Economic Review 2012

Transcription

1 Economic Review 2012

2 Halton Region at a Glance Date of Incorporation: Land Area: Lake Ontario Shoreline Frontage: Greenbelt Area: Employment Land Supply (Vacant and Occupied)*: Population**: square kilometres 25 kilometres 42,330 square hectares 5,610 net hectares (3,248 net hectares developed, 2,362 net hectares vacant) 505,678 (2012 estimate), 624,094 (2021 projection), 752,537 (2031 projection) Labour Force***: 310,906 (2012 estimate) Businesses****: 12,211 (2012), 12,120 (2011) Employment**: 258,444 (2012 estimate), 327,683 (2021 projection), 390,000 (2031 projection) Average Household Burlington $115,078, Halton Hills Income***: $124,529, Milton $117,840, Oakville $151,893 (2012 * Watson & Associates, Investment Readiness and Competitiveness Study, January 2012 ** Halton Region, Best Planning Estimates, June 2011 estimates) *** Financial Post Markets, Canadian Demographics, 2012 **** Average Halton Region Retail Employment Survey, 2011 and 2012 Sales per Household***: Annual Budget (2012): $35,693 (2012 estimate) Halton Region s 2012 gross operating budget was $732.4 million, of which $602.5 million was related to Regional Services ($439.1 million tax budget and $163.5 million rate budget) and $129.9 million was related to Police Services. The 2012 gross capital budget totalled $689.9 million. * Watson & Associates, Investment Readiness and Competitiveness Study, Jan ** Halton Region, Best Planning Estimates, June 2011 *** Financial Post Markets, Canadian Demographics, 2012 **** Halton Region Employment Survey, 2011 and 2012

3 Message from Halton Regional Chair Gary Carr On behalf of Halton Regional Council, I am pleased to present Halton Region s 2012 Economic Review. This comprehensive annual publication presents an overview of business investment in Halton Region and highlights the accomplishments made in delivering on the Region s 10 year Economic Development Strategic Implementation Plan. This past year was one of both challenges and opportunities. I am pleased to report that working with staff, Regional Council and our Local Municipalities, we have made the most of our opportunities and have delivered some impressive results: A triple-a credit rating for over 20 consecutive years An average tax increase of zero per cent for seven years in a row, one of the best records in Canada Being named the safest regional municipality in Canada for four consecutive years A 98 per cent resident satisfaction rating with Regional services, a significant 22 per cent higher than the Ontario average. 175 per cent increase in Industrial, Commercial, Institutional (ICI) building permit values. More and more businesses, such as Target, Siemens, Lowes Canada and UPS are choosing to call Halton home. Combined, these four companies will bring more than 2,000 jobs to the Region. This past summer, PricewaterhouseCoopers (PwC) LLP confirmed their West GTA office would be located in First Gulf s LEED certified mid-town Oakville office development, Toronto Premium Outlets started construction in Halton Hills and video gaming leader Rockstar Games expanded their operations in Oakville, all contributing to Halton s record level of new ICI development. Halton truly is a hotspot for businesses. Other 2012 highlights include: Halton Region Small Business Centre s work with young entrepreneurs to help them start and grow their own businesses through Summer Company and Canadian Youth Business Foundation (CYBF), the continued positive results of the Region s Physician Recruitment program, the introduction of social media to promote the Region s tourism offerings, a very successful Halton Real Estate Forum in Milton with more than 200 attendees and the launch of a new online data centre to support corporate site location decisions. In my conversations with business leaders over the past year, I heard a common theme. Again and again, businesses articulated that they chose to locate in Halton because of the Region s high quality of life. Employees are a business most valuable asset, and Halton is the place their employees want to live. My thanks go out to everyone who has contributed to our efforts over the past year including staff, elected officials and our community partners. I invite you to read on and learn more about Halton Region s economy and why Halton is such a great place to live, work, raise a family, and retire. If you have any questions or comments, feel free to contact us by dialing 311, or by ing me at gary.carr@halton.ca. Gary Carr Regional Chair

4 Investment Attrac

5 Investment Attraction & Retention Investment Attraction & Retention tion & Retention

6 Investment Attraction & Retention Halton Region s Economic Development Strategic Implementation Plan included a number of initiatives in 2012 to position Halton as a preferred location for business including: evaluating Halton s current investment readiness and competitiveness, establishing critical relationships with key investment decision influencers, and ensuring that essential investment location decision information is readily available to our stakeholders and partners as well as potential investors. The following highlights the Region s key 2012 achievements in these efforts. Investment Readiness and Competitiveness Study On February 29, 2012, Halton Regional Council approved the Regional Municipality of Halton Investment Readiness and Competitiveness Study, prepared by Watson and Associates Economists Ltd. The consulting study, which helped inform the Region s recently approved Economic Development Strategy and the Region s new Development Charges By-law, which went into effect in September 2012, provides Council with an overview of the attributes of the key existing and designated employment areas in Halton and a detailed cost competitiveness comparison of the cost of constructing office and industrial development in Burlington, Halton Hills, Milton and Oakville with over 20 communities in the Greater Golden Horseshoe (GGH) area. Developing Critical Relationships Hills, Milton and Oakville. The session featured a keynote address and two panels who provided their perspectives on the state of the industrial and commercial office real estate markets. A key message voiced by the speakers was that Halton is indeed a location of choice a great place to live and work and is definitely on the radar screen for forward thinking businesses. Keynote speaker Sheila Botting, Partner & National Leader, Deloitte Real Estate, discussed changing demographics, productivity and how the real estate game is changing. Commercial real estate can be a catalyst for growth in our economy, said Ms. Botting. Office panelists John Arnoldi (Colliers International), Dave Carreiro (First Gulf Corporation) and Chris Holtved (Pauls Properties Corp.) along with Wayne Walton (Sun Life Financial), Ken Nevar (Cooper Construction) and John McCall (Oxford Properties Group) indicated that Halton is a big part of their respective businesses, agreeing that land availability is greater and operating costs and taxes are lower than other areas in the GTA. Halton is at the stage of its development where it has hit escape velocity, noted Chris Holtved. Like tenants want to be near like tenants we are seeing that with financial and professional Halton is services companies such as Siemens, Canadian a hotspot Tire Financial Services, for business PricewaterhouseCoopers, all choosing Halton. investment. John Arnoldi echoed this sentiment, noting Halton is a hotspot for business investment. Ken Nevar noted that Halton is also uniquely positioned to attract large industrial development by virtue of its location near major transportation corridors and the availability of serviced industrial land, as evidenced by the recent Target and First Gulf/Sun Life Financial developments. 6 Halton Hosts Real Estate Forum On November 8, 2012, more than 200 industrial, commercial developers and real estate brokers from the Greater Toronto Area (GTA), along with Regional and Local Municipal elected officials and staff, attended Halton Region s Real Estate Forum for an update on the industrial and commercial real estate market in Halton and the GTA. The third annual event was presented by Halton Region Economic Development in partnership with the Burlington Economic Development Corporation (BEDC) and the economic development offices at the Towns of Halton

7 Halton and Local Municipalities Host Familiarization Tour for the Ministry of Economic Development, Trade and Employment On November 20, 2012 Halton Region Economic Development, together with its Local Municipal partners hosted staff from the Ministry of Economic Development, Trade and Employment (MEDTE), and representatives from the Greater Toronto Marketing Alliance and HalTech, at the DeGroote School of Business in Burlington. The Halton awareness-building session commenced with greetings from Halton Regional Chair Gary Carr, and a presentation from Halton Economic Development Director, John Davidson showcasing Halton s economic development strategy, economic conditions, real estate development opportunities, and industry sector activity. The session included guided driving tours of Halton s significant employment areas, and office/plant tours of several of Halton s key companies in the Advanced Manufacturing, Information Communications Technology (ICT) and Life Sciences sectors. The familiarization tour provided an opportunity for MEDTE staff to better understand Halton s thriving and innovative business environment and investment opportunities. Greater Toronto Marketing Alliance The Greater Toronto Marketing Alliance (GTMA) is Halton Region s strategic Foreign Direct Investment Attraction partner. The GTMA represents the GTA municipalities in international markets, meeting one-on-one with prospective investors to promote the GTA as a location of choice for business and provide assistance through the site selection process. In 2012, the GTMA focused their activities in countries that have traditionally been the largest source of foreign direct investment (FDI) for Canada, including the United States, Germany, France and the United Kingdom along with the emerging market economy, Brazil. The GTMA s targeted sectors of ICT, Digital Media, Financial & Business Services, and Advanced Manufacturing/Food Processing align closely to those of Halton Region results include: 429 Leads generated from trade shows, conferences, lead generation programs 14 Requests for Information site selection requests involving the GTA municipalities including Halton 34 Prospects qualified investors who visited the GTA and were serviced by the GTMA and its public and private sector partners 11 New Investments in the GTA None of the 11 new investments in 2012 facilitated by the GTMA were located in Halton. Toronto and Mississauga received most of these investments. Also in 2012, the GTMA embarked on its Roadmap to Revitalization strategy with a goal to boost senior level of government support for the organization and greater regional cooperation in FDI attraction across the GTA. The organization s new direction is expected to be announced in summer Halton Welcomes Delegation from Liaoning Province in China On September 6th, Halton Region and Oakville Mayor Rob Burton welcomed a delegation from Liaoning Provincial Government of the People s Republic of China. Delegates attended presentations about Halton s economy, key industries, sustainable economic and planning policies as well as Halton s entrepreneurship and innovation services. The meeting ended with a discussion around opportunities for synergies and collaboration. Site Location Information Halton Economic Development Launches New Online Data Centre In November 2012, Halton Economic Development launched its new online regional data centre and enhanced site location webpages. The data centre provides a central online resource location for economic research and investment information. These new pages include a wealth of data and information regarding: Development Activity, including building permits, construction values and trends Economic Activity, including economic indicators and bankruptcy Demographics Labour Force Industries Taxes and Utilities Visit and check out this one stop shopping resource for Halton business and development related data. 7

8 Investment Attraction & Retention New Investment Highlights This section highlights major 2012 announcements including company investment and expansion announcements, as well as significant new development projects and institutional investment announcements across each of Halton s municipalities. Halton Hills Toronto Premium Outlets Retail Centre 8 Burlington L3 Wescam Expansion The federal government awarded a $10-million contract to Burlington's L3 Wescam to provide routine maintenance, overhaul and other support for surveillance equipment on the Royal Canadian Air Force's fleet of helicopters for the next three years. According to L3 Wescam president John Dehne, as a result of the contract and ongoing business requirements, the company expects to hire as many as 90 people this year. New positions will include engineers, project management staff and supply chain specialists. Halton McMaster Family Health Centre On January 26, 2012, the City of Burlington, Halton Region, McMaster University and Joseph Brant Memorial Hospital announced the selection of Joseph Brant Memorial Hospital as the preferred site for the Halton McMaster Family Health Centre. The Family Health Centre is part of the Halton McMaster partnership that in 2009 saw the City and the Region committing $10 million over 10 years to McMaster University to construct the DeGroote School of Business at the Ron Joyce Centre in Burlington and the establishment of a teaching affiliation between McMaster s Department of Family Medicine and Joseph Brant Memorial Hospital. The Family Health Centre will help to attract new family physicians to Halton and give more residents access to a family doctor. The Family Health Centre will comprise two floors totalling 15,000 square feet (1,394 square metres) and will be operational at Joseph Brant by the end of On April 26, 2012 Halton Region and the Town of Halton Hills were on site for a ground-breaking ceremony celebrating the start of construction of the Toronto Premium Outlets retail centre located at Steeles Avenue and Trafalgar Rd. just north of Highway 401. The new outlet centre is expected to create more than 500 full and part time jobs in addition to hundreds of local construction jobs. Moreover, the retail centre is expected to be a significant destination for the Town of Halton Hills and Halton Region bringing in more than 2 million visitors per year from across the GTA, southern Ontario and beyond. The first phase of the planned 500,000 square foot outlet centre will open in summer The centre will house over 100 high quality outlet stores and is expected to be the Canadian entry point for selected U.S. retailers and designer brands. Toronto Premium Outlets is a joint venture between Simon Property Group, Inc., a retail real estate company, and Calloway Real Estate Investment Trust. New Industrial Building: 8041 Fifth Line On October 11, 2012 Dave Carreiro of First Gulf Inc. and Wayne Walton of Sun Life Financial hosted an open house for Commercial Real Estate Brokers at their new project located at 8041 Fifth Line in Halton Hills. The 435,000 sq. ft. building, currently under construction and available for lease, is one of the largest in Halton Hills and features a

