With the lowest average unemployment rate of 4.4 per cent in the province and the strongest rate of labour force participation at 73.6 per cent in the country, Halton's economic outlook is healthy and strong.
These are only two highlights from three key reports presented to Regional Council on Wednesday, April 1, 2015: Achievements in 2014 under Halton Region's Economic Development Strategic Implementation Plan (SIP) 2012 - 2021; Economic Review 2014; and the Physician Recruitment Initiative 2014 Year End Report. The reports highlight some impressive Regional accomplishments in 2014 and show a positive economic outlook for the next several years in Halton.
The three reports build on Regional Council's approved economic development vision. We want Halton to be a preferred location for innovative businesses and entrepreneurs. More than any other municipality in Ontario, we offer a highly-skilled talent pool, quality infrastructure and a positive business environment, each of which contribute to sustainable economic prosperity.
Highlights of the three reports include:
- 4.4 per cent average unemployment rate for 2014 is the lowest in Ontario.
- 73.6 per cent labour force participation (those either employed or actively seeking employment) rate in Halton is the strongest in Canada.
- Significant progress with respect to strategic plans, planning approvals, and water and wastewater servicing for major employment areas in all four municipalities, ensuring Halton remains competitive and is ready for new investment opportunities.
- Creation of 94 new start-ups and 130 new jobs through multiple programs and services offered at the Small Business Centre; a contributor to this was the introduction of the new Starter Company program for youth entrepreneurs aged 18 - 29.
- Increased awareness and promotion of Halton agritourism industry through several events including the inaugural Food Tourism Summit, Pumpkin Trail and Harvest Halton, which attracted over 400 attendees.
- Halton's total building permit construction value of $1.53 billion increased 2 per cent over 2013 and nearly 14 per cent since 2011.
- 24 new family physicians (15 full-time and nine part-time) established practices in Halton in 2014.
To learn more about the accomplishments of Halton Region's Economic Development division or to read the report to Council, visit halton.ca/agendas.