Economic factors continue to indicate vitality in York Region

 

Economic and Development Review 2006 highlights Region’s strengths

 

NEWMARKET – The Regional Municipality of York today released the Economic and Development Review 2006, which provides information on regional demographic and economic trends as well as development activity.

 

“This report helps us to measure our progress, improve our plans and strengthen our industries,” said York Region Chairman and CEO Bill Fisch.  “We will be looking at issues associated with housing affordability -- given the consistent increases in housing values seen across the Region -- as well as a need to continue to produce high quality employment for our growing population.”

 

The Economic and Development Review 2006 outlines the growth and competitiveness of the Region’s economy.  The information provided can be used by businesses to aid in business investment decisions in both the short and long term.

 

“The business outlook for York Region in 2007 is positive,” said Town of East Gwillimbury Mayor James Young, Chair of the Region’s Planning and Economic Development Committee.  “York Region continues to be an attractive location for business investment.”

 

The report highlights several indicators that point to the Region’s continued economic prosperity during the past year:

·         York Region’s population was estimated at 950,700, an increase of 32,300 from December 2005

·         York Region issued approximately 10,900 new residential building permits in 2006, making it the third largest issuer of new residential permits in Canada

·         Housing completions reached 10,162 units in 2006, a 13 per cent increase from 2005

·         York Region’s total estimated construction value exceeded $3 billion for the first time

·         Industrial, commercial, institutional (ICI) construction accounted for 29 per cent of the total construction value in York Region in 2006

·         The unemployment rate was 5 per cent

 

Copies of this publication will be circulated to area municipalities, Chambers of Commerce, Boards of Trade, other business groups and key stakeholders. The reports are available via the Region’s website at www.york.ca

 

To obtain copies of the Economic and Development Review 2006, 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 strategicplanning@york.ca

 

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