Investment keeps Brampton economic growth on track

Brampton benefited from more than $1.4 billion in construction activity in 2017, in both new construction and expansions. Development activity and other initiatives, gaining momentum in the city, have resulted in more jobs and investment.

The Brampton Economic Development and Culture Review 2017 is available in print and online. The document highlights last year’s successes and continued positioning for growth this year and beyond. It also features cultural milestones and activity in the city’s key economic sectors, from significant development projects to profiles of local entrepreneurs moving the needle in the business world.

“This past year saw strong partnerships formed, key initiatives advanced,” said Brampton Mayor Linda Jeffrey. “The number of Brampton businesses grew at almost six per cent – outpacing many of our GTA neighbours. Our population growth, youth, quality of life and diversity continue to make Brampton a great place for businesses to invest and families to grow.”

“Brampton is poised for transformation,” said Councillor Jeff Bowman, economic development and culture chair. “An Economic Development Master Plan and a Culture Master Plan are currently under development and a new Brampton 2040 Vision – all important projects supporting the development of cultural vibrancy and economic growth, building a Brampton that is a hub for investment and innovation.”

The master plans are like strategic roadmaps to show a clear direction and actions to support economic growth and future collaboration within the city, the business community, the arts and culture community and with its post-secondary institutions.

In 2017, Brampton city council committed up to $150 million toward a new STEM-focused university and a centre for innovation with two of Canada’s leading post-secondary institutions, Ryerson University and Sheridan College. Brampton’s bid for a second Amazon headquarters, presented in partnership with Toronto Global, made the Amazon shortlist.

Phase one of the new Peel Memorial Centre was completed in 2017. ErinoakKids Centre for Treatment and Development opened this spring, representing a $60 million investment in health care for local and regional children and youth.

“These are exciting times,” says Jeffrey. “Brampton is poised for a successful future and strong economic growth.”

Review 2017 highlights:

  • The regional unemployment rate that continues to decrease, from 7.1 per cent in December 2016 to 5.7 per cent in December 2017.
  • Brampton was ranked 10th in the country for total construction value in 2017, generating over $1.4 billion in investment.
  • Residential construction totaled $1 billion in 2017, accounting for approximately 3,000 housing units.
  • Brampton is home to more than 63,000 businesses, with 280 of them employing more than 100 people
  • In 2017, new commercial construction added 410,000 square feet of floor space to the commercial inventory. 28 retail developments began construction.
  • 4,500 entrepreneurs participated in seminars and events hosted by the Brampton Entrepreneur Centre.
  • The Brampton Entrepreneur Centre delivered $155,000 in provincial funding to Brampton entrepreneurs.
  • 275,653 people attended 505 performing arts events in Brampton.
  • 595,516 people participated in 13 festivals and special events.

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