Data Insights – Halton’s Q1 Economic Performance

Q1 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!

Highlights from Halton’s economy during the first quarter of 2017 include: 

Record-breaking construction activity continues into 2017

Following record-breaking construction activity in 2016, building permit construction values in Halton exceeded $1 billion during the first quarter – a level not typically reached in the region until the year end. This represents a 142% increase in building permit construction value over the same period last year. Although a few substantial industrial and office building projects, along with a new operations building at the Oakville GO Station ($42 million) were initiated, permits were primarily issued for major residential developments which has boosted Halton’s overall value. Residential construction totaled $855 million during the first quarter of 2017, representing a 185% year-over-year increase.

Here are a few examples of the residential projects currently underway:

 

Halton’s unemployment rate averaged 4.4% during the first  quarter of 2017 – a 0.3 percentage point decline over the previous quarter and a 0.1 pp decline compared to the same period last year. Halton’s unemployment rate remains significantly below the overall Greater Toronto and Hamilton area (GTHA) average of 6.3% and the provincial average of 6.2%.  Meanwhile, Halton’s labour market participation rate has increased 3.4 pp year-over-year to reach 69.6% of the working-age population. This is notably higher than the GTHA or provincial averages which stood at 64.9% and 64.3%, respectively. Visit the Data Centre for additional labour market statistics and historical data. Continue reading

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Halton Region Economic Development and the Toronto Real Estate Board (TREB)

IMG_20170510_100427Halton Region Economic Development and the local municipal economic development offices of Burlington, Halton Hills, Milton and Oakville, had the opportunity to present and exhibit at the Realtor® Quest Trade Show and Conference on May 10th – 11th, presented by the Toronto Real Estate Board.  The Halton team was joined by thousands of real estate professionals and 250 exhibitors.

If you are in the real estate industry, Halton Region offers many exciting residential and non-residential opportunities, services and resources.  As one of Canada’s fastest-growing regions, Halton is one of the best places to live and work in Canada. With prime land development opportunities, a highly skilled workforce, proximity to major markets, and exceptional lifestyle choices, Halton offers a competitive location.

What makes Halton Region attractive to your clients?

  • Population is expected to exceed 1,000,000 by 2041!
  • Median age is 39.3 years
  • 74% of Halton residents have post-secondary education
  • Halton has the lowest crime severity and violent crime severity indexes of any Canadian municipality with more than 100,000 residents. Access to markets: 10 million people live within a 1-hour drive
  • Halton hit an all-time high in 2016 with $2.1 billion in total construction value
  • Halton has more than 1,500 acres of serviced “investment-ready” employment lands
  • Competitive land and development costs
  • Halton’s residential market reached a record $1.3 billion in building permit value
  • Average house price in Halton is $803,869 – lower than the City of Toronto and other neighbouring regions
  • New post-secondary campus locating in Milton to feature housing, employment opportunities, recreational services and other amenities for up to 15,000 students, residents and businesses
  • Overall Canada’s Best Place to Live according to Profit and MoneySense: Burlington #2, Oakville #3, Halton Hills #23, Milton #36

How Can We Help You?

If you are a real estate agent, broker or developer, Halton Economic Development offers many services and resources to assist you and your clients make the best decisions about locating in Halton Region:

  • Data Centre – Get information and data on demographics, business characteristics, residential real estate, employment/labour statistics, and much more! Visit us online to explore the data centre files. Can’t find the data you’re looking for?  Submit a request for a Custom Report.
  • Halton Sector Heat Maps – These interactive, Google-based maps serve as a database of businesses in the Advanced Manufacturing, Financial Services and Information & Communications Technology sectors within Halton Region.
  • Resource Library – Explore our Library to get a clear picture on development and economic activities, and results from Halton business surveys. Sources include economic reports, a wide variety of publications and videos. Check out our virtual tour of Halton Region! Sign-up to receive Economic Development Updates, including our quarterly newsletter and annual report.
  • Site Selection – Explore business parks and available commercial and industrial properties in Halton Region. Whether your business is looking to expand or relocate, there are many real estate options for sale, lease or build. Visit our local municipal economic development offices for additional information and to explore their interactive online site selection tools. Need a tour?  Halton Economic Development can arrange site visits for clients and investors.

Halton Region Economic Development is proud to work closely with our local real estate community to help people and businesses find their ideal location.  We encourage you to visit us in-person or follow us online to receive economic updates and get more information about current and upcoming plans for commercial and residential real estate development in the City of Burlington, Town of Halton Hills, Town of Milton and Town of Oakville.

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What’s in a Name?

Halton Business Blog

A name is important to a business. It is the foundation on which you willYour business name here build a “brand”. Your name will be spread by your loyal customers and allies. The identity of your business will allow you to emotionally connect to your idea as a real entity in the market. Names are valuable – that’s why many of our clients are surprised when we tell them that registering a business name on the ServiceOntario.ca website does not in itself give the entrepreneur exclusive use of the name. It would seem logical that participating in a process call “Register a Business Name” would give you some kind of exclusivity or claim over the name, however, the process will technically print out more than one licence in the same name.

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Student Entrepreneurs – Start Your Business with the Summer Company Program!

