Site Selection Magazine recently published its 2024 Canada’s Best Locations list, celebrating the top 20 economic development organizations nationwide. This year, clean energy and electric vehicles were the primary themes, reflecting Canada’s wealth of natural resources. Toronto Global was proud to be named on this year’s list, alongside our remarkable municipal partners, whose achievements have also been recognized. Together, we’re driving economic growth and innovation in the Toronto Region.
Invest Brampton
Brampton’s 2023 Economic Development report highlights record growth, with $2.3 billion in construction and 5.36 million square feet of approved development. With thriving areas like the Brampton Innovation District and the BHive incubator, Brampton is also advancing medical innovation through its MedTech Task Force and the upcoming Toronto Metropolitan University medical school.
Invest Durham
Durham Region saw remarkable growth in 2023, attracting $250 million in investment and creating 3,000 jobs in Oshawa alone. Industrial permits set a record at $128 million, while construction permits across the region reached $639 million. Durham Region’s population grew by 9.3% over five years and is projected to reach 1.3 million by 2051. Notable projects include the all-Canadian electric vehicle Project Arrow and Durham College’s new EV training centre.
Invest Halton
Halton Region’s 2023 economic review showcases $2.8 billion in construction permits, 3,300 new jobs, and 2.4 million square feet of industrial development. Oakville and Burlington led the charge, with Oakville seeing record industrial growth of over 2 million sq. ft. and $175 million in construction, alongside a booming film and TV production sector. Prime Minister Justin Trudeau recently visited Halton Region to promote housing development on public lands to support this fast-growing area.
Invest Mississauga
Mississauga, a key economic hub for Ontario and Canada, welcomed 1,770 new jobs in 2023. The city launched SpinUp, its first venture incubator and wet lab for early-stage life sciences companies, alongside the existing IDEA Mississauga & IDEA Square One entrepreneurship hub. Recently named the top Canadian city for tech talent, Mississauga saw the largest influx of tech workers in Canada, with 1,900 new hires. The City’s Community Improvement Plan is transforming a former industrial area into a 20-acre innovation campus expected to generate 9,000 jobs in cleantech, life sciences, and tech. Mississauga also participated in international investment missions and hosted 12 EU consuls general.
York Region Economic Strategy/York Link
York Region, home to over 1.2 million residents across nine cities and towns, is Ontario’s third-largest municipality and business hub. With a prime GTA location, major transit investments, ready employment sites, and competitive tax rates, York is a prime destination for business and innovation. It boasts Ontario’s third-largest manufacturing sector and key industry clusters in automotive, technology, agri-food, warehousing, and life sciences.
Learn more about the Toronto Region’s advantage here.