|
Halton Celebrates Entrepreneurship Week
From November 15 to 17, Halton Region Small Business Centre and HalTech, Halton's regional innovation centre, celebrated Global Entrepreneurship Week with a series of engaging seminars and events focused on all things entrepreneurial.
"Supporting the growth and success of innovative businesses in Halton is one of our key priorities," said Halton Regional Chair Gary Carr. "We are fortunate to be able to partner with HalTech and RBC Royal Bank to offer such high calibre Entrepreneurship Week events."
The seminars held at the Sheridan College Institute of Technology and Advanced Learning in Oakville included topics such as communication, marketing and branding, perfecting a business pitch, mastering social media and Angel investing.
"The Halton Region Small Business Centre works hard year round to provide information and services to assist in establishing or expanding small business in Halton," said John Davidson, Director, Economic Development for Halton. "Entrepreneurship Week provides a wonderful opportunity to showcase these efforts, along with those of HalTech, and reach out to people who may not yet be aware of our services."
The week's events were capped off with HalTech Connect, a networking event for start-ups to connect with peers and the business community. The event also featured a showcase of industry collaborations from the Applied Research and Commercialization (ARC) Initiative funding awarded to Sheridan College.
|
|
Halton Economic Development Strategy Approved
On December 14, 2011, Halton Regional Council approved a new ten-year Halton Region Economic Development Strategic Implementation Plan that will guide Halton Region Economic Development, in partnership with local municipal partners in Burlington, Halton Hills, Milton and Oakville.
The Strategic Implementation Plan:
- builds on the vision for economic development approved by Halton Regional Council last fall
- establishes direction for Halton Region's Economic Development services and programs
- informs decision making for economic development within the Region
In addition, a Strategic Directions Report was developed by Millier Dickinson Blais Inc. which provides directions in five key pillars supporting economic growth in the region, namely:
- Employment lands
- Existing and emerging sectors
- Investment attraction and retention
- Entrepreneurship and innovation
- Quality of Place
Halton Region's Economic Development Division will report back to Council annually on its progress in achieving the Strategic Implementation Plan.
For more information, visit:
www.halton.ca/economicstrategy
|
|
Small Business Centre Quick Facts
| Category | Q3
2011 | Q4
2011 | % Change | Total Inquiries
(telephone/email/ walk-in visitors) |
1,886
| 1,607 | -15% | | Client Consultations | 231 | 217 | -6% | | Seminars & Workshops | 9 | 13 | +44% | | Seminar & Workshop attendance | 91 | 185 | +103% | Source:
Enterprise Centre Reporting System |
|
|
Questions?
If you have any comments or questions about the Q4 2011 Economic Development Report, contact Halton Economic Development at 905-825-6000, toll free at 1-866-4HALTON (1-866-442-5866), or by e-mail to
ecdev@halton.ca
www.halton.ca/business
|
|
|
|
|
|
|
Construction Activity
Halton's total value of new construction and expansions increased during the 4th quarter of 2011 from the same period in 2010, climbing 63% to just over $329 million. The increase was partly attributable to a significant rise in commercial investments during the quarter, which was up 317% from the 4th quarter of 2010. A permit issued for the new parking garage at the Oakville GO Station on Cornwall Road valued at $37.9 million by Metrolinx was the major contributor to the commercial investment increase. Other notable commercial developments included Siemens Canada's new multi-storey office building in Oakville ($16.2 million) and two new office buildings in Oakville's Great Lakes Business Park ($9.4 million, combined).
Residential construction values also increased 86% during the quarter across Halton, reaching nearly $210 million. A new, four-storey condominium on Upper Middle Road in Burlington ($22 million), and several multi-unit dwellings by Valery Homes in Milton contributed to the significant increase over last year.
Industrial construction values were 26% higher than the last quarter of 2010 but remained low in absolute terms, reaching only $7.5 million. Notable developments included a new industrial facility for JM Tek Ltd. in Oakville and an industrial warehouse alteration at the Princess Auto distribution centre in Milton.
Meanwhile, institutional construction slowed during the 4th quarter, with values decreasing 74% from the same period in 2010. A new three-storey elementary school in Burlington valued at $9.5 million was the only notable permit issued during the 4th quarter.