9 strategic location close to Highways 401 and 407. First Gulf has built seven buildings in the Halton Hills 401 Corridor totalling 1.5 million sq. ft. and which house over 400 employees. Phoenix Contact Canadian Headquarters Patlon Aircraft & Industries Limited Expansion On November 30, 2012, the Department of National Defence awarded Halton Hills-based Patlon Aircraft & Industries Limited a $6.6 million contract to improve life-saving chemical detector training for the Canadian Armed Forces. The company will supply a simulator system that will be used to train Canadian Armed Forces personnel in the use of new portable devices that detect chemical warfare agents and toxic industrial chemicals during military operations. This contract will support approximately 10 high skill jobs at Patlon s Halton Hills facility. Milton On June 18, 2012, Phoenix Contact, a world leader in industrial connection, interface and automation technologies, officially opened its new two-storey, 25,000 square foot Canadian headquarters in Milton. The state-ofthe-art facility houses a warehouse, office and lab space, and offers training and proof of concept testing, as well as an extensive showroom and exhibition area. The company currently employs 45 people and is looking for skilled and educated workers to join their growing team. Milton s Velodrome Lowe's Canada Distribution Centre On August 1, 2012 Halton Region and the Town of Milton were on hand for a ground-breaking ceremony to celebrate the start of construction of Lowe's Canada s Distribution Centre at 3333 James Snow Parkway (West of Hwy. 25) in Milton. The new 626,000 sq. ft. Canadian Distribution Centre is expected to provide more than 500 full and part-time jobs plus local construction jobs. Lowe s Canada has entered into a long-term arrangement at the Milton site and has the capacity to expand the Distribution Centre by an additional 175,000 sq.ft. Early in 2012 Milton released plans for a proposed velodrome that will host cycling events for the Toronto 2015 Pan/Parapan American Games. Already known for its road cycling, trails and BMX track, the addition of the velodrome will make Milton a cycling destination offering a variety of recreational options for cycling enthusiasts and attracting visitors from around the globe. The proposed velodrome is a 250-metre oval cycling track with banked corners, event seating for 2,500 and 1,500 permanent seats. The $40 million facility will be built to LEED standards and will be located within the Milton Education Village. The velodrome will be home to Cycling Canada s High Performance Track Program. Construction of the velodrome is expected to start in spring

10 Investment Attraction & Retention 10 Gordon Food Service Expansion Nearly doubling the size of their current facility located at the corner of James Snow Parkway and Regional Road 25, Gordon Food Services will be adding a new 172,000 square foot warehouse. As the largest family-owned foodservice distributor in North America, Gordon Food Service has seen two previous expansions at this location since it opened in The latest expansion will create 80 new positions to the company s current staff of 450 employees. Earlier this year, Gordon Food Service was named one of five organizations recognized by Ontario s local Food Champions Report for incorporating local foods into their menu and implementing a team to head a Local Food Strategy. The Canada wide-company produces 800 local products for distribution. Target Distribution Centre Completed In November 2012, Cooper Construction completed the 1.32 million sq.ft. distribution centre at Boston Church Rd. and Highway 401 for Target Corporation as it launches into the Canadian retail market in the first quarter of The Distribution Centre is managed by Eleven Points Logistics, a third party logistics company, which held a successful job fair for the Milton Distribution Centre in September Target has room on the Milton site for an additional 200,000 sq.ft. to accommodate future growth. Oakville First Gulf's New LEED Gold Office Development: PwC Canada On May 29, 2012 Halton Region and the Town of Oakville celebrated the ground-breaking of First Gulf Corporation's new LEED Gold office development located on Davis Road, just east of Trafalgar Road and steps away from the Oakville GO Station in midtown Oakville. PricewaterhouseCoopers (PwC) LLP will be the lead tenant for the six-storey, 150,000 square foot office development, bringing at least 400 new jobs to Oakville. Rockstar Games Expansion Video game producer Rockstar Games of New York City announced in July 2012 that it is expanding its Rockstar Toronto studio through the opening of a new, larger, custom-built facility in midtown Oakville and the addition of 50 new positions. In conjunction with the expansion, Rockstar Games will be consolidating 35 jobs from its Vancouver office. Rockstar Games is considered one of the top game developers in the world. The expansion was assisted with financial support from the Province of Ontario, which provided $2 million in grants to Rockstar. Three Innovative Oakville Companies Expand Three innovative companies are expanding their businesses and creating nearly 170 new jobs in Oakville, thanks to an investment of up to $3.075 million by the Government of Canada. Through the Investing in Business Innovation initiative, FedDev Ontario is contributing up to $925,000 to Smart Energy Instruments Inc. and up to $500,000 to ARDA Power Inc. This funding will allow Smart Energy Instruments Inc. to further develop, test and bring to market technology for measuring dozens of complex electric power quantities, synchronized across an entire grid and to communicate this information in real time. Through its Prosperity Initiative, FedDev Ontario is contributing up to $1.65 million to aerospace firm VAC Developments to upgrade its technology and train its employees with the goal of attracting larger contracts for precision mechanical components and assemblies in the aerospace market.

11 Competitive Position With a 25% reduction in Halton Region s non-residential, non-retail Development Charges (DCs), Halton has improved upon its competitive positioning for attracting new office and industrial development. Construction values were significantly higher across many areas of the Greater Golden Horseshoe (GGH) in 2012 than the previous year, indicating a return for many municipalities to pre-recessionary investments levels. Among GGH regions, Halton and Peel saw the highest gains. Driving higher values in Halton were significant increases in investment in the towns of Halton Hills, Oakville and Milton. In comparison, the Regions of York, Durham and Waterloo and the City of Toronto, witnessed only modest gains or a drop in construction values over last year. Overall, the total construction value of building permits issued in the Greater Toronto Area (GTA) in 2012 was $16.8 billion, of which 13% was accounted for by investments in Halton Region up from 9% in Successfully attracting new non-residential investment to a region and stimulating construction activity requires municipalities striking the right balance amongst serviced employment land availability, development charges (DCs), processing fees, and property taxes. On September 5, 2012, Halton Region s new DC By-law No came into full force and effect resulting in significantly lowered nonresidential, non-retail (Office and Industrial) development charges. With a 25% reduction in the Region s nonresidential, non-retail DCs, Halton has improved upon its competitive positioning for attracting new office and industrial development. Total Halton Region and Halton Local Municipal DCs for industrial development in 2012 were now comparable and competitive with other areas of the GGH. Nonresidential development charges were highest in York Region municipalities, followed by the towns of Oakville and Milton in Halton, and the Kitchener/Waterloo areas. Meanwhile, Durham Region and the cities of Toronto, St. Catharines, Guelph and Hamilton reported among the lowest industrial DCs. For commercial office development, York Region municipalities had the highest office DCs in 2012, followed by Halton and Durham Regions. The western GGH municipalities and the City of Toronto offered among the lowest commercial office DCs. An opposite picture emerged in a comparison of property tax rates across the GGH tax rates for industrial, commercial and residential properties were the lowest in York, Peel and Halton Regions. The western GGH municipalities, including the cities of Hamilton, St. Catharines, Kitchener Waterloo, as well as Durham Region reported among the highest property taxes in All properties in Ontario are assessed once every four years by the Municipal Property Assessment Corporation for taxation purposes. The last assessment update took place in 2012 for taxation years Residential property values in Halton Region increased by 20.3% on average since the last update in 2008 (Burlington 20%, Halton Hills 17.9%, Milton 20.1%, and Oakville 21.1%). Since 2008, waterfront property in Halton Region increased 21.1% on average, while farmland throughout the region increased 73.7% on average. Property owners will see these assessment increases phased-in over a fouryear period. The latest assessment information for non-residential properties in Ontario is for At that time, the share of non-residential property assessment in Halton Region stood at approximately 16% virtually unchanged since Within Halton, Burlington had the highest share of non-residential assessment in 2011 at 18.2%, followed by Milton with 17.3%, Oakville with 14.5% and Halton Hills with 10.6%. Halton s non-residential share of total assessment is in line with York Region and the western GGH municipalities. The City of Toronto and Peel Region municipalities have significantly higher non-residential proportions of total assessed property values. 11

12 Competitive Position Comparison of Building Permit Activity in Select Municipalities in Greater Golden Horseshoe, 2011 versus 2012 Location Percentage Change Residential ICI Total Residential ICI Total Residential ICI Total Halton Region $960,023,203 $439,542,998 $1,449,190,052 $924,277,904 $1,207,830,816 $2,206,546, % 174.8% 52.3% Burlington $250,587,363 $173,400,076 $451,357,069 $202,498,689 $188,155,785 $426,218, % 8.5% -5.6% Halton Hills $66,351,494 $26,176,240 $96,481,207 $119,064,000 $119,626,881 $246,560, % 357.0% 155.6% Milton $298,153,652 $55,515,000 $368,366,250 $329,087,713 $239,483,830 $591,702, % 331.4% 60.6% Oakville $344,930,694 $184,451,682 $532,985,526 $273,627,502 $660,564,320 $942,064, % 258.1% 76.8% Peel Region $1,862,400,000 $781,200,000 $2,643,600,000 $2,763,044,000 $887,113,000 $3,650,157, % 13.6% 38.1% Mississauga $383,746,000 $405,845,000 $806,127,000 $457,040,000 $381,821,000 $856,857, % -5.9% 6.3% York Region $2,082,600,000 $907,800,000 $2,990,400,000 $2,491,194,000 $868,928,000 $3,360,122, % -4.3% 12.4% Durham Region $1,021,900,000 $462,600,000 $1,484,500,000 $824,242,000 $502,295,000 $1,326,537, % 8.6% -10.6% City of Toronto $3,241,500,000 $3,667,800,000 $6,909,300,000 $3,416,211,000 $2,825,128,000 $6,241,339, % -23.0% -9.7% City of Hamilton $432,286,604 $285,671,573 $731,019,287 $659,882,166 $816,343,347 $1,499,627, % 185.8% 105.1% Waterloo Region $700,877,000 $575,164,000 $1,276,041,000 $592,069,000 $489,834,000 $1,081,903, % -14.8% -15.2% City of Brantford $42,842,000 $47,952,000 $90,794,000 $38,004,000 $102,275,000 $140,279, % 113.3% 54.5% Note: Total many not add to 100% since the miscellaneous category has been omitted. Source: Statistics Canada's Building Permits Survey, Municipal building departments and Halton Region Economic Development division. Comparison of Total Development Charges (Upper- and Lower-Tier) Across the Greater Golden Horseshoe, 2012* Region Municipality Residential (single detached per unit) * Multiple dwelling and apartments have been excluded. ** Revised rates as of September 5, 2012 Source: BMA Management Consulting Inc., Municipal Study 2012 Non-Residential (commercial per sq ft) Non-Residential (industrial per sq ft) Toronto City of Toronto $17,441 $12.28 $0.58 Peel Mississauga $54,843 $18.81 $13.97 Brampton $63,417 $28.27 $13.42 Caledon $57,108 $16.98 $13.31 Durham Oshawa $29,996 $22.11 $4.91 Whitby $34,848 $21.90 $7.70 Pickering $32,904 $23.15 $8.95 Ajax $34,537 $22.51 $8.31 York Vaughan $54,931 $40.07 $21.64 Markham $61,719 $39.08 $20.58 Richmond Hill $54,331 $44.50 $23.66 Newmarket $56,395 $39.92 $21.49 Aurora $57,864 $40.60 $22.17 Halton Burlington $38,790 $31.32 $13.95 Oakville $50,176 $29.92 $17.35 Milton** $46,387 $29.57 $13.84 Halton Hills $43,944 $27.13 $12.24 Outside GTA Hamilton $28,986 $16.03 $8.29 St. Catharines $9,950 $11.50 $5.16 Guelph $25,301 $12.23 $7.91 Cambridge $26,214 $12.32 $12.32 Waterloo $28,746 $15.58 $15.58 Kitchener $23,986 $14.78 $14.78 Barrie $29,441 $17.17 $