Summer CompanyAre you a student aged 15-29 and returning to school this fall? Register for Summer Company 2017 offered through the Halton Region Small Business Centre. The deadline for applications is May 6 and there are still a few spots available.

Summer Company is an excellent program that provides students with real world experience starting and running their own summer business.  Along with an opportunity to obtain up to $3,000 grant money, students benefit from the guidance of our experienced business consultants along with volunteer mentors from the community.  In the past, students have told us that the regular mentor meetings were their favourite part of the program because it gave them the opportunity to connect with fellow participants and receive valuable advice from the mentors.

Many of our past participants have been able to continue to run their businesses after graduation and even throughout the school year to supplement their income.

Meet Corey Hudson who participated in the Summer Company Program in 2014.  Through Summer Company, Corey started Ambient Auto Canada and went on to win $20,000 in the 2015 Pythons’ Pit pitch competition.

Watch this video to find out how the Summer Company program helped this enterprising student start his business:

Corey Hudson

 

Summer Company is funded by the Province of Ontario. If you would like to learn more about this program, check eligibility requirements or apply online, visit ontario.ca/summercompany.

For more information about Halton Region’s Small Business Centre resources, services, business events and seminars, contact us by dialing 311 or 1-866-442-5866, visiting us online at haltonsmallbusiness.ca, emailing at smallbusiness@halton.ca or visiting us at 1151 Bronte Road, Oakville. You can also follow us on Twitter and find us on Facebook.

 

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Data Insights -2016 Halton Region Employment Survey Results

Employment survey resultsJust released! The 2016 Employment Survey Results Report provides a comprehensive overview of businesses and jobs in Halton in 2016, along with highlighting industry sector composition, business trends, job growth, community profiles, exports and innovation.

Highlights:

2016 employment survey business characteristicsBUSINESS CHARACTERISTICS

  • Halton was home to 13,287 businesses in 2016 – up 0.2% from the previous year.
  • 1,080 businesses started up or relocated to a new location in 2016, while 1,052 businesses either relocated from their current location or ceased operations.
  • The majority (70%) of Halton’s businesses have 10 or fewer employees.
  • Nearly 2 in 5 businesses in Halton are in the retail, general services, or accommodation and food services sectors.
  • 4% of Halton businesses reported exporting their products or services in 2016 and 6% of businesses were involved in research & development activities.

Continue reading

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Foodiepreneur – The Business of Food

IMG_20170328_092007 (4)On March 28, the Halton Region Small Business Centre ran its first networking and learning event for Halton entrepreneurs in the food business.

Local spotlight speakers Tess Gonzales, founder of Bread ‘N Batter and Raadiya Mohamed of Big Grill Shawarma & Kabob shared their personal experiences with close to 80 entrepreneurs in attendance about starting and operating their successful food businesses in Halton.

Attendees also learned valuable information about food safety, rules, regulations, licensing and permits for businesses in the food industry.  They also had the opportunity to ask questions from a panel of experts about funding opportunities, programs and how to connect to local farmers.

If you have a great idea for a food business or are looking to grow your food business, please contact us.  We can help you get the information you need and connect you with experts to help your business start and grow Halton.

If you want to talk more about starting a food business, call us and book a free business consultation. We are here to help you. One of the goals of the Centre is to empower small and medium-sized enterprises and give you the tools to achieve success.

For more information on Halton Region’s Small Business Centre resources, services, business events and seminars, contact us by dialing 311, toll-free at 1-866-442-5866,  by email at smallbusiness@halton.ca  or visit us at haltonsmallbusiness.ca or in person at 1151 Bronte Road, Oakville. You can also follow us on Twitter and find us on Facebook.

 

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Data Insights – 2016 Halton Region Economic Review

2016 Economic Review_Page_01Just released! The 2016 Halton Region Economic Review provides a comprehensive overview of Halton’s economy and real estate development during the past year, along with highlighting Halton-related business news, employment servicing progress and Halton’s competitiveness within the Greater Golden Horseshoe Area.

Highlights:

DEVELOPMENT ACTIVITY

  • Halton’s total building permit construction value in 2016 was a record-setting $2.14 billion, an increase of 19% over 2015
  • Non-residential construction value made up nearly 40% of total values at $832 million, an increase of 21% over 2015
  • Commercial and institutional construction values increased 33% and 42% respectively to $369 million and $399 million
  • Relative to its 2016 population, Halton experienced the second most active development market in the GTA in 2016 at $3,907 in total construction value per resident, a 9% increase over 2015

We have been looking for a long time to find the right site in Southern Ontario that had rail and road access to the GTA. We are very excited about this project and its location and we are looking forward to attracting new business to Acton.” – Vice President of Futura Properties Ltd

LABOUR FORCE

  • Halton’s average unemployment rate for 2016 was 5.5%, lower than the Provincial rate of 6.6% and the Canadian rate of 7.0 per cent.
  • Halton’s labour force participation rate was 67.1%, higher than the GTA average of 66.6% and well above the Provincial and National averages

Continue reading

Posted in Announcement, Data Insights, Economic Development, Halton building permits, Halton commercial real estate, Halton economic performance, Halton industrial real estate, Halton labour market, Uncategorized | Tagged , , , , , , , , , | Leave a comment