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Vaughan Economic Monitor
Issue #2 - November 2018
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Vaughan Metropolitan Centre - Highway 7 and Jane Street
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The Vaughan Economic Monitor is a new resource from the Vaughan Economic and Cultural Development Department that will share hard-hitting facts, figures and news related to economic, market and business activities here in Vaughan. New issues are delivered bi-monthly.
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| Vaughan Economic and Market Data |
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Vaughan Population Estimate, 2018
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York Region's Corporate Services department has recently released population estimates from their Long Range Planning Branch, which cites Vaughan totalling an estimated 328,406 people as of August 31, 2018. The numbers are based on both data from Statistics Canada, as well as the CMHC Housing Completion data. This represents an approximate growth rate of 3.4% from the 2016 population estimate. The total number of occupied households in Vaughan is an estimated 99,089, the majority of which are single detached houses (63,055).
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Vaughan Real GDP by Industry
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According to numbers from the Conference Board of Canada, Vaughan's real gross domestic product (GDP) in 2018 totals $20,590,000,000. Services producing industries reported a real GDP of near double that of goods producing industries, coming in at $13,228,000,000 and $7,362,000,000 respectively. The top three industries in Vaughan by real GDP are: manufacturing ($4,472,000,000), finance, insurance & real estate ($3,804,000,000), and wholesale trade ($2,890,000,000). The average annual growth rate in real GDP from 2015 to 2018 was 3.9%.
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Vaughan Enterprise Zone - Quick Facts
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 The Vaughan Enterprise Zone (VEZ)
is located in
the western quadrant of the city bordering Brampton, Toronto, and Caledon and encompasses an area of more than 1,120 hectares (2,767 acres).
Many of the sites on the VEZ are large and well-suited for head offices, national logistics and distribution centres, and manufacturing operations.
Real estate opportunities can range from infill sites to large development areas with highway exposure and rail services. CP Rail's largest intermodal terminal has onsite handling capacity of more than 600,000 containers
annually, and
offers direct non-stop connections to the Port of Vancouver. Toronto Pearson International Airport, Canada's busiest passenger and cargo airport, is located within 15 minutes from the VEZ.
C
onstruction of a new 6.6 km extension of Highway 427 from Highway 7 to Major Mackenzie Drive is
currently
underway
and is expected to be completed by 2020.
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| Vaughan Metropolitan Centre - Development Updates |
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Cortel Group Expo Tower 5 Named
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Artistic rendering of completed CG Tower |
The latest phase of Cortel Group's Expo City, formerly known as Expo Tower 5, has been named CG Tower. The project is located at the
northwest corner of Maplecrete and Highway 7, and includes direct access into the forthcoming Edgeley Pond and Park. Designed by Quadrangle Architects and with DTAH as the landscape architects, the building will be 60 storeys with 55,612 m
² of gross floor area, 3,186 m² residential space, and 2,426 m² retail and gallery space. The project is expected to be completed in Spring 2022.
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Four Tower Mixed-Use Development Proposed in VMC
QuadReal Property Group
has put forward a mixed-use development in the Vaughan Metropolitan Centre. Block 3 has a total proposed gross floor area of 135,967 m². Designed by IBI Group, the project includes four condominium towers, at-grade retail, restaurant space, and new public space.
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| Artistic rendering of retail courtyard in Block 3 |
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| Artistic rendering of the Block 3 development |
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Vaughan-based Company Wins Workplace Safety Award
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DMC Mining Services, one of North America's premier underground contractors has been recognized by Workplace Safety North for
workplace excellence in health and safety
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provincial health and safety association for mining, forestry, and paper, printing, and converting sectors, awarded the company, whose
Canadian headquarters is located in Vaughan, with the
Workplace Excellence Award.
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Small Business Drives Vaughan
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 In October, the Province of Ontario celebrated its 39th annual Small Business Week. Vaughan Small Business Week attracted over 350 local entrepreneurs to sessions that helped them connect with their peers and make connections across a variety of industries.
Small Business is the backbone of Vaughan's economy. Of Vaughan's almost 12,000 business, over 80% employ fewer than 20 people. In York Region, solo operators outnumber businesses with employees at a rate of almost 3 to 1. This speaks to the entrepreneurial spirit in Vaughan! Since 2001, small businesses have counted on the Vaughan Business Enterprise Centre's (VBEC) business advisory services for the advice they need to start and grow. Since 2010, VBEC has helped over 3,000 businesses start and grow.
