York Region Economic Development Action Plan continues to strengthen business community

May 01, 2023

Action Plan contributes to economic vitality through business recovery and job growth

Newmarket – The Regional Municipality of York has successfully completed approximately 90% of the actions identified in the 2020-2023 Economic Development Action Plan update, guiding economic development activities across York Region.

"Strengthening our economy is a key priority for York Regional Council, especially through the last few years,” said York Region Chairman and CEO Wayne Emmerson. "The focus on cultivating economic vitality is about creating opportunities for our residents. York Region remains a top destination for business, talent and investment as Canada’s second largest cluster of Information and Communications Technology companies and Ontario’s third largest business centre.”

All of the 20 action items outlined in the Economic Development Action Plan are underway and nearing completion, due in large part to working closely with York Region businesses, local municipal economic development offices and various industry partners.

Highlights of initiatives and achievements under the plan in 2022 include:

Regional business advisory services, including the York Small Business Enterprise Centre, shifted back from pandemic response to focus on business recovery and growth
York Region participated in Toronto’s Collision Conference, showcasing the #YRtech pavilion and bringing together local municipalities, business and innovation partners; over $250 million in business investments along with 800 new jobs was announced at the conference
Many major business investment and expansion projects announced, including Astera Labs, High QA, Loblaw and Syntronic, contributing to job growth
Award-winning economic development marketing platform York Link, was recognized with a “Marketing Canada” award and continues to be a resource in the business community
Members appointed for the 2023 to 2026 term of the Agriculture and Agri-Food Advisory Committee to provide input to York Region staff on the delivery of the Agriculture and Agri-Food Sector Strategy
Initial share of funding through the Region’s Innovation Investment Fund provided to ventureLAB to expand the Hardware Catalyst Initiative

“Business success and job growth are fundamental to York Region’s economic prosperity,” said City of Richmond Hill Regional Councillor Joe DiPaola, Chair of the Region’s Planning and Economic Development. “Support for businesses delivered through the action plan directly contributes to York Region’s resilient local economy.”

Economic uncertainty still remains, though businesses in York Region are showing a steady recovery and employment is continuing to increase throughout the Region.

York Region’s Economic Development Action Plans are created for a multi-year span. The 2024 to 2027 plan will be developed and presented to Regional Council later this year.

For more information on economic development 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 more than 1.2 million residents and 55,600 businesses with more than 615,000 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