Halton Region sees big job surge in 2016 as unemployment rate falls to 5.5 per cent

A recent economic report from the Region of Halton showed a booming regional economy in 2016.

According to the report dated March 30, 4,273 new jobs were created across the region in 2016, dropping the unemployment rate in to Halton to a very respectable 5.5 per cent. That’s compared to 7 per cent in the GTA, 6.6 per cent in Ontario and 7 per cent nationally.

“The message from this year’s Economic Review is clear – businesses and industries want to locate, start-up and expand in Halton. This is strengthening our economy and adding jobs to our community,” said Halton Regional Chair Gary Carr. “Our commitment to building a strong local economy and providing the supports businesses need to succeed make Halton Region a great place to live, work and do business.”

The report added $832.5 million was invested in institutional, commercial and industrial construction, representing an increase of 21 per cent since 2015. That included $368.5 million invested in new commercial construction in 2016, or an increase of 33 per cent since 2015.

The region also saw a 42 per cent increase in institutional development.

Total investment in institutional, commercial and industrial construction has increased by 19 per cent annually over the last decade, with institutional investment growth leading the way with a 73 per cent increase over that time.

The region also saw a record-breaking $2.14 billion in new building permits last year.

“These numbers tell us that Halton Region remains one of the best places to invest, find employment and continues to present many opportunities for businesses, big or small, to expand. With low taxes, easy access to major markets and a commitment to building healthy, complete communities, Halton is one of the best places to live and work,” said the region in the report, adding Halton is home to 15 of Canada’s 500 fastest growing companies last year.