To find out more about VBEC's seminars and events, or to book a consultation with a business advisor, visit
www.vaughan.ca/vbec.
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Public Spaces
Fall has been busy with grand openings of city spaces. Phase 1 of North Maple Regional Park, an expansive outdoor space that will be 900 acres (larger than New York's famed Central Park); Vellore Village Public Library, an 8,300 ft² space with an interactive children's area, individual study areas and collaboration spaces; and the Pierre Berton Heritage Centre, an engaging, interactive space to experience Canada's story through exhibits.
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Businesses
Diversified Ulbrich celebrated the grand opening this fall of its facility at 1-150 New Huntington Road, relocating and expanding its Ontario head office from their previous location in Downsview. Diversified Ulbrich specializes in sheet, bar, plate, tubing, structural angle as well as rolled and slit coil. Their new location provides easy access to 400 series highways, as well as being located within 10 minutes of Toronto Pearson International Airport.
Josef Gas recently opened their three acre location at 201 Balsatic Road, which the
largest single storage propane tank facility in the GTA. Josef Gas is a
Canadian owned industrial gas company. They are suppliers of industrial gases, welding equipment & propane serving industries including manufacturing, construction, forklift, heating, food/beverage & pharmaceutical.
AirRiderz has also recently opened a new 30,000 square foot facility at 3-
570 Applewood Crescent in Vaughan, marking their third location to open in the GTA. AirRiderz is a Canadian commercial recreational business which operates all ages trampoline parks.
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Save the Date - 17th Annual Vaughan Business Expo and Creative Industries Summit
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Join Vaughan on February 5, 2019 for the 17th Annual Vaughan Business Expo and Creative Industries Summit.
At the Expo and Creative Industries Summit:
- Connect with Vaughan's business community
- Build relationships in the marketplace
- Generate business results
- Help to shape the future of Vaughan's Creative Industries
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| Give a Toy This Christmas |
The City of Vaughan is holding its ninth annual Toy Drive, supporting the CP24 CHUM Christmas Wish, to help families who need assistance during this holiday season. In the spirit of giving, we are asking that you consider donating a new, unwrapped toy for children aged newborn to 18 years. Toys can be dropped off to community centres, libraries and fire halls until Dec. 6 and to Vaughan City Hall until Dec. 10 at 5 p.m.
For more information, please contact
toydrive@vaughan.ca.
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| Add Power to Your Business By Using Less of It |
Upgrading inefficient equipment has never made more sense. With incentives from Save on Energy programs offered by Alectra Utilities, you can reduce your upfront investment and control your ongoing costs. And saving money on your electricity bill isn't the only benefit. The incentives, which cover up to 50% of project costs, can increase productivity and quality, provide a better environment for employees and customers, reduce maintenance costs, and so much more.
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Market Your Business In Vaughan
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 Are you looking to promote your business and stand out amongst your competitors
? Use customized partnership with the City of Vaughan to reach your target audience.
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| Sustainable Solutions for Your Business |
 Whether you're looking to cut operating costs, purchase new heating equipment or create a more comfortable climate, Enbridge Gas Distribution can help you find and fund smart ways to use less energy and save money. An Enbridge Gas Energy Solutions Consultant will work with you, free of charge, to identify energy efficiency opportunities that save natural gas and in return save you money. You will also be advised on financial incentives relevant to your business to help you implement energy saving projects and reduce operating costs.
Get started today! For more information, visit
enbridgesmartsavings.com/business or contact Enbridge at
energyservices@enbridge.com or 1.866.844.9994
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| 10th Anniversary of Partners in Project Green |
Partners in Project Green is hosting
Powering the Clean Economy: Leveraging 10 Years of Sustainability Leadership for a Prosperous Tomorrow on Thursday, November 29, 2018, which is the final event of their 10th anniversary celebrations.
Partners in Project Green is a community of
businesses, government bodies, institutions and utilities working together to build the largest eco-business zone in the world.
Learn more
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The City of Vaughan's Economic and Cultural Development department focuses on facilitating entrepreneurship, employment and investment opportunities, developing and promoting art and cultural experiences, as well as engaging thought leaders to generate insightful ideas, strategies and actions that drive economic, cultural and partnership investment. We work to make Vaughan a place where entrepreneurship, business, art and culture prosper and grow.
For more information, contact the City of Vaughan's Economic and Cultural Development team at
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