13 Comparison of Total Property Tax Rates (Municipal and Education) Across the Greater Golden Horseshoe, 2012* Region Municipality Residential Commercial (Retail and Office) Industrial (Residual) * Multi-residential and commercial (residual) have been excluded. Source: BMA Management Consulting Inc., Municipal Study 2012 Industrial (Large) Toronto City of Toronto 0.77% 3.01% 3.19% 3.19% Peel Mississauga 0.94% 2.20% 2.56% 2.56% Brampton 1.16% 2.40% 2.80% 2.80% Caledon 0.94% 2.11% 2.48% 2.48% Durham Oshawa 1.63% 3.18% 4.76% 4.76% Whitby 1.36% 2.80% 4.16% 4.16% Pickering 1.33% 2.76% 4.10% 4.10% Ajax 1.34% 2.77% 4.13% 4.13% York Vaughan 0.93% 1.92% 2.23% 2.23% Markham 0.91% 1.89% 2.20% 2.20% Richmond Hill 0.93% 1.92% 2.23% 2.23% Newmarket 1.08% 2.09% 2.43% 2.43% Aurora 1.03% 2.04% 2.37% 2.37% Halton Burlington 0.96% 2.09% 3.33% 3.33% Oakville 0.94% 2.05% 3.27% 3.27% Milton 0.83% 1.89% 3.01% 3.01% Halton Hills 0.95% 2.08% 3.31% 3.31% Outside GTA Hamilton 1.43% 3.74% 5.32% 5.99% St. Catharines 1.49% 3.49% 4.93% 4.93% Guelph 1.26% 3.37% 4.33% 4.33% Cambridge 1.29% 3.57% 3.67% 3.67% Waterloo 1.23% 3.46% 3.56% 3.56% Kitchener 1.25% 3.50% 3.60% 3.60% Barrie 1.30% 2.76% 3.02% 3.02% Comparison of Building Permit Fees Across the Greater Golden Horseshoe, 2012 Region Municipality Residential (per m2) Source: BMA Management Consulting Inc., Municipal Study 2012 Retail (per m2 finished) Industrial (per m2 finished) Toronto City of Toronto $46.72+$15.39 $17.23 $14.11<7,500m2, $12.46>7,500m2 Peel Mississauga $13.40 $14.00 $9.50>10,000m2 Brampton $12.75 $14.79 $9.69 Caledon $12.60 $16.00 >600m2 $6.40 Durham Oshawa $10.92 $12.62 $10.58 Whitby $8.50 $10.01 $8.18 Pickering $10.85 $8.50 $6.45 Ajax $9.00 $11.00 $6.60 York Vaughan $9.75 $9.25 $7.65 Markham $12.34 $11.58 $9.47 Richmond Hill $9.50 $10.00 $8.10 Newmarket $14.50 $8.88 $8.66 Aurora $12.00 $9.50 $8.00 Halton Burlington up to 300m2 $10.10, $14.41 up to $4,650m2 $7.90, then $5.40 then $13.02 Oakville $14.16 $19.70 $11.84>15,000m2 Milton $9.83 $9.00 $6.00 Halton Hills $15.39 $14.39 $9.16 Outside GTA Hamilton $12.84 $14.07 $9.86 <4,650m2, $6.93 > St. Catharines $10.65 $12.05 first 929m2, $ ,647, then $10.76>4,647 $8.82 first 929m2, $ ,647, then $7.10>4,647 Guelph $12.16 $13.45 $8.39 Cambridge $13.45 $15.06 $9.36 Waterloo $8.61 $10.22 $5.92 Kitchener $12.70 $15.06 $8.61 Barrie $11.00 $13.25 $

14 Competitive Position Municipality by Year Comparison of Taxable Property Assessment Across the Greater Golden Horseshoe, 2011 (Total $ Current Value Assessment at start of year) Non-Residential Assessment (total less residential) Residential Assessment Total Assessment Non-Residential % of Total Assessment Halton Region Halton Region Total 2007* $8,911,820,257 $51,727,205,790 $60,639,026, % Halton Region Total 2008* $9,113,363,615 $53,096,794,607 $62,210,158, % Other GTA Municipalities Burlington 2009* $4,806,992,640 $21,958,267,215 $26,765,259, % Halton Hills 2009 $893,387,450 $7,493,501,499 $8,386,888, % Milton 2009 $2,033,056,519 $8,849,144,289 $10,882,200, % Oakville 2009 $4,954,738,547 $29,248,784,800 $34,203,523, % Halton Region Total 2009* $12,688,175,156 $67,549,697,803 $80,237,872, % Burlington 2010* $4,914,508,985 $22,288,348,393 $27,202,857, % Halton Hills 2010 $895,903,450 $7,490,291,999 $8,386,195, % Milton 2010 $2,130,742,219 $9,616,182,166 $11,746,924, % Oakville 2010 $5,054,074,257 $30,094,903,150 $35,148,977, % Halton Region Total 2010* $12,996,811,911 $69,488,142,708 $82,484,954, % Halton increase $308,636,755 $1,938,444,905 $2,247,081,660 Halton % increase % 2.87% 2.80% Note #1 Burlington 2011* $5,021,815,795 $22,633,290,183 $27,652,068, % Halton Hills 2011 $898,114,135 $7,575,127,158 $8,470,031, % Milton 2011 $2,198,256,328 $10,483,409,603 $12,681,665, % Oakville 2011 $5,183,693,067 $30,568,181,810 $35,750,291, % Halton Region Total 2011* $13,301,879,325 $71,252,178,714 $84,554,058, % Halton increase $305,067,414 $1,764,036,006 $2,069,103,420 Halton % increase % 2.54% 2.51% City of Toronto 2011 $86,108,915,999 $328,192,641,420 $414,301,557, % Mississauga 2011 $27,871,648,100 $77,797,506,490 $105,669,154, % Brampton 2011 $11,375,604,571 $44,312,405,935 $55,688,010, % Caledon 2011 $1,610,825,091 $9,488,720,454 $11,099,545, % Peel Region Total 2011* $52,908,915,220 $119,547,795,421 $172,456,710, % Oshawa 2011 $2,373,305,962 $11,563,923,823 $13,937,229, % Whitby 2011 $1,913,382,426 $12,004,253,803 $13,917,636, % Pickering 2011 $1,700,075,742 $9,352,095,993 $11,052,171, % Ajax 2011 $1,407,456,275 $10,074,722,220 $11,482,178, % Durham Region Total 2011* $8,743,354,304 $58,417,103,187 $67,160,457, % Other GGH Municipalities Vaughan 2011 $13,903,690,880 $41,610,274,535 $55,513,965, % Markham 2011 $8,362,847,729 $37,750,994,868 $46,113,842, % Newmarket 2011 $1,863,127,710 $8,881,041,220 $10,744,168, % Aurora 2011 $1,206,005,047 $7,195,361,513 $8,401,366, % York Region Total 2011* $31,444,397,858 $141,962,991,361 $173,407,389, % Hamilton Total 2010 $6,690,372,531 $43,797,945,454 $50,488,317, % Brantford 2010 $1,535,513,058 $6,494,159,307 $8,029,672, % Guelph 2010 $2,182,590,640 $10,789,626,806 $12,972,217, % Kitchener 2010 $2,827,603,288 $16,584,664,987 $19,412,268, % Source of Assessment Figures: Ontario Government Ministry of Municipal Affairs, Financial Information Returns. (FIR). The collection of data is standardized in this collection in the same manner from every municipality in Ontario. The prior year is the most recent available in this province wide format. Schedules used are Schedule 26 (Taxation and Payments in Lieu Summary, Municipal and School Board Taxation). Assessment Property Class: For consistency, only Full Current Value Assessment totals before adjustments figures are used. (Weighted and discounted figures, payments in lieu, adjustments and special levies are not included.) The total for Residential used is property classes: Residential, Multi-residential, Farmland and Managed Forests, consistent with FIR Schedule 26. The Total for Non-Residential used is property classes: Commercial (incl., office, parking and shopping centres) Industrial, Pipelines and Other. Current Value Assessment: Current Value Assessment is the term used by the Municipal Property Assessment Corporation (MPAC) for Taxable Assessment. Each year the taxable assessment figure reported includes both reassessment of existing property to reflect new market valuations and the addition of new buildings and changes in land use. Note # 1: 2008 was a MPAC re assessment year for the entire province. The increases show up in Previous was 2005 Next is The resultant increase in the Non-Residential % of Total Assessment is an observed result across many municipalities in Ontario. * Totals are as reported in the FIR for Halton Region and may not add from each municipality due to rounding errors. Halton and Peel Region totals include all municipalities listed. Durham and York totals include certain rural municipalities not listed. Burlington unweighted 2009 and 2010 FIR total assessment was not available and figures shown are the Halton Region total less the other 3 Halton local municipalities 14

