Economic Development Action Plan continues strengthening York Region business community

May 28, 2025

The Regional Municipality of York builds on collaboration with a focus on supporting local

Newmarket – York Regional Council received a 2024-2027 Economic Development Action Plan update, highlighting activities and outcomes throughout 2024 supporting York Region businesses.

“Reinforcing Regional Council’s strategic priority of economic vitality is more critical now than ever to help sustain short and long-term prosperity and resiliency across the Region’s business community,” said York Region Chairman and CEO Eric Jolliffe. “Advancing this work through important partnerships ensures York Region’s economy remains thriving.”

The Economic Development Action Plan focuses on business support, building innovation, talent attraction and marketing and awareness. 2024 achievements and initiatives underway include:

Supporting businesses through business advisory services, engaging more than 900 stakeholders including over 450 targeted consultations through the York Small Business Enterprise Centre
Strengthening agri-food, automative, information and communications technology and life sciences sectors through business advisory, partnerships, research and participating in events such as the Afri Future Tech Summit, Collision Conference, MedTech, ventureLAB HardTech Conference and Site Selectors Guild
Being named one of Canada’s Best Locations to invest and supporting local cities and towns with foreign direct investment efforts and activities
Growing innovation through partnerships including allocating $1.08 million from the Innovation Investment Fund for York University’s Project JumpSTART, renewing ventureLAB funding to support hundreds of innovative businesses
Leveraging programs like the Hardware Catalyst Initiative and York Region’s Entrepreneurship and Innovation Fund to support entrepreneurs and growing companies
Engaging with the business community and achieving more than 3.5 million views on York Region’s economic development digital marketing platform, York Link

While actions in the Council-approved 2024-2027 Economic Development Action Plan are progressing well, York Region continues to adapt to changing economic conditions and incorporate tailored business supports in collaboration with local municipalities and industry partners. This includes reestablishing the Business Recovery Support Partnership, delivering a range of tariff and trade supports and continuously building resources at YorkLink.ca/Trade

“Business success and job growth are fundamental to York Region’s economic prosperity,” said Township of King Mayor Steve Pellegrini, Chair of Finance and Administration. “With over 57,000 businesses in the Region and over 11,000 of them identified as importers or exporters, continued partnership with other levels of government will strengthen efforts in the Economic Development Action Plan to support businesses and drive growth.”

Key fact about York Region’s economic landscape:

Ontario’s third largest manufacturing hub; fifth largest in Canada
Three of GTA’s five largest corporate Research and Development investors
Canada’s largest independent auto parts and electronics manufacturing industry cluster
One of Canada’s largest technology sector hubs with over 4,900 Information and Communications Technology companies
Ontario’s second largest food and beverage processing sector and fourth largest in Canada

For more information on local business supports and resources, supporting the local economy and navigating economic impacts in response to tariffs, visit york.ca/Tariffs

For more information on economic development in York Region and available resources to grow a business, visit YorkLink.ca

The Regional Municipality of York consists of nine local cities and towns and provides a variety of programs and services to over 1.25 million residents and 57,000 businesses with more than 629,000 employees. More information about the Region’s key service areas is available at york.ca/RegionalServices

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Media Contact:

Stephanie Crowley, Corporate Communications,
The Regional Municipality of York
Phone: 289-763-2598
Email: @email