Economic and Development Review showcases Region’s versatility and economic expansion
NEWMARKET – The Regional Municipality of York today released the Economic and Development Review 2007, which examines and reflects upon various demographic trends, economic indicators and building activity within York Region.
“This report tracks industrial, commercial and institutional building activities, which are all key indicators of York Region’s growth,” said York Region Chairman and CEO Bill Fisch. “Increases in this area indicate the Region continues to create jobs to match our population growth.”
The total value of non-residential (industrial, commercial, institutional) construction in York Region increased by 23 per cent from last year’s report, which demonstrates the impact of a strong economy.
“The Economic and Development Review 2007 monitors the growth and competitiveness of the Region’s economic and building activity,” said Town of Markham Regional Councillor Tony Wong, Chair of York Region’s Planning and Economic Development Committee. “This information is important to develop strategic policies and activities that help ensure the Region enjoys a strong, diversified economy.”
The report highlights numerous indicators that demonstrate the Region’s strong demographic and economic growth as well as construction activity during the past year:
• York Region’s total population increased 3.5 per cent from last year, to approximately 983,100 in December 2007
• Total construction for all sectors (residential, industrial, commercial and institutional) was valued at approximately $3.5 billion in 2007, a $380-million increase over 2006
• The number of jobs in York Region increased about 15,000 to approximately 485,000 in 2007
• York Region’s housing stock is becoming increasingly diversified, with 48 per cent of housing starts in 2007 comprised of multiple unit dwellings (semi-detached, row, condo and apartment)
Copies of this publication will be circulated to area municipalities, chambers of commerce, boards of trade, other business groups and key stakeholders. The reports will also be available on the Region’s website by the end of the month at www.york.ca
To obtain copies of the Economic and Development Review 2007, please call York Region’s Planning and Development Services Department at 905 895-1231, Ext. 1550, or toll-free at 1-877-464-9675, or send your request via email to firstname.lastname@example.org
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Media Contact: Ava Baccari, Corporate Communications, York Region
Phone: 905 830-4444 Ext. 1207, 416 297-9696 or Toll free 1-877-464-9675