15 15

16 Market O

17 Market Overview

18 Economic Activity The international economy has been slow to recover from the economic downturn. According to the International Monetary Fund (IMF), global growth fell to 3.2% in 2012, a slowing trend that is likely to persist. Unlike in 2010 and 2011, emerging markets, including China, India and Brazil, did not offset the economic slump in many advanced economies in 2012 and conditions are not expected to improve much in The IMF is forecasting global growth to reach only 3.5% in For Canada, weak global conditions have translated into only moderate growth in real gross domestic product (GDP) and exports (particularly in motor vehicles and industrial machinery). In the Canadian labour market, private sector employment grew 2.2% in 2012 (242,000 workers) and public sector employment rose by 2.6% (92,000 workers). Employment gains were witnessed in transportation, warehousing and construction, while professional, scientific and technical services, natural resources and public administration posted job losses. The unemployment rate in Canada in 2012 was 7.3%, down from 7.5% in Similar to the national picture, the province of Ontario witnessed only moderate growth in 2012, as growth in real GDP in the goods-producing sector during the first three quarters averaged 0.3% and 0.4% in the services sector. Growth in Ontario s manufacturing sector during this period was similarly 0.3%. However, the auto industry subsector expanded 2.9%. In the labour market, Ontario s unemployment rate stood at 7.8% for 2012, 0.1 percentage points lower than Ontario s unemployment rate was slightly higher than the national 7.3% average. Provincial employment levels increased 0.2% in the goods-producing sector and 0.9% in the services sector between 2011 and Meanwhile, the Halton economy showed signs of strong growth throughout 2012 and is well positioned for continued expansion in Overall development activity in Halton surged 50% in 2012, reaching a recordbreaking $2.2 billion in total building permit construction value. Growth was particularly strong in industrial and institutional investment activity, with values rising more than 330% over the previous year. In terms of labour force activity, Halton s unemployment rate for 2012 was 5.5%, which is significantly lower than both the national and provincial 2012 average unemployment rates (Canada 7.3% and Ontario 7.8%). At the same time, however, there were slightly fewer residents participating in the labour force as both the participation rate and employment rate in Halton declined over the past two years. Halton Economic Indicators Indicator /2012 % or pp change Total Population 1 482, , , % Population Density (per sq km) % Labour Force 3 291, , , % Unemployment Rate 4 5.5% 6.1% 5.5% 0.6pp Participation Rate % 73.6% 72.6% 1.0pp Employment Rate % 69.2% 68.6% 0.6pp Employment Insurance Beneficiaries 5 5,562 4,199 3, % Total ICI Employment 1 244, , , % Business Bankruptcies % Total Construction Value 7 $1,387,502,513 $1,449,190,052 $2,177,546, % Industrial $86,210,220 $43,627,285 $193,392, % Commercial $134,380,619 $232,625,967 $279,667, % Institutional $354,040,429 $163,289,746 $705,770, % Residential $756,846,325 $960,023,203 $924,277, % Industrial Vacancy Rate 8 8.0% 5.6% 4.8% 0.8pp Office Vacancy Rate % 13.5% 12.6% 0.9pp Average Household Income 3 $122,400 $122,700 $129, % Occupied Dwelling Units 1 173, , , % Housing Sales 10 4,692 5,330 5, % Average Housing Price 10 $517,811 $543,414 $556, % Average Days on the Market % Sources: 1 Halton Region Best Planning Estimates, June 2011 (forecasted) 2 Based on Halton's land area of 967 square kilometres 3 Financial Post Markets, Canadian Demographics 4 Statistics Canada, Labour Force Survey Estimates (custom tabulation, 3 month moving average, unadjusted) 5 Statistics Canada, Employment Insurance Statistics (Table , average number of beneficiaries receiving regular benefits) 6 Office of the Superintendent of Bankruptcy Canada 7 Local Municipal building departments and Halton Economic Development 8 CBRE. Based on rates in Burlington, Milton and Oakville. 9 CBRE. Based on rates in Burlington and Oakville. 10 Toronto Real Estate Board, Market Watch 18

19 Unemployment Rate Trends in Canada, Ontario and Halton, Unemployment Rate (%) Source: Statistics Canada, Labour Force Survey, January 2013 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Canada Ontario Halton Unemployment Rate Trends in Halton, Unemployment Rate (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Halton 6 Year Trendline Source: Statistics Canada, Labour Force Survey, January

20 Economic Activity Business Bankruptcy Trends in Halton, 2007 to 2012 Number of Business Bankruptcies Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q Year Burlington - urban Halton Hills -urban Milton- urban Oakville -urban Halton Region - rural HALTON REGION TOTAL Source: Office of the Superintendent of Bankruptcy Canada. Employment Insurance Beneficiaries in Halton, * 5,000 4,500 4,000 Average Number of Beneficiaries 3,500 3,000 2,500 2,000 1,500 1, I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV I II III IV Year Males Females Males Trendline Females Trendline * Refers to average number of beneficiaries receiving regular benefits during the quarter. Source: Statistics Canada, Employment Insurance Statistics (Table ). 20

21 Industrial Market The Greater Toronto Area (GTA) industrial market was relatively active throughout 2012, with Milton s new Target distribution centre driving industrial inventory and absorption numbers during the fourth quarter. According to realtor CBRE, in the GTA, overall absorption during the last quarter of 2012 increased dramatically to 2.3 million sq.ft., up from 967,737 sq.ft. of negative absorption during the previous quarter. The industrial availability rates throughout the GTA, meanwhile, remained relatively stable throughout In Halton during the fourth quarter, Halton Hills had the highest availability rate at 6.3% (as reported by Avison Young), followed by Burlington at 5.5%, Milton at 5.4% and Oakville at 4.4% (as reported by CBRE). The average net rent of industrial space within Halton during the fourth quarter was $5.09 per sq.ft., compared to an average of $4.63 within the GTA. Greater Toronto Area Industrial Market Overview*, Q Municipality Total Inventory Total Availability Rate Total Vacancy Rate Absorption (YTD) Avg. Net Rent Avg. Sale Price sq ft % % sq ft $ / sq ft $ / sq ft Ajax 7,499, , Oshawa 26,928, , Pickering 9,267, , Whitby 6,092, , Toronto 23,064, , Markham 35,579, , Newmarket 4,603, , Richmond Hill 12,393, , Vaughan 64,239, , Caledon 10,347, , Brampton 77,689, , Mississauga 153,843, , Oakville 18,111, , Burlington 20,691, , Milton 14,174, ,463, * Includes only select municipalities in the Greater Toronto Area (figures for Halton Hills not available). Source: CBRE, MarketView Toronto Industrial, Q Office Market In the office market, following four consecutive quarters of rising vacancy rates, in the fourth quarter of 2012, the overall vacancy rate in the GTA office market dropped to 8.3%. Office vacancy rates in Burlington and Oakville, however, remained relatively high during the fourth quarter at 11.2% and 16.4%, respectively. Absorption of office space in the GTA also improved during the last quarter of 2012, reaching 434,650 sq.ft. for a year-end total of 256,621 sq.ft. In Burlington, 82,722 sq.ft. of office space was absorbed in 2012, while 42,681 sq.ft. was absorbed in the Oakville office market. The average net rent of office space in Burlington during the fourth quarter of 2012 was $16.13 per sq.ft., while in the Oakville office market net rents were $17.44 per sq.ft. This compares to the overall average within the GTA office market of $17.16 per sq.ft. during the fourth quarter of Greater Toronto Area Office Market Overview*, Q Municipality Total Inventory Total Vacancy Rate Absorption (YTD) Avg. Net Rent Under Construction sq ft % sq ft $ / sq ft sq ft North York West 2,170, , East York / Don Mills South 2,695, , Scarborough 3,609, , Vaughan 2,006, , ,996 Markham North / Richmond Hill 7,400, , ,720 Toronto (Downtown) 66,055, , ,827,217 Toronto (Midtown) 14,759, , Brampton 1,219, , ,000 Airport Corporate Centre 5,188, , ,920 Mississauga (City Centre) 3,731, , ,000 Mississauga (Meadowvale) 4,110, , ,868 Burlington 3,191, , Oakville 2,617, , ,000 * Includes only select municipalities in the Greater Toronto Area (figures for Halton Hills and Milton not available). Source: CBRE, MarketView Toronto Office, Q

22 Development Activity Development activity across Halton reached record levels in 2012, as total building permit construction values surged 50% to reach nearly $2.2 billion. Construction values rose 156% in Halton Hills to $246.6 million, 77% in Oakville to just over $942 million, and 53% in Milton to $562.7 million. Burlington s total construction value declined slightly to $426.2 million. The most significant increases occurred in industrial building activity (343% increase in construction value), followed by institutional investments (332% increase in construction value), and commercial building activity (20% increase in construction value). The residential construction sector witnessed a 4% decline in building permit activity in 2012 from the previous year. Bolstering industrial construction values were several large-scale developments in Milton; including the new Target distribution centre ($84.5 million), Lowe s Canada distribution centre ($22.5 million), and an expansion of Gordon Food Service ($13.5 million). Other significant investments throughout the Region were made by DB Schenker Logistics, UPS Supply Chain Solutions, Omron Dualtec Automotive, and at Ford Canada's Oakville Assembly Complex. Contributing to the substantial jump in institutional construction activity were: the new Oakville hospital (over $285 million), renovations at Halton Region s Skyway Wastewater Treatment Plant in Burlington and the Oakville Water Purification Plant ($50 million and $23 million, respectively), a new residence at Sheridan College in Oakville (over $30 million), a new Milton Catholic Secondary School ($29 million), and an addition to the Mold-Master s SportsPlex in Halton Hills ($16.2 million). Among commercial permits issued were several new multi-storey office developments. These developments included one in midtown Oakville for accounting firm PWC, the Emory-Alton Corporate Centre in Burlington, the first phase in Oakville s Joshua Creek Corporate Centre, two offices in the Great Lakes Business Park, and the new Siemens Canada headquarters in Oakville. There were also significant retail investments made in 2012, including a permit issued for Toronto Premium Outlets, a new retail outlet centre in Halton Hills ($42.7 million), and several renovations to convert Zellers retail stores to Target Canada stores. Overall, there were 8,129 building permits issued across Halton Region in This represents a 28% increase and 23% increase over permits issued in 2010 and 2011 respectively. Fifty-one per cent of all building permits were for residential, while Industrial, Commercial, and Institutional (ICI) permits accounted for 12%. Development activity across Halton reached record levels in 2012, as total building permit construction values surged 50% to reach nearly $2.2 billion. Construction Value ($ thousand) of New Developments, * Type of Burlington Oakville Milton Halton Hills Halton Construction Residential 250, , , , , , , , , ,277.9 Industrial 17, , , , , , , , , ,393.0 Commercial 84, , , , , , , , , ,667.9 Institutional 71, , , , , , , , , ,770.0 Other 27, , , , , , , , , ,438.2 Total Value 451, , , , , , , , ,449, ,177,546.9 * Figures may not add due to rounding. Source: Local Municipal building departments and Halton Economic Development 22

23 Number of Building Permits Issued in Halton by Type of Development and Municipality, Residential* Non-Residential** Miscellaneous*** Total Burlington ,514 1,577 1,380 2,138 Halton Hills Milton 1,493 1,961 2, ,210 2,546 3,137 Oakville 1,203 1,415 1, ,113 2,244 1,936 HALTON REGION 3,530 4,031 4, ,909 1,619 3,055 6,334 6,614 8,129 * includes apartment registrations, renovations and additions ** includes industrial, commercial, institutional (ICI) *** excluding signs Source: Local Municipal building departments Top Industrial and Commercial Developments, 2012* Name of Development Location Building Type Area (sq ft) Construction Value ($) Target Distribution Centre Milton New industrial distribution centre 1,313,778 $84,500,000 Calloway REIT Retail Centre Halton Hills New commercial retail outlet centre 464,043 $42,700,000 Hunter Amenities Burlington Industrial addition 70,555 $32,000,000 First Gulf Midtown Oakville Oakville New Multi-Storey Office 186,660 $24,279,000 Lowe's Canada Distribution Centre Milton New Distribution Centre 613,975 $22,500,000 Emory-Alton Corporate Centre Burlington New commercial two-storey office buildings 60,000 $18,000,000 Gordon Food Service Milton Industrial Warehouse Expansion 173,620 $13,500,000 First Gulf Midtown Oakville Oakville New Multi-Storey Office (superstructure) 186,650 $12,500,000 Sun Life Assurance Halton Hills New Speculative Warehouse na $12,300, Oak Park Offices Oakville New Multi-Storey Office Building 80,880 $10,520,000 Pelmorex Weather Network Oakville Commercial two-storey office addition 36,242 $8,000,000 Toronto Rock Lacrosse Club Oakville New commercial lacrosse training centre 81,117 $8,000, Appleby Line Burlington New commercial office retail building 29,827 $6,000,000 Hoopp Realty (DB Schenker Logistics) Milton Distribution Warehouse Expansion 178,000 $5,800,000 Siemens Canada Oakville Multi-Storey Office Renovation 97,520 $5,800,000 Greenlife Business Centre Milton New Multi-Storey Office Building 25,960 $5,500,000 Head Office on King Forest Crt. Burlington New Office Building 18,440 $5,000,000 Canada Post Warehouse Oakville Industrial alterations to existing building 4,962 $2,800,000 UPS Supply Chain Solution Burlington Distribution Warehouse Renovation 208,820 $2,600,000 Omron Dualtec Automotive Electronics Oakville Industrial Warehouse Expansion 31,990 $2,526,000 First Gulf Midtown Oakville Oakville New Multi-Storey Office (foundation) na $2,500,000 Paul's Properties Oakville Office alterations for Delage Landen 31,151 $1,600,000 ABS Machining Burlington Manufacturing Facility Addition 14,350 $1,542,000 Bunzl Canada Burlington Industrial / office alterations to existing 11,087 $1,300,000 building Ford Motor Company of Canada Oakville Industrial Renovation 27,990 $1,170,870 Shred-It Oakville Industrial alterations to existing building 14,854 $1,100,000 Hatch Engineering Liuna Building Oakville Office Alterations 0 $1,000,000 Pets Plus Us Insurance Oakville Industrial/Office Alteration 11,120 $1,000,000 * Listing of all non-residential, non-institutional and non-retail developments in excess of $1 million in construction value. Source: Local Municipal building departments. 23

