Building & Construction
Sector Facts – York Region
- York Region is Ontario’s 2nd largest building & construction market after Toronto
- York Region: Canada’s 3rd largest residential construction volume after Vancouver and Toronto
- $3.5 billion total local construction value in York Region in 2012, of which 1/3 ICI
- Local building industry cluster of over 10,000 companies and trades contractors
- Home to the Toronto Construction Association and the Construction Institute of Canada
- Some of North America’s largest mixed use development projects currently under development
- Home to many of Canada’s leading construction engineering and development groups such as Brookfield Homes, Condrain, Greenpark, Smart Centres, Miller Group, Toromont, Liberty Development, Century Grove, MMM and Aecom
Sector Facts – Greater Toronto Area (GTA)
- The City of Toronto, immediately south of York Region, leads North America and the western world in high-rise development: 147 high-rises and skyscrapers under construction as of October 2012, compared to only 72 in New York City (Emporis ‘12)
- Toronto has the most major construction activity in the world (Pwc ’12)
Area Workforce
- Toronto area’s workforce of 4 million is Canada’s largest and most concentrated (25% of total in Canada)
- 67% of York Region’s workforce have post-secondary education (vs. 51% Canada-wide; 37% in the U.S.; 27% in EU)
- Over 1/2 of York Region’s workforce with post-secondary education majored in Engineering, Information Sciences or Business Administration
- The Greater Toronto Area employs nearly half of Ontario’s entire construction labour force (Workforce Planning Board)
- Connected to world’s fastest growing markets – 45% of York Region’s population is foreign born; over 70 languages spoken locally
- Toronto ranks as a city with one of the lowest degrees of overall staffing risk, globally (PwC 2012)
Business Costs
- York Region has the lowest commercial & industrial property taxes in the Greater Toronto Area (GTA) — 25% lower on average
- 11% lower Corporate Income Tax than U.S. avg. (State-Fed) and up to 50% lower employer healthcare costs
- Lower salary costs and lower employee attrition for technology and management roles compared to major U.S. metro areas
- Federal and Provincial SR&ED incentives can cut R&D costs by 40%-60%
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The Bottom Line for Your Business
Locate/Expand in York Region, Greater Toronto: Maximize Your Market Access | Leverage Top Global Talent | Locate Cost-Effectively