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 delivered to your inbox.
Highlights from the 2017 Q4 Economic and Development Report:
Record-breaking construction activity
Halton achieved record-breaking levels of construction activity in 2017 for the second consecutive year, reaching $3.1 billion. During the final quarter of 2017, the total value of construction in Halton was $601 million, the highest fourth quarter level on record.
Several large-scale projects were initiated during the quarter which boosted overall construction value including:
- The new Sherwood Community Centre and Library in Milton ($38 million).
- Construction of a new six-storey residential and commercial mixed use building in Burlington ($35 million).
- Construction of two new distribution centres in Milton’s Highpoint Business Park ($18.8 million and $9.6 million).
Lowest unemployment rate in 12 years
The unemployment rate in Halton averaged 3.1% during Q4 2017, its lowest quarterly average since 2005. The unemployment rate in Halton was significantly lower than the national (5.7%), provincial (5.3%) and overall Greater Toronto and Hamilton area (GTHA) (5.0%) rates. Halton’s participation rate declined marginally year-over-year, but at 67.3%, the figure continues to exceed the national (65.6%), Ontario (64.7%) and GTHA (66.9%) rates. Visit our 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.