24 Development Activity Gross Floor Area (sq. ft.) of Non-Residential Developments, 2011 vs 2012* (Based on all non-residential permits issued by Local Municipalities) Industrial Commercial Institutional Total ICI Burlington 520, ,746 1,810,449 1,062, , ,328 2,753,507 2,308,746 Halton Hills 126, ,441 83, ,004 93, , ,371 1,579,375 Milton 178,809 2,722, , , , , ,011 3,454,513 Oakville 295, ,226 1,446,331 1,347, , ,841 2,037,711 2,230,812 HALTON REGION 1,121,346 4,565,853 3,586,116 3,497,805 1,068,138 1,509,788 5,775,600 9,573,446 * Excludes site servicing, heating and plumbing. Both new construction, additions and internal alterations are included. Source: Local Municipal building departments and Halton Economic Development. Total Floor Area (Sq. Ft.) of New and Expansion Non-Residential Development, 2012 (Based on non-residential permits issued under the Halton Region DC by-law) Burlington Halton Hills Milton Oakville HALTON REGION Industrial TFA 95, ,833 2,361,161 59,741 2,856,325 New 1, ,001 2,018, ,309,920 Expansion 94,245 49, ,587 59, ,405 Retail TFA 351, ,651 72, ,586 1,189,321 New 350, ,513 68, ,346 1,143,420 Expansion 1,745 19,138 3,778 21,240 45,901 Office TFA 69,156 9,404 51, , ,951 New 69,156 4,634 49, , ,979 Expansion 0 4,770 1,658 36,544 42,972 Other TFA 300, , ,334 1,711,084 2,674,230 New 295,185 97, ,747 1,675,866 2,573,681 Expansion 5,092 54,651 5,586 35, ,547 Total Floor Area 816, ,423 2,995,161 2,364,441 7,162,829 Total New 715, ,031 2,641,551 2,211,697 6,427,002 Total Expansion 101, , , , ,827 Source: Halton Region, Non-Residential Development Charge Database. 24 Development Trends Halton Region has experienced strong overall growth over the last two decades. Since 1989, the construction value of residential and non-residential development in Halton has skyrocketed 150%. While a significant proportion of the development activity has occurred in Oakville and Burlington since 1989, the Town of Milton has seen the fastest growth in the Region during the last decade, with construction activity expanding 730% between 2000 and Milton s share of Halton s total development activity also rose dramatically over the past decade, from 7% of Halton s total construction values in 2000 to 25% of total values in Meanwhile, the Town of Oakville accounted for 45% of Halton Region s total construction activity in This growth is attributed to significant institutional developments in Oakville during the year which led to a dramatic spike in the Town s overall construction value. In terms of non-residential development activity, construction in the retail and commercial sector has seen the fastest growth in Halton with consistently high levels of growth since the mid 1990s. As previously noted, both commercial and institutional developments in Halton reached record levels in 2012 with large retail developments and the building of the new Oakville hospital. Industrial development, meanwhile, maintained a steadier pace throughout the past 23-year period, reaching peaks in , and During the 2009 downturn, industrial development in Halton dropped to its lowest levels since 1995, but has subsequently recovered. As of 2012, industrial construction values were approximately 29% higher than the Region's historical average, commercial values were 171% higher and institutional values were 482% higher than historical averages.

25 Total Construction Value Trends Across Halton, * 1,000, , ,000 Construction Value ($000) 700, , , , , , , Year Burlington Halton Hills Milton Oakville * Including both residential and non-residential (industrial, commercial and institutional) building construction. Source: Statistics Canada, Building Permits Survey (Publication XWF), February ,400,000 Development Activity in Halton by Type, ,200,000 Construction Value ($000) 1,000, , , , , Year Residential Non-Residential* Residential Trendline Non-Residential Trendline * Includes industrial, commercial (office and retail), and institutional building types. Source: Statistics Canada, Building Permits Survey (Publication XWF), February

26 Development Trends Halton Industrial, Commercial and Institutional (ICI) Construction Values ($000), , ,000 Construction Value ($000) 400, , , , Year Source: Statistics Canada, Building Permits Survey (Publication XWF), February 2013 Industrial Commercial Institutional Growth in Industrial Construction Value ($ thousand) Across Halton, , , ,000 Construction Value ($000) 120, ,000 80,000 60,000 40,000 20, Year Burlington Halton Hills Milton Oakville Halton Region Industrial Trendline 26 Source: Statistics Canada, Building Permits Survey (Publication XWF), February 2013

27 Growth in Commercial Construction Value ($ thousand) Across Halton, , ,000 Construction Value ($000) 400, , , , Year Burlington Halton Hills Milton Oakville Halton Region Commercial Trendline Source: Statistics Canada, Building Permits Survey (Publication XWF), February

28 Housing Activity The Greater Toronto Area (GTA) witnessed strong growth in housing market sales during the first half of 2012, which was later tempered by declines throughout the latter half of the year. Overall, total housing sales in the GTA amounted to 85,731, which is down 4% from 89,096 transactions in According to the Toronto Real Estate Board, stricter mortgage lending guidelines resulting in many households postponing purchasing decisions contributed to the decline. Meanwhile, the average home selling price for 2012 was up nearly 7% to $497,298 within the GTA. The resale housing market in Halton Region performed particularly well during The Toronto Real Estate Board reported 5,809 housing sales a record high during 2012, representing a 9% increase over the previous year. The increased sales activity translated into substantial competition among home buyers which exerted upward pressure on selling prices. In 2012, Halton s average housing price was approximately $556,400, up 2.4% from the previous year. Resale homes were also on the market for a shorter amount of time during 2012, averaging just 27 days. Halton s new housing market also picked up steam in The Canada Mortgage and Housing Corporation reported that construction began on 4,103 new single or multiple dwelling units in 2012, up 22% from the previous year. Overall, there were 3,888 dwelling units completed during the year, representing a 34% increase from While these numbers are positive, Halton s housing starts and completions have not fully returned to their pre-2009 recession levels. Housing Prices in Select Ontario Markets, Q vs. Q Market Detached Bungalow* Standard Condominium** Q Q % Change Q Q % Change Barrie $267,000 $279, % $245,000 $275, % North Bay $240,000 $235, % $167,000 $165, % London $241,800 $249, % $150,400 $144, % Hamilton (Mountain) $227,750 $251, % n/a n/a n/a North Toronto $680,000 $705, % $412,000 $417, % Scarborough (Central) $387,000 $420, % $250,000 $265, % Newmarket $395,000 $419, % $265,000 $218, % Markham $545,000 $600, % $310,000 $325, % Mississauga (Meadowvale) $430,000 $460, % $225,000 $240, % Richmond Hill $633,000 $550, % $310,500 $284, % Burlington $355,000 $375, % $266,900 $280, % Oakville $389,000 $435, % $279,000 $290, % * Refers to a three-bedroom single storey home with 1 1/2 bathrooms and a garage (house area 1,200 sq ft) ** Refers to a two-bedroom apartment in a high-rise building with an inside floor area of 900 sq ft) Source: Royal LePage, Survey of Canadian House Prices, 2011 and 2012 Halton Housing Overview, December 2012 Municipality Total Supply Under Construction 3 mos. Average Absorption Burlington 1, Halton Hills Milton 2,060 1, Oakville 1,212 1, Halton Total 4,780 3, Note: Data is collected through the Starts and Completions Survey and Market Absorption Survey, which involves site visits of new self-contained single and multiple dwelling units. Absorption occurs after a unit has been completed and either sold or rented. Source: Canada Mortgage and Housing Corporation, Housing Market Information, January

29 Housing Starts in Halton Region, Municipality /2012 % Change Burlington 1, % Halton Hills % Milton 1,616 1,867 2, % Oakville 1, , % Halton Total 3,864 3,374 4, % Note: Data is collected through the Starts and Completions Survey and Market Absorption Survey, which involves site visits of new self-contained single and multiple dwelling units. Absorption occurs after a unit has been completed and either sold or rented. Source: Canada Mortgage and Housing Corporation, Housing Market Information, January 2013 Housing Completions in Halton Region, Municipality /2012 % Change Burlington 1, % Halton Hills % Milton 1,627 1,293 1, % Oakville , % Halton Total 3,433 2,898 3, % Note: Data is collected through the Starts and Completions Survey, which involves site visits of new self-contained single and multiple dwelling units. Housing starts are defined as the beginning of construction of a building, usually when the concrete foundation or footings have been poured. Source: Canada Mortgage and Housing Corporation, Housing Market Information, January

30 Existing and Emerging Economic Sectors Halton was a location of choice for 12,211 establishments in 2012, up 0.8% from 12,120 establishments in Half of all establishments in Halton in 2012 were micro-businesses, employing fewer than 5 workers and 94% of companies were small businesses with fewer than 50 employees. Overall, Halton businesses employed 189,042 workers in 2012, up 7.4% from 176,025 workers in Halton also has a diversified industrial composition, with 88% of establishments operating in the service-based industries and 12% in goods-producing sectors. Retail, health care and social assistance, and professional services have the highest concentrations of establishments in Halton. The manufacturing sector represented 8% of all businesses in 2012, but accounted for 17% of total employment in Halton. Distribution of Establishments in Halton, 2012 Distribution of Establishments in Halton Total Number of Establishments in Halton: 12,211 by Size Category, 2012 Oakville 38% Milton 14% Burlington 38% Halton Hills 10% 6 to 9 Employees 18% 10 to 49 Employees 26% 1 to 5 Employees 50% 50 to 99 4% 100 to 499 Employees 2% 500 Employees And Over 0% Source: Halton Region Employment Survey, Goods- Producing Sector Service-Based Sector Retail Trade Other Services Health Care & Social Assistance Professional, Scientific & Technical Services Accommodation & Food Services Manufacturing Wholesale Trade Finance & Insurance Information / Cultural / Recreation Educational Services Construction Business and Support Services Transportation & Warehousing Real Estate & Rental & Leasing Public Administration Primary Industry Utilities Source: Halton Region Employment Survey, 2012 Distribution of Establishments in Halton by Sector, ,000 1,500 2,000 2,500 Number of Establishments