Overall, there were 1,511 building permits issued in Halton during the 4th quarter, which represents a 31% decline from the same period in 2010. Residential permits accounted for 56% of all building permits issued and 18% were Industrial, Commercial or Institutional (ICI) permits.
|
| Construction Value ($ thousand) of New Developments, Q4 2010 vs Q4 2011* | |
Type of Construction
| Burlington | Oakville | Milton | Halton Hills | Halton Region | | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | | Residential | 21,395.5 | 59,409.6 | 35,956.3 | 49,742.5 | 47,789.9 | 88,071.6 | 7,880.4 | 12,464.0 | 113,022.1 | 209,687.8 | | Industrial | 1,231.0 | 2,101.5 | 471.0 | 3,163.7 | 1,588.0 | 2,160.0 | 2,674.1 | 72.0 | 5,964.1 | 7,497.2 | | Commercial | 7,266.2 | 13,485.9 | 6,009.3 | 68,921.0 | 4,928.8 | 1,349.0 | 2,468.5 | 2,340.0 | 20,672.7 | 86,096.1 | | Institutional | 751.0 | 9,596.0 | 13,683.2 | 3,176.2 | 37,385.0 | 381.0 | 5.0 | 375.5 | 51,824.2 | 13,528.7 | | Other | 6,249.6 | 5,897.0 | 853.9 | 2,062.3 | 3,361.4 | 4,235.9 | 688.5 | 421.0 | 11,153.4 | 12,616.2 | | Total Value | 36,893.2 | 90,490.0 | 56,973.7 | 127,065.7 | 95,053.1 | 96,197.6 | 13,716.4 | 15,672.7 | 202,636.4 | 329,426.0 | | * Figures may not add due to rounding | | Source: Local Municipal building departments and Halton Economic Development |
|
| Number of Building Permits Issued in Halton by Type of Development and Municipality, Q4 2010 vs Q4 2011 | | | Residential* | Non-Residential** | Miscellaneous*** | Total |
|---|
| Q4 2010 | Q4 2011 |
Q4 2010
| Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | | Burlington | 104 | 81 | 92 | 90 | 126 | 136 | 322 | 307 |
|---|
| Halton Hills | 41 | 55 | 18 | 14 | 33 | 30 | 92 | 99 |
|---|
| Milton | 223 | 503 | 37 | 33 | 92 | 110 | 352 | 646 |
|---|
| Oakville | 216 | 202 | 70 | 134 | 99 | 123 | 385 | 459 |
|---|
| HALTON REGION | 584 | 841 | 217 | 271 | 350 | 399 | 1,151 | 1,511 |
|---|
|
* includes apartment registrations, renovations and additions
** includes industrial, commercial, institutional (ICI)
*** excluding signs
Source: Local Municipal building departments
|
|---|
|
| Gross Floor Area (square feet) on Non-Residential Developments, Q4 2010 vs Q4 2011* | | | Industrial | Commercial | Institutional | Total ICI |
|---|
|
Q4 2010
| Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | Q4 2010 | Q4 2011 | | Burlington | 28,399 | 112,345 | 306,475 | 291,961 | 27,801 | 68,227 | 362,675 | 472,533 |
|---|
| Halton Hills | 7,105 | 8,019 | 53,342 | 34,089 | 0 | 3,520 | 60,447 | 45,628 |
|---|
| Milton | 408,103 | 136,142 | 60,009 | 36,823 | 226,021 | 7,707 | 694,133 | 180,672 |
|---|
| Oakville | 110,568 | 67,300 | 138,485 | 825,929 | 39,204 | 31,063 | 288,257 | 924,292 |
|---|
| HALTON REGION | 554,175 | 323,806 | 558,311 | 1,188,802 | 293,026 | 110,517 | 1,405,512 | 1,623,125 |
|---|
|
* Excludes site servicing, heating and plumbing. Both new construction, additions and internal alterations are included.
