Media Release

 
October 18, 2012

York Region economy continues to demonstrate strong growth

Economic and Development Mid-Year review highlights Region’s performance
The Regional Municipality of York released its 2012 Economic and Development mid-year review, highlighting key economic and demographic trends and assessing the Region’s economy.
 
“York Region is one of the leading municipalities in the nation with respect to development and growth,” said York Region Chairman and CEO Bill Fisch. “Data on housing starts, population and construction shows the Region continues to demonstrate strong performance in our existing economic climate.”
 
Regional economic indicators are important check points in evaluating economic trends across the Region.
 
Highlights of the review include:
• Construction value increased from fifth to fourth highest across Canada
• Residential resale value reached a mid-year record of over $5.8 billion
• New residential building permits were up 55.4 per cent
• The average resale price of a single detached home increased by 10.2 per cent to $703,501
• York Region had 5,343 housing starts, an increase of 34.9 per cent from mid-year 2011
• York Region’s population grew by 11,400 people to reach 1,097,000
 
“The mid-year review provides local businesses with baseline economic data on York Region,” said Town of Newmarket Regional Councillor John Taylor, Chair of the Region’s Planning and Economic Development Committee. “The data will be used to develop strategies for attracting and retaining new businesses in York Region.”
 
The Mid Year Economic and Development Review is published each year based on data spanning January through to June. Copies of the review will be shared with the Region’s nine area municipalities, Chambers of Commerce, The Board of Trade and libraries.
 
The Mid-Year Review is available online at www.york.ca or to obtain a copy of the mid-year review, please call 1-877-464-9675 ext. 1563 or send an email request to futureyork@york.ca
 
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Media Contact: Masrine Guthrie-Peart, Corporate Communications, The Regional Municipality of York
905-830-4444 or 1-877-464-9675, ext. 1236 Cell: 905-251-6416 masrine.guthrie-peart@york.ca
 
The Regional Municipality of York provides services to 1.1 million residents and 41,000 businesses that employ 516,000 people.
 

 
 
Founded in 1971, The Regional Municipality of York is made up of nine municipalities
and provides services to more than one million residents, 29,000 businesses and 495,000 employees.

 For more information visit us at www.york.ca Follow us on : York Region   @YorkRegionGovt  
 
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