31 Distribution of Employment by Municipality, Distribution of Employment by Municipality, Number of Employees 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 Source: Halton Region Employment Survey, Oakville Burlington Milton Halton Hills Source: Halton Region Economic Development, 2013 Top Private Sector Employers in Halton, 2012 Business Name Municipality Industry Sector Ford Motor Company (Canada) Oakville Transportation Manufacturing Fearmans Pork Inc. Burlington Food Manufacturing Cogeco Cable Burlington Telecommunications Goodrich Landing Gear Services Oakville and Burlington Transportation Manufacturing Dufferin Construction Company Oakville Construction of Building Karmax Heavy Stamping Milton Transportation Manufacturing Mold-Masters Ltd. Halton Hills Machinery Manufacturing TDL Group (Tim Horton's) Oakville Management of Companies AMEC Oakville and Burlington Professional Services Evertz Microsystems Ltd. Burlington Computer and Electronics Manufacturing Manheim Auto Auctions Company Milton Motor Vehicle Wholesale L-3 Communications Wescam Inc. Burlington Data Processing and Hosting Gordon Food Service Milton Food and Beverage Wholesale UPS Supply Chain Solutions Burlington and Oakville Couriers Watchtower of Canada Halton Hills Religious Organization Sobeys Milton Food and Beverage Distribution GE Water + Process Technologies Oakville Machinery Manufacturing Automodular Corp. Oakville Transportation Manufacturing Canadian Tire Financial Services Oakville and Burlington Credit Intermediation CPI Communications and Power Industries Halton Hills Computer and Electronics Manufacturing 31

32 Source: Halton Region Economic Development, 2013 Top Public Sector Employers in Halton, 2012 Business Name Municipality Industry Sector Halton District School Board Burlington Educational Services Oakville-Trafalgar Memorial Hospital Oakville Hospital Halton Region Administration Oakville Municipal Administration Joseph Brant Memorial Hospital Burlington Hospital Sheridan College Institute of Technology and Advanced Learning Oakville Educational Services Halton Regional Police Services Halton Region Municipal Administration Town of Oakville Oakville Municipal Administration City of Burlington Burlington Municipal Administration Acclaim Health and Community Care Services Oakville Health Care Services Canada Post Oakville Oakville Postal Service C.G. Byrnes Catholic Education Centre Burlington Educational Services Thomas Merton Centre for Continuing Education Oakville Educational Services Royal Canadian Mounted Police Milton Federal Government Administration Town of Milton Milton Municipal Administration Georgetown Hospital Halton Hills Hospital Town of Halton Hills Halton Hills Municipal Administration Appleby College Oakville Educational Services White Oaks Secondary School Oakville Educational Services Target Sectors Among the action items included in the Halton Economic Development Strategy was to take a more proactive approach in the attraction and retention of both emerging and established growth sectors within the Greater Toronto Area in order to achieve the fiscal benefits of high-quality, high-density employment. The Strategy identified seven target industry sectors for the Region s investment attraction efforts; namely, Advanced Manufacturing, CleanTech, Digital Media, Financial Services, Information and Communication Technology (ICT), Life Sciences and Biotechnology, and Professional and Business Services. Using a North American Industry Classification categorization to define these priority sectors, the following presents key findings in each of the target sectors from the 2012 Employment Survey. Halton's Target Sectors Number of Establishments & Full-time Equivalent Employees, 2012 Sector Number of Full-time Number of Establishments Equivalent Employees Advanced Manufacturing ,960 Clean Tech 330 5,975 Digital Media 210 4,140 Financial Services 400 4,500 Information & Communications Technology (ICT) 300 8,375 Life Sciences & Health Care 1,260 12,775 Biotechnology 190 4,560 Professional & Business Services 1,415 16,630 Source: Halton Region Employment Survey,

33 Advanced Manufacturing Halton has a well-established manufacturing sector that is engaged in a range of advanced technologies; from automated processes in the automotive sector to leading edge technologies in the aerospace sector. Approximately 330 businesses operated in the advanced manufacturing sector in Halton in 2012, employing a combined 13,960 full-time equivalent workers onsite and offsite. Distribution of Advanced Manufacturing Establishments in Halton, 2012 Agricultural, Construction and Mining Machinery Mfg. Industrial Machinery Mfg. Commercial and Service Industry Machinery Mfg. HVAC and Commercial Refrigeration Equipment Mfg. Metalworking Machinery Mfg. Engine, Turbine and Power Transmission Equipment Mfg. Other General Purpose Machinery Mfg. Computer and Peripheral Equipment Mfg. Communications Equipment Mfg. Audio and Video Equipment Mfg. Semiconductor and Other Electronic Component Mfg. Navigational/Measuring/Medical/Control Instruments Mfg. Manufacturing and Reproducing Magnetic and Optical Media Electric Lighting Equipment Mfg. Household Appliance Mfg. Electrical Equipment Mfg. Other Electrical Equipment and Component Mfg. Motor Vehicle Mfg. Motor Vehicle Body and Trailer Mfg. Motor Vehicle Parts Mfg. Aerospace Product and Parts Mfg. Medical Equipment and Supplies Mfg. Source: Halton Region Employment Survey, % 1% 2% 2% 1% 2% 2% 1% 2% 2% 2% 3% 3% 4% 4% 5% 6% 7% 9% 0% 5% 10% 15% 20% 11% 11% 21% Clean Tech The clean tech sector consists of establishments and the associated jobs that produce goods and services with an environmental benefit or adds value to such products. Approximately 300 businesses operated in the Clean Technology sector in Halton in 2012, employing over 5,975 full-time equivalent workers onsite and offsite. Distribution of Clean Tech Establishments in Halton, 2012 Electricity Generation, Transmission and Distribution 2% Water, Sewage and Other Systems 4% Resin, Synth. Rubber and Fibre and Filament Mfg. 1% Pesticide, Fertilizer and Other Agr. Chemical Mfg. 0% Power Boiler and Heat Exchanger Mfg. 1% Ventilation, Heating, AC and Refrig. Equipment Mfg. 4% Turbine and Turbine Generator Set Unit Mfg. 1% Measuring, Medical, and Controlling Device Mfg. 10% Electric Equipment, Appliance and Component Mfg. 1% Recyclable Material Wholesale 4% Architectural, Engineering and Related Services 49% Management, Scientific and Technical Consulting Services 7% Scientific R&D Services 9% Waste Treatment and Disposal 2% Remediation and Other Waste Mgmt. Services 2% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Source: Halton Region Employment Survey,

34 Digital Media Halton has a growing interactive digital media sector. While the digital media sector is a relatively new addition to multimedia industries, it is quickly becoming a key component to this creative cluster of industries. The digital media industry is involved in the electronic transmission of digitized content. It is comprised of both creators (entities creating the end-user experience) and enablers (entities offering products and services that enable the creation or distribution of content and environments to end users). Approximately 210 businesses operated in the digital media sector in Halton in 2012, employing 4,140 full-time equivalent workers onsite and offsite. Distribution of Digital Media Establishments in Halton, 2012 Source: Halton Region Employment Survey, 2012 Post-Production and Other Motion Picture and Video Industries, 1% Post-Production and Other Motion Picture and Video Industries, 1% Computer Systems Design and Related Services, 53% Advertising Agencies, 20% Advertising Agencies, 20% Television Broadcasting, 0% Computer Systems Design and Related Services, 53% Software Publishers, 5% Motion Picture and Video Production, 1% Graphic Design Services, 15% Data Processing, Hosting and Related Services, 4% Internet Publishing and Broadcasting and Web Search Portals, 1% Television Broadcasting, 0% Motion Picture and Video Production, 1% Graphic Design Services, 15% Software Publishers, 5% Data Processing, Hosting and Related Services, 4% Internet Publishing and Broadcasting and Web Search Portals, 1% Financial Services Halton Region has a well-established financial services sector providing a range of financial and investment services to commercial and retail customers. Often, the financial services sector is examined in the context of the wider financial market including the insurance, real estate, rental and leasing subsectors, which combined is referred to as the F.I.R.E. sector. Approximately 400 businesses operated in the financial services sector in Halton in 2012, employing over 4,500 full-time equivalent workers onsite and offsite. Distribution of Financial Services Establishments in Halton, 2012 Securities and Commodity Contracts Intermediation and Brokerage, 15% Other Financial Investment Activities, 33% Pension Funds, 1% Other Funds and Financial Vehicles, 0% Activities Related to Credit Intermediation, 10% Depository Credit Intermediation, 32% 34 Source: Halton Region Employment Survey, 2012 Non-Depository Credit Intermediation, 9%

35 Information and Communications Technology (ICT) Halton has a vibrant and growing information and communications technology (ICT) sector that is bolstered by the region s highly skilled labour force. Approximately 300 businesses operated in the ICT sector in Halton in 2012, employing over 8,375 full-time equivalent workers onsite and offsite. Distribution of ICT Establishments in Halton, 2012 Computer and Peripheral Equipment Mfg. 2% Comunications Equipment Mfg. 1% Audio and Video Equipment Mfg. 2% Semiconductor and Other Electronic Component Mfg. 3% Navigational, Measuring, Medical and Control Instrument Mfg. Software Publishers Motion Picture and Video Industries Sound Recording Industries Radio and Television Broadcasting Wired Telecommunications Carriers Wireless Telecommunications Carriers Satellite Telecommunications Other Telecommunications Data Processing, Hosting and Related Services Internet Publishing and Broadcasting and Web Search Portals Computer Systems Design and Related Services Scientific Research and Development Services 3% 3% 3% 2% 1% 2% 3% 0% 5% 11% 11% 12% 37% 0% 5% 10% 15% 20% 25% 30% 35% 40% Source: Halton Region Employment Survey, 2012 Life Sciences and Biotechnology Halton has an expanding life sciences and biotechnology industry. Halton is home to leading edge biomedical researchers, developers, service providers and manufacturers. The life sciences sector is largely made-up of health services, while the biotechnology sector is broad covering biochemistry and genetic engineering to pharmaceuticals and medical services. Approximately 1,260 businesses operated in the life sciences and health care sectors in Halton in 2012, employing 12,775 full-time equivalent workers onsite and offsite. Distribution of Life Sciences / Health Care Establishments in Halton, 2012 Ambulatory Health Care Services, 83% Ambulatory Health Care Services, 83% Hospitals, 1% Nursing and Residential Care Facilities, 3% Social Assistance, 13% Social Assistance, 13% Hospitals, 1% Nursing and Residential Care Facilities, 3% Source: Halton Region Employment Survey,

36 The biotechnology sector, meanwhile, consisted of 190 businesses in 2012, employing approximately 4,560 full-time equivalent workers onsite and offsite. Distribution of Biotechnology Establishments in Halton, 2012 Medical Equipment and Supplies Mfg., 12% Pharmaceutical, Toiletries, Cosmetics and Sundries Wholesale, 14% Measuring, Medical and Controlling Device Mfg., 16% Testing Laboratories, 10% Chemical Manufacturing, 34% Research and Development in the Physical, Engineering and Life Sciences, 14% Source: Halton Region Employment Survey, 2012 Professional and Business Services Halton has an established professional and business services sector that is bolstered by the region s highly skilled labour force. Professional and business services refer to knowledge-based organizations that provide skilled, technical services to clients and businesses. Approximately 1,415 businesses operated in the Professional and Business Services sectors in Halton in 2012, employing over 16,630 full-time equivalent workers onsite and offsite. Distribution of Professional and Business Services Establishments in Halton, 2012 Legal Services Accounting and Bookkeeping Architectural and Engineering Specialized Design Services Computer Systems Design Management, Scientific and Technical Consulting Scientific R&D Services Advertising Other Professional Services Office Administrative Services Facilities Support Employment Services Business Support Services Travel Arrangement and Reservation Building and Dwelling Services Other Support Services 0% 1% 2% 3% 4% 4% 4% 5% 7% 8% 9% 9% 10% 11% 12% 12% 0% 2% 4% 6% 8% 10% 12% Source: Halton Region Employment Survey,

