The Regional Municipality Of York

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Council to consider financial incentives to promote major office development

Newmarket – York Regional Council received an update on the state of office development in the Region, and reconfirmed its commitment to city building by considering the potential use of financial incentives to encourage new office development in key locations.

“Office development, particularly in our urban centres, is important to the Region’s overall competitiveness and fiscal sustainability,” said York Region Chairman and CEO Wayne Emmerson. “Consideration of financial incentives for office development demonstrates Council’s commitment to creating vibrant and sustainable city centres where people and businesses can thrive for generations to come.”

In 2015, York Regional Council concluded the Region was an attractive and cost-competitive location for future office growth in the Greater Toronto Area. However, steady gains in major office employment since that time have not translated into new office development in city centres where the greatest infrastructure investments have been made.

Changing trends in the office development market, combined with provincial changes to development charges outlined in Bill 108, have prompted reconsideration of the Region’s use of financial incentives to help stimulate the supply of office space within key areas.

“Office development and corresponding employment are of vital importance to the Region and its local cities and towns,” said City of Markham Regional Councillor Jim Jones, Chair of Planning and Economic Development. “Offering financial incentives for development of large office buildings could help position York Region as a viable and attractive business location.”

With Council’s endorsement, York Region will begin consulting with the local municipalities, BILD and industry stakeholders on potential financial incentives and report back with proposed recommendations in late 2019.

The Regional Municipality of York consists of nine local cities and towns and provides a variety of programs and services to 1.2 million residents and 52,000 businesses with over 636,600 employees. More information about the Region’s key service areas is available at york.ca/regionalservices

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Media Contact:

Kylie-Anne Doerner, Corporate Communications, The Regional Municipality of York
Phone: 1-877-464-9675, ext. 71232
Cell: 905-716-6035
Email:  kylie-anne.doerner@york.ca


York Region; financial incentives; office development The Regional Municipality of York en-US Media Release