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 .