37 Employment Lands Halton s employment areas are an integral part of the Region s economic development potential. Halton has fourteen existing and seven planned employment areas, as summarized on the map on page 38. Existing Employment Areas The majority of Halton s existing employment areas are located in South Halton within Burlington and Oakville. Employment areas within Burlington include the QEW East and West Employment Districts and the Burlington Urban Growth Centre (UGC). Oakville s employment areas include the Burloak Employment District, the Midtown Core Employment District (Oakville UGC), QEW East and West Employment Districts, and Winston Park Employment District. In North Halton, employment areas are located in both Milton and Halton Hills. Designated employment areas in Milton include the Highway 401 Industrial and Business Park and the Milton UGC. Within Halton Hills, employment areas include the 401/407 Gateway Business Park, Acton Employment Area, Georgetown Employment Area, and the Mansewood Industrial Area. Planned Employment Areas The majority of planned employment areas in South Halton, including the North Oakville East Employment District, the North Oakville West Employment District and North Burlington are located along the Highway 407 corridor. The exception is the Winston Park West Employment District, which is located just north of the junction of Highway 403 and the QEW. In North Halton, the planned 401 Industrial and Business Park Expansion Area, Derry Green Corporate Business Park and the Trafalgar/Derry Lands in Milton and the 401/407 Gateway Business Park Expansion Area in Halton Hills are located along the Highway 401 corridor. The Milton Education Village/CN Lands are located on the west side of Tremaine Road near Britannia Road. 37

38 Halton Region Existing and Planned Employment Areas Source: Halton Region Investment Readiness and Competitiveness Study Watson & Associates Economists Ltd., 2012 Employment Land Absorption Across Halton, 2012 Municipality Hectares (ha.) Burlington 5 Halton Hills 32 Milton 69 Oakville 15.2 HALTON REGION Source: Local Municipal Economic Development Departmetns 38

39 First Line Brant St First Line Trafalgar Rd Fifth Line Tremaine Rd Burloak Dr First Line Trafalgar Rd Fifth Line Burloak Dr Brant St Brant St Britannia Rd Trafalgar Rd Fifth Line Burloak Dr Building Distribution Traditional manufacturing buildings and distribution/ logistics warehousing buildings are concentrated almost exclusively on employment lands adjacent to major highways. The establishments located in rural areas for both building types are also situated along major roadways. Mid-rise office buildings major office buildings are concentrated in the downtown cores of Burlington and Oakville as well as along the Queen Elizabeth Way. Though there are fewer mid to high rise office buildings in Milton and Georgetown, the location pattern is similar, with these establishments located along Highway 401 or on the major downtown streets. Distribution/ Logistics Warehouse in Halton, 2012 Derry Rd No 25 Sideroad No 10 Sideroad Steeles Ave Fifth Line Guelph Line Nassagaweya-Esquesing Tline Regional Road 25 Milton Fourth Line No 15 Sideroad Trafalgar Rd Halton Hills No 5 Sideroad Steeles Ave Derry Rd < Tenth Line Winston Churchill Blvd Britannia Rd Appleby Line Guelph Line Regional Road 25 Britannia Rd Traditional Manufacturing Building in Halton, 2012 No 25 Sideroad Guelph Line Fifth Line Regional Road 25 Fourth Line No 15 Sideroad Trafalgar Rd Halton Hills Tenth Line Winston Churchill Blvd Dist. / Logistics Warehouse Highways Major Roads Employment Area Municipal Boundaries Rail Line Urban / Hamlet Area %` Plains Rd %Î < Burlington Dundas St < Walker's Line Upper Middle Rd Bronte Rd Rebecca St Dundas St Upper Middle Rd New St Lakeshore Rd Lake Ontario Oakville Winston Churchill Blvd No 10 Sideroad Steeles Ave Derry Rd Britannia Rd Guelph Line Appleby Line Nassagaweya-Esquesing Tline Tremaine Rd Milton Regional Road 25 Steeles Ave Derry Rd Britannia Rd No 5 Sideroad < Office Buildings in Halton, 2012 No 25 Sideroad Fifth Line Guelph Line Traditional Manufac. Build. Highways Major Roads Employment Area Municipal Boundaries Burlington Dundas St %Ó Winston Churchill Blvd Rail Line Urban / Hamlet Area %` Plains Rd %Î Dundas St < Walker's Line New St Upper Middle Rd Bronte Rd Oakville Rebecca St Upper Middle Rd Lakeshore Rd Lake Ontario Guelph Line Nassagaweya-Esquesing Tline Regional Road 25 Fourth Line No 15 Sideroad Trafalgar Rd Halton Hills Tenth Line Winston Churchill Blvd No 10 Sideroad No 5 Sideroad Steeles Ave Derry Rd Appleby Line Tremaine Rd Milton Regional Road 25 Steeles Ave Derry Rd Mid-rise (3 to 6 storeys) Britannia Rd High-rise (7 or more storeys) Highways Major Roads Employment Area Municipal Boundaries Rail Line Urban / Hamlet Area Plains Rd Burlington Dundas St Walker's Line New St Upper Middle Rd Bronte Rd Oakville Rebecca St Dundas St Upper Middle Rd Lakeshore Rd Winston Churchill Blvd Lake Ontario 39

40 Entrepreneurship & Innovation Halton Region s Small Business Centre Halton Region s Small Business Centre delivers a number of programs and services with an objective to empower small and medium-sized enterprises and give them the tools to achieve success. By supporting entrepreneurialism, the Region is supporting the potential for increased employment opportunities in communities across Halton. The following section highlights major programs delivered in 2012 and describes the impact of the Centre s services to entrepreneurs across the Region. Since CYBF s inception in 1996, the Toronto-based organization has helped over 4,750 entrepreneurs across Canada aged launch and sustain successful businesses by providing pre-launch coaching, start-up financing, resources and mentorship. CYBF entrepreneurs have created more than 18,600 new Canadian jobs, generated over $129-million in tax revenue, and contributed hundreds of millions of dollars in sales and export revenue. Thank you very much for your help. Halton Small Business Centre gave us a good road map and a starting point. It is good to know that there is a place we can turn for help. Nilgun Seyhun International Women s Day Business Event for Women Entrepreneurs Canadian Youth Business Foundation Partnership On Wednesday, January 25, 2012 Halton Region officially launched a new partnership between the Canadian Youth Business Foundation (CYBF) and Halton Region s Small Business Centre. The partnership addresses a key strategic direction in Halton s Economic Development Strategy, to empower young entrepreneurs to start and grow their businesses in Halton. Through the partnership, Halton Region s Small Business Centre will provide CYBF Entrepreneurs with pre-launch coaching including support with business planning, market research, operational planning and guidance during the CYBF application process. On Tuesday, March 6, 2012, in celebration of International Women's Day (March 8), Halton Region s Small Business Centre, in partnership with the Ontario Ministry of Economic Development, Trade and Employment, hosted a business event for Women Entrepreneurs to learn, connect and soar! The event featured a number of successful local women entrepreneurs including an inspiring keynote address from Julia Hanna, Restaurateur and dynamic presentations from Wendy Marlow, The Art of Marketing, Inc. and Christel 40

41 Wintels, Executive Director and Franchise Owner, BNI Golden Horseshoe Region. The session also included a panel discussion from Access to Professionals members as well as extensive networking opportunities. According to Statistics Canada, between 1999 and 2009, the number of self-employed females increased by 13 per cent compared with 10 per cent for men. In 2010, over 900,000 of the 2.6 million self-employed workers in Canada were women. Summer Company Turning Ideas Into Business Once again, the Halton Region Small Business Centre worked with young entrepreneurs to help them start and grow their own businesses through participation in the provincially funded Summer Company program. The goal of the program is to support students interested in entrepreneurship as a possible career choice. Students who participate in the Summer Company program receive funding of up to $3,000 an upfront award of up to $1,500 to put toward start-up costs and up to $1,500 upon successful completion of the program from the Ontario Ministry of Economic Development, Trade and Employment. In addition to the financial assistance, students receive business training and mentoring from volunteers from the local business community. Summer Company 2012 mentors included: Liz Kush, Senior Account Manager, Business and Personal Markets RBC, South Halton Market Tom Cochran, Consultant, Halton Business Advisory Group Phil Von Massow, Owner, CPL Group Nelia Taylor, Certified General Accountant, BDO Canada LLP This year s eight participants (listed below) were selected from numerous applicants throughout Halton. The variety of businesses selected includes everything from graphic design, exterior painting and swimming lessons to flyer delivery services and more Summer Company Participants: Jestin Miller, Miller's Maintenance, Burlington Brendon Lisi, Surf Sandford Apparel Ben Swallow, RealCurb Paint Alida Carlin, Hometown Painting Mitch Cook, Flyer Hustle Malcolm Halley, MADRAD, Oakville Sarah Hay, Little Fins, Oakville Kate Cowan, K.C. Designs Entrepreneurship Week From November 12 14, 2012, entrepreneurs in Halton Region were invited by Halton Region Small Business Centre and Halton s regional innovation centre, HalTech to attend the second annual Entrepreneurship Week (E-Week) event at the Burlington Convention Centre. E-Week is a three-day event developed to spotlight local businesses within a variety of industries, including healthcare, software development, advanced manufacturing and marketing. By connecting innovative inventors to the services and resources available in Halton, E-Week keeps the cycle of success in motion. E-week events provided a wonderful learning experience and plenty of networking opportunities for people already in business, as well as those just now considering entrepreneurship as a career. With mentors from local businesses sharing their expertise and business savvy, those looking to grow their own business or find customers for current ventures were given access to great tools for success. Speakers, including Sunjay Nath, Charles Plant, Ralph Benmurgui and Ian Portsmouth, inspired and informed participants over the three days on topics such as leadership and social media. Looking to build on community connections, 2012 Entrepreneurship Week was proud to support Food for Life by donating surplus food from the event. Additionally, in lieu of gifts for speakers, HalTech made a donation to Big Brothers and Big Sisters of Halton so that mentorship can begin at an age where it can make a big difference. I would like to thank you for your time and all of the great information you passed on. It was very helpful and is comforting to know that your organization is there with all of these resources. Thanks so much. Mike Lester 41

