagerly waited to find out if they were one of the 10 finalists selected to pitch for the program’s $4,500 grant.

On June 20, 2017 our 10 finalists entered the judges’ quarters and made their pitch. The energy in the room was high; displaying passion and excitement, participant after participant shared their vision for their budding business. After three hours of pitches, the judges were left with the tough task of deciding which entrepreneurs would receive funding.

Once all the scores were calculated, 8 winners were selected:

  1. Deborah Jann – Roll Out Innovation
  2. Diane Mihalek – DCM Events
  3. Diane Mitchell – The Good Red Earth Soap Company
  4. Judy Duncanson – Kitali Human Capital
  5. Muhammad Farrukh – FRZ Consulting
  6. Pamela Woodworth – Performance Under Pressure
  7. Sarah Janson – Little by Little IC
  8. Susan Archer – Archer Academic

Continue reading

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Do you procrastinate?

July 11 checklist on smartphoneAre you a stressed business owner?   Do you put things off until tomorrow because you do not want to deal with them today?  You might be a procrastinator!

According to Vocabulary.com, “A procrastinator is a person who delays or puts things off — like work, chores, or other actions — that should be done in a timely manner.”

Did you know that the psychological thinking of putting things off until tomorrow can affect your quality of life?  It might clear up some time today but tomorrow you probably double booked yourself. Continue reading

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Data Insights – Halton exporters forecast strong growth

Nearly one in three Halton businesses exported products or services last year. Of these, 64% exported products, 21% exported services, and 15% exported both. Given Halton Region’s strategic location and proximity to major transportation corridors and the United States market – 40% of the United States market is within a day’s drive of Halton – it is an ideal location for businesses with export activities or intentions to access supply chains and customers.

The top 3 export engaged industries:

  • Manufacturing (34%)
  • Wholesale distribution (17%)
  • Professional and business services (15%)

The 5 largest export markets:

  • The United States (92%)
  • The United Kingdom (25%)
  • Mexico (21%)
  • China (17%)

Halton exporters are strong performers. Almost half of exporters were expecting to see increased profits this year and over a third anticipated hiring additional staff. Halton exporters are also more innovative with 49% making productivity investments over the past year and 82% planning productivity investments in 2017.

Multinationals

Halton is helping local companies take advantage of international markets, scale-up and go global! In partnership with The Ontario Ministry of International Trade, we are presenting Ontario’s AIM “Accelerate to International Markets” Program on June 27 and 28 in Burlington. This program will provide the opportunity to learn about market research, entry strategies, mitigating risk, and logistics. In addition, exporting experts from the The Ontario Ministry of International Trade will be available to speak to one-on-one with participants. Please click here to register.

We’re here to help. Contact us for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. Explore our Resource Library to view a variety of reports, publications and videos.  For more detailed statistics and historical trends, visit our Data Centre.

Stay up-to-date! Sign up to receive the latest economic development information in your Inbox.

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