Source: Local Municipal building departments
|
|---|
|
|
Economic Conditions
Halton's economic conditions showed signs of improvement in the 4th quarter from the same period last year. Construction activity was fairly robust as overall values reached $329.5 million, which represents a 63% improvement over 2010. The industrial, commercial and residential sectors all posted gains, as construction values in the institutional sector fell 74%.
In the residential sector, development construction values rose 86% and Halton's resale housing market remained strong with a reported 27% increase in sales listings and 42% decrease in the number of days listings were staying on the market longer on average. Meanwhile, housing prices fell 19% over the same period in 2010, reaching just over $506,000, on average.
The labour market in Halton was relatively stable during the 4th quarter with the region's unemployment rate dropping to 4.8% from 5.1% during the same period in 2010. However, there was also fewer residents participating in the labour market as the participation rate decreased to 71.1% from 74.1% in 2010.
Halton's industrial vacancy rates during the 4th quarter of 2011 dropped to 5.1%, while vacancy rates in the office market rose slightly to 13.5%. Halton's industrial and office markets returned to positive absorption from the previous quarter, with 592,444 sq.ft. absorbed in the industrial market and 62,271 sq.ft. absorbed in the office market. Meanwhile, industrial rental rates dropped in both Burlington and Oakville and climbed marginally in Milton. In the office market, rental rates decreased slightly in Oakville, while rental rates in Burlington posted the highest gains reaching $15.71 sq.ft. from $14.69 sq.ft. the previous quarter.
|
| Halton Economic Indicators, Q4 2010 vs Q4 2011 | | Economic Indicator |
Q4 2010
|
Q4 2011
| Percentage (%) or
Percentage Point
(pp) Change |
|---|
|
Total Population1
| 482,206 | 493,045 | +2.2% |
|---|
| Population Density (per sq km)2 | 499 | 510 | +2.2% |
|---|
| Labour Force3 | 291,200 | 302,321 | +3.8% |
|---|
| Unemployment Rate4 | 5.1% | 4.8% | -0.3pp |
|---|
| Participation Rate4 | 74.1% | 71.1% | -3.0pp |
|---|
| Employment Rate4 | 70.4% | 67.6% | -2.8pp |
|---|
| Employment Insurance Beneficiaries5 | 4,497 |
3,067
|
-31.8%
|
|---|
| Number of Businesses6 | 37,164 | 38,253 | +2.9% |
|---|
| Employment1 | 244,026 | 250,932 | +2.8% |
|---|
| Business Bankruptcies7 | 13 | n/a | n/a |
|---|
| Total Construction Value8 | $202,636,410 | $329,425,982 | +62.6% |
|---|
|
Industrial
| $5,964,053 | $7,497,228 | +25.7% |
|---|
|
Commercial
| $20,672,721 | $86,096,083 | +316.5% |
|---|
|
Institutional
| $51,824,176 | $13,528,702 | -73.9% |
|---|
|
Residential
| $113,022,062 | $209,687,764 | +85.5% |
|---|
| Industrial Vacancy Rate9 | 6.6% | 5.1% | -1.5pp |
|---|
| Office Vacancy Rate10 | 10.7% | 13.5% | +2.8pp |
|---|
| Average Household Income3 | $122,400 | $122,700 | +0.2% |
|---|
| Occupied Dwelling Units1 | 173,962 | 178,232 | +2.5% |
|---|
| Housing Sales11 | 883 | 1,123 | +27.2% |
|---|
| Average Housing Price11 | $628,390 | $506,175 | -19.4% |
|---|
| Average Days on the Market11 | 53 | 31 | -41.5% |
|---|
|
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, 2010 and 2011
4 Statistics Canada, Labour Force Survey Estimates (Custom Tabulation, 3 month moving average, unadjusted)
5 Statistics Canada, Employment Insurance Statistics (Table 276-0006, average number of beneficiaries receiving regular benefits)
6 Statistics Canada, Canadian Business Patterns. As of June 2010 and June 2011
7 Office of the Superintendent of Bankruptcy Canada
8 Local Municipal building departments and Halton Economic Development
9 CBRE. Based on rates in Burlington, Milton and Oakville
10 CBRE. Based on rates in Burlington and Oakville
11 Toronto Real Estate Board, Market Watch
|
|---|
|
|
|