42 The Halton Region Small Business Centre... gave me a foundation so that I could take my ideas... and execute them. I will continue to use the support and services that the Small Business Centre offers so that I can keep my business on track. -T. Dreensen Over the past 10 years, Halton Region Small Business staff have responded to over 65,500 inquiries and met with over 6,800 clients in one-on-one consultations. Aimee Vapsva Artistic Dance Scene The Halton Region s Small Business Centre s client, Artistic Dance Scene ran its first classes in the beginning of September These first classes followed an extensive renovation over the summer converting existing retail space into two dance studios which include spring engineered floors. At the end of August, the entrepreneur ran an open house to invite prospective students to tour the facility. Following her open house, many classes were sold to capacity. There has now been enough demand to employ the entrepreneur full time, 4 additional dance instructors and 2 part time students as administrative support Success Stories Shelley Gable Heart in Hand Halton Region s Small Business Centre assisted Shelley Gable during the business planning and start-up and phase of her business, Heart In Hand Mastectomy Boutique. The boutique, specializing in prosthetics, mastectomy and compressive garments, bras, bathing suits, hats and wigs opened in October The company is registered with the provincial government so that clients are able to get funding to help with their purchases. The venture has created two jobs including a certified mastectomy and ADP Registered Lymphedema Specialist. Tom Ahlin I Care Home Health Services Halton Region s Small Business Centre worked alongside Tom Ahlin and his two business partners to get their business, I Care Home Health Services", off the ground. The business provides several different services such as: Friend at Home, Personal Support at Home as well as Nurse at Home. By August 2012, the company had hired 12 full time people in addition to the partners, for a total of 15 jobs. Halton Small Business Centre Outreach Quick Facts, 2011 vs 2012 Category % Change Total Inquiries (telephone/ % /walk-in visitors) Client Consultations % Seminars and Workshops % Seminar and Workshop attendance % Source: Enterprise Centre Reporting System Join the conversation: haltonsbec.wordpress.com Tracey Dreensen Speckles Art Studio Halton Region Small Business Centre began working with Tracey Dreensen in January Her vision was to start a children s art studio that would provide art classes, cater to birthday parties and deliver an art camp during the summer. Centre staff helped Tracey translate her vision into a business plan and by May, things started to fall into place. Tracey hosted a Grand Opening in her Oakville location on June 23, The studio was full of children and parents having fun and being very creative. Tracey s art studio now employs four people. 42

43 Quality of Place Physician Recruitment Program Continues to Shine According to an update presented to Regional Council on March 27, 2013, 22 new family physicians established their practice in Halton in Overall, Halton Region s Physician Recruitment program has helped bring 182 new family doctors to Halton since Halton s collaborative approach to physician recruitment is a key factor in the program s success, said Gary Carr, Halton Regional Chair. Working together with our four Local Municipalities, local hospitals, clinics and community representatives, we are achieving our goal of protecting public health by attracting new physicians to establish and maintain medical practices here in Halton. Halton s physician retention rate is 74 per cent, representing 134 full time permanent physicians, taking into account retirements, relocations and physicians who took over family practices since Halton Region also supports the Halton McMaster Family Health Centre family medicine teaching unit, which will move to its permanent location at Joseph Brant Memorial Hospital in There are six first year and five second year family medicine residents based at the Halton McMaster site. The second year residents will graduate later this year and this July, eight new first year residents will join the program. Additionally, the program provides ongoing support, together with the Town of Halton Hills, to the Ministry of Health and Long-Term Care s funded Nurse Practitioner program at the Acton Medical Clinic. The Halton Physician Recruitment program s award winning marketing and promotion strategy includes, among other things, community tours and physician meetings for prospective family physicians, a website participation in national and provincial trade shows, recruiting and networking events and a targeted advertising campaign. The following table provides information on the number of full time permanent family physicians recruited to Halton and which municipality their practice was established in since the program began in 2003: New Full-Time Halton Family Physicians Recruited to Halton Year Burlington Halton Hills Milton Oakville Yearly Total Total Award-Winning Halton Physician Recruitment Program In February 2012, the Economic Developers Council of Ontario (EDCO) presented Halton Region with an EDCO Marketing Award under the Physician Recruitment category for its 2010 to 2011 marketing and promotion strategy, including the 2011 Docs on Ice project.. Doc s on Ice is a charitable hockey tournament held in partnership with the local Doctor s Hockey Club, a hockey team of physicians from across Halton and Mississauga. The tournament raised over $150,000 for the Alzheimer Society of Hamilton Halton. As a result of the funds raised, the Society s Oakville office was able to locate to new premises, pay for renovations and lease costs for three years. The new Docs on Ice Dementia Resource Centre on Wyecroft Rd. in Oakville officially opened in January This strategy was also honoured as one of four finalists for the EDCO Lieutenant Governor General s Award for Marketing Excellence for

44 Tourism Halton Region Tourism Overview In 2012, Halton Region worked with PKF Consulting Inc. to undertake a Tourism benchmarking exercise to understand the current Tourism profile for Halton to identify trends and market performance and to inform future Tourism support activities in the region. The results are for 2010, the latest year in which full data is available. Key results are as follows: Visitor Volumes Approximately 2.9 million tourists visited Halton in 2010, representing a 7% decline from 2008 visitation levels of 3.1 million About nine-in-every-10 visitors to Halton are Canadian, with approximately one-half coming a relatively short distance from the Toronto Census Metropolitan Area About one-in-seven tourists to Halton in 2010 were American, which represents an increase of 27,000 visits over the past three years Overseas visitors to Halton represented less than 3% of visitor volumes in 2010 Length of Stay Of the total tourists to Halton in 2010, close to three-inevery-four visitors were on same-day excursions while 27% (777,000) spent at least one night in Halton Main Purpose of Visits Approximately 64% of tourists to Halton Region in 2010 were to see friends and relatives (VFR). About one-inevery-four trips are driven by pleasure and one-in-12 are business trips or for other personal reasons. Visitor Spending Halton s tourists spent about $204 Million in the Region during 2010, down from $293 Million in 2008, representing a 30% decrease. The average spending per overnight visit in Halton was $162 with same day visitors spending an average of $36 per day, down 29% from $51 in Tourism Employment Halton Region employed 21,050 persons in 1,761 tourism businesses in 2010, which represents 3% of Ontario s tourism sector labour force and businesses. Between 2006 and 2010, tourism sector employment in Ontario grew by 7% from 622,315 to 668,945 employees Accommodations Over the period from 2007 to 2011, accommodation demand has outpaced supply growth in Halton Region, with demand increasing by over 10%, compared to a 4.6% increase in supply. Occupancy rates have risen from 57% in 2007 to an estimated 60.5% in 2011, indicating an additional 47,500 occupied room nights captured in the market. Following negative growth in 2008 and 2009, accommodation demand increased by 9.5% in 2010 and a further 5.4% in Over the past five years, Average Daily Rates for accommodation in Halton peaked in 2008 at $108.47, before declining by 3.6% in 2009 with the onset of the economic recession and since then have been flat at $104. Revenue Per Available Room in Halton rebounded in 2011 to $63.17, its highest level in the past five years. 44 Visitor Activities Between 2008 and 2010, 12% to 16% of all visitors to Halton Region engaged in some form of outdoor or sports activity, representing 350,000 to 500,000 visits Since 2008, visitor activities which have seen the most growth include: Downhill Skiing/Snowboarding (up over 1000% due to improvements at the Glen Eden Ski and Snowboard Centre) Sports Events (up 91%); Cultural Performances (up 24%); and Museums and Art Galleries (up 16%).

45 Visitation to Halton Region by Main Purpose % Chg 2010 % Chg Halton Region % Chg Source: Statistics Canada, Travel Survey of Residents of Canada and International Travel Survey prepared for Ontario Ministry of Tourism, Culture and Sport, Ontario % Chg Total Visits (000s) 3,138 3,003-4% 2,927-3% -7% 3% VFR 1,900 1,871-2% 1,863 0% -2% 8% Pleasure % % -22% 0% Business % % -26% -4% Other Personal % % 88% -6% Halton Region Historic Accomodation Market Performance, TOTAL ACCOMMODATION MARKET Rooms 2,205 2,175 2,283 2,305 2,306 Annual Occupancy 57.4% 57.8% 53.0% 57.7% 60.5% Average Daily Rate $ $ $ $ $ RevPar $60.23 $62.73 $55.38 $59.26 $63.17 Available Room Nights 804, , , , ,570 Occupied Room Nights 461, , , , ,402 Room Revenue $48,471,101 $49,792,755 $46,156,425 $49,856,372 $53,158,628 MARKET GROWTH Available Rooms na -1.4% 5.0% 0.9% 0.0% Occupied Room Nights na -0.6% -3.8% 9.5% 5.4% Average Daily Rate na 3.4% -3.6% -1.3% 1.2% Source: PKF Consulting Inc. 45

46 Attendance At Major Halton Attractions (000s) Attractions % Chg 2010 % Chg 2011 % Chg Halton Region %Chg Halton Conservation Areas (5 Parks) % % % 14% Glen Eden Ski and Snowboard % % % 85% Centre Bronte Creek Provincial park (Est) 369 3% % % -11% Royal Botanical Gardens % % % -15% Halton Region Museum % 7.3-3% % 2% TOTAL ATTENDANCE 1, , % 1, % 1, % 13% Source: PKF Consulting Interviews with Halton Attraction Operators, November 2012 Attendance at Major Halton Attractions Due to major capital investments in chairlift capacity and snow making techniques, Glen Eden has almost doubled its attendance levels between 2008 and 2011 Attendance at Halton Conservation Area s five other parks has also increased by 14% from 405,500 in 2008 to 467,700 in 2011 Attendance levels at Bronte Creek Provincial Park, Royal Botanical Gardens and Halton Museum increased between 2008 and 2009, but experienced declines ranging from 3% to 15% over the 2010 to 2011 period. From a cumulative perspective, attendance levels at Halton Region s 10 major attractions have improved by 13% between 2008 and 2011, from 1.17 Million to 1.32 Million. Attendance at Major Events Attendance levels at Burlington s events, many of which are held at Spencer Smith Park on the downtown s waterfront, have improved by 24% since 2008, increasing from 486,500 visitors in 2008 to 605,000 in The inaugural Rotary Family Ribfest in Oakville was held for the first time in 2012 at the Sheridan College campus, which attracted 23,250 attendees. Approximately 3,500 (15%) of the attendees were from outside Oakville. Since 2008, the Town of Milton has increased its sport tournament activity from 15 events, with an estimated attendance of 13,050 to 25 events, with approximately 18,550 participants and spectators, representing a 42% increase in sport tourism attendees. Agri-Tourism Action Plan In December 2012, Halton Region contracted with the Ontario Culinary Tourism Alliance to develop an Agri- Tourism Action Plan for the Region. The project, which is expected to be completed by Spring 2013 will provide direction for Halton Region s priorities in Agri-tourism and Culinary-tourism development and service delivery. Halton Tourism Launches New Pinterest Site In April 2012 Halton Tourism officially launched its Pinterest page. Pinterest is an online content sharing site that allows members to "pin" images, videos and other objects to their pinboard. Users can collect and share their favourite sites or pages and showcase them in a unique way. Halton Tourism s new virtual pin board features 20 themes and categories, including Festivals & Events, Outdoor Adventure, Golf, Dining & Shopping, Hotels, Waterfront & Beaches and more. Each category links to Halton-based websites and online content, with over 250 individual pins. The Halton Tourism Pinterest page has received great attention since its launch, with many new followers and repins. For more information, visit Join the conversation:

47 Economic Development Team Members John Davidson Director Ext Thank you to our sponsors, RBC, and the Ministry of Economic Development, Trade and Employment Sandra Nuhn Manager, Entrepreneurship & Innovation Ext Bethany Moir Manager, Economic Development Ext Christine Carrington Economic Development Research Analyst Ext Margaret Gaskell Economic Development Coordinator Ext Janet Marquez Tourism Development Coordinator Ext Stephanie Mazhari Economic Development Officer Investment Ext Angela Sugden Praysner Physician Recruitment Coordinator Ext Catharine Frith Business Consultant Ext Partners Member of the Greater Toronto Marketing Alliance Tourism Burlington Burlington Chamber of Commerce Halton Hills Chamber of Commerce Milton Chamber of Commerce Oakville Chamber of Commerce Burlington Public Library Halton Hills Public Library Oakville Public Library Milton Public Library Sheridan Institute of Technology and Advanced Learning HalTech Robert Manning Business Consultant Ext Cameron Tulloch Business Consultant Ext Nancy Malloy Administrative Assistant Ext Claudia Nachevski Program Assistant x