New plan updates 2005 Economic Strategy and focuses on developing innovation network
NEWMARKET - The Regional Municipality of York has circulated a draft Economic Development Action Plan to the community for stakeholder review and input. The new plan updates the Region’s 2005 Economic Strategy while placing emphasis on a variety of actions the Region can undertake to foster innovation.
“The draft Economic Development Action Plan is a vital component of our efforts to facilitate significant, long-term economic development for The Regional Municipality of York,” said York Region Chairman and CEO Bill Fisch. “It focuses on fostering creativity and innovation in our employees, companies and institutions to form a York Region innovation network and, ultimately, to sustain our economic prosperity.”
The Provincial Growth Plan set a target of 780,000 jobs in the Region by 2031, making the creation and retention of jobs an economic priority for many years to come. Creativity and innovation are regarded as essential to increasing competitiveness and sustaining economic prosperity.
“This plan encourages connections between business, academia, research-focused institutions and governments to accelerate innovation, collaboration and partnerships,” said Town of Newmarket Regional Councillor John Taylor, Chair of the Region’s Planning and Economic Development Committee. “We believe our local economy has a dynamic range of capabilities that we can build on and leverage to be even more competitive.”
York Region already has a robust and diverse economy. While manufacturing continues to have a strong presence, the majority of new employment is in knowledge-based and service activities. York Region is home to one of the largest information and communications technology clusters in Canada and is growing in the life sciences and business services sectors.
The draft Economic Development Action Plan recommends major initiatives to transform the Region, including:
• A greater post-secondary education and research institution presence
• Expanded reach of broadband infrastructure to support innovation throughout the Region
• Closer interconnection of businesses to foster innovation, collaborations and partnerships that build capacity to compete in areas of emerging opportunities
• Strengthened impact of a strong, common marketing message
• Protected prime real estate to attract research-based institutions and enhanced quality of life to attract innovative people to live, work and invest in York Region
• Strengthened capacity of workforce to attract investment
York Regional Council welcomes your comments and input. If you have suggestions about how to facilitate the creation and retention of jobs in York Region, please send them by email to email@example.com
Staff will bring a revised plan back to Committee and Council in the Fall for final consideration.
- 30 -
Media Contact: Tim Paleczny, Corporate Communications, York Region
905-830-4444 or 1-877-464-9675, ext. 1238 • Cell: 905-251-6413 • firstname.lastname@example.org