There is change happening in Hamilton. From record-setting building permit values, to cranes in the downtown core, to a strong arts and culture sector, change is here. And the change is good.
As the new Mayor for this great city, I inherit an economy that is one of the strongest in Ontario and one of the most diversified in all of Canada. I am truly excited about the great level of investment interest in Hamilton and look forward to meeting more of the investment community over the coming months.
The one thing that remains quite clear, no matter who wears the chain of office, is that investment activity in Hamilton remains very strong. As of the end of October 2022, the City of Hamilton has already achieved its second-best year ever for the value of building permits issued – and there are two months yet to be recorded. Cranes in the downtown, major structures being erected in our business parks and more small business shop windows being occupied in our commercial districts are very positive signs of further economic growth.
To accommodate this growth, the City has been hard at work implementing the 2021-2025 Economic Development Action Plan, which is the blueprint for the future of Hamilton’s economy. This plan is cognizant of the importance of equity, diversity and inclusion, and climate change. It focuses on skills development and building our future workforce, ensuring the community is investing in the digital infrastructure necessary to accommodate the needs of business and the greater community, advancing investments in services that move goods and people and elevating public and private sector investments that revitalize public spaces and, in some cases, transform entire neighbourhoods.
As this plan seeks to build an economy and workforce to move the community forward, the city is also benefitting from key funding for critical transportation systems. In 2023, important work will take place that gets construction underway for the 14km Light Rail Transit line through the lower city this is in addition to the all-day, two-way GO Transit service out of the West Harbour station and work that has commenced on the Centennial Parkway GO Transit service station.
As the city grows, critical steps are being taken now to accommodate that growth through efficient transportation systems.
Throughout this publication, you will read a number of economic success stories that are charting a new path for Hamilton’s economy and gain a greater understanding of the positive changes in Hamilton.
I encourage you to reach out to Hamilton’s Economic Development Team (investinhamilton.ca) if you would like to learn more and I hope to one day to welcome you and your investment to Canada’s comeback city: The City of Hamilton.