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Economic Development Action Plan 2016 to 2019

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Economic Development Action Plan 2016 to 2019 The Regional Municipality of York Economic Development Action Plan 2016 to 2019 Mayor Regional Councillor Regional Councillor Regional Councillor Regional Councillor Mayor Regional Councillor Regional Councillor Frank Scarpitti Jack Heath Jim Jones Joe Li Nirmala Armstrong David Barrow Vito Spatafora Brenda Hogg City of Markham City of Markham City of Markham City of Markham City of Markham Town of Richmond Hill Town of Richmond Hill Town of Richmond Hill Mayor Chairman & CEO Mayor Maurizio Bevilacqua Wayne Emmerson Tony Van Bynen City of Vaughan Town of Newmarket A Message from York Regional Council The Economic Development Action Plan 2016 to 2019 reinforces our commitment to support business growth and innovation in The Regional Municipality of York. York Region has a robust and diverse economy that is evolving. While manufacturing continues to be important, new employment in knowledge-based and service activities is growing. York Region is the second largest business centre in Ontario, after Toronto, and is home to one of the largest Information and Communications Technology clusters in Canada. Our Life Sciences and Business Services sectors are also expanding. Ontario’s Growth Plan for the Greater Golden Horseshoe has set a target of 900,000 jobs by 2041 for York Region, which currently has 564,000 employees in 48,910 businesses. This revised Economic Development Action Plan is an outline for our actions from 2016 to 2019 to contribute to a stronger York Region economy. The plan is aligned with the priorities of this Council as detailed in the 2015 to 2019 Strategic Plan Regional Councillor and in Vision 2051, our long-term blueprint. Regional Councillor Michael Di Biase This Economic Development Action Plan builds on our strengths to accelerate innovation, collaboration and partnerships. John Taylor City of Vaughan Town of Newmarket Together we will contribute to an even stronger York Region economy. Regional Councillor Regional Councillor Mayor Regional Councillor Mayor Mayor Mayor Mayor Mario Ferri Gino Rosati Margaret Quirk Danny Wheeler Geoffrey Dawe Virginia Hackson Steve Pellegrini Justin Altmann City of Vaughan City of Vaughan Town of Georgina Town of Georgina Town of Aurora Town of East Gwillimbury Township of King Town of Whitchurch-Stouffville TABLE OF CONTENTS Executive Summary ......................................................................................................................................................2 1. Strategic Direction for the Economic Development Action Plan ..........................................................................4 Vision 2051 ................................................................................................................................................................................4 York Region Official Plan - 2010 ...............................................................................................................................................4 2015 to 2019 Strategic Plan .....................................................................................................................................................5 2. York Region Economic Overview ............................................................................................................................6 3. Economic Development Action Plan 2016 to 2019 ..............................................................................................16 The knowledge, collaboration and communication imperatives Areas of program focus .........................................................................................................................................................17 A. Research and Analysis .......................................................................................................................................................17 B. Business Advisory Services ...............................................................................................................................................18 C. Innovation and Entrepreneur Development .......................................................................................................................19 D. Marketing and Communications ........................................................................................................................................25 4. Economic Development Action Plan 2016 to 2019 – Program Tables ................................................................28 Appendices (available online at investinyork.ca/2016-2019-economic-development-action-plan-appendices/) ECONOMIC DEVELOPMENT ACTION PLAN 2016 TO 2019 1 EXECUTIVE SUMMARY The Regional Municipality of York plays an important role in the future economic growth and vitality. That plan was designed to align Greater Toronto Area (GTA) and Ontario economy. Home to with the 2011 to 2015 Strategic Plan and provided a sound basis for almost 1.2 million residents and over 49,000 businesses, the Region developing programs and initiatives. is an attractive location in which to live and invest. York Region is With Regional Council approval early in 2015 of the 2015 to 2019 one of Canada’s fastest-growing large urban municipalities and is Strategic Plan, it was timely to review the Economic Development planned and expected to continue to grow in both population and Action Plan to ensure continued alignment with the strategic priorities employment for the foreseeable future. This growth represents of Council. A review was undertaken with the economic challenges significant opportunities for investment and business growth. and opportunities in mind. To frame the document in the context of At the same time, there are challenges both at the macro-economic actions, this revision is structured around four main program areas: level and within the Region itself that must be faced to ensure future Research & Analysis, Business Advisory Services, Innovation & continued success. The Region’s economy is not immune to the Entrepreneur Development, and Marketing & Communications. As impacts of globalization, fluctuating exchange rates and the demands illustrated below, these program areas are related and directly support of the millennial workforce. At the same time, rapid growth within each other. the Region presents its own challenges with respect to things such as the efficient movement of people and goods, and affordability. Economic vitality is a strategic priority and a cornerstone for Research maintaining a prosperous Region with a high quality of life. The & Analysis importance of a strong economy is identified in strategic guiding documents of Regional Council, including Vision 2051, the York Region Official Plan - 2010, and the 2015 to 2019 Strategic Plan. Business and job growth are vital. Attracting and retaining a variety of Marketing & Business high quality jobs across a broad range of sectors promotes economic Communications Advisory resilience and helps ensure those living in York Region have the opportunity to work and thrive where they live. The Economic Development Action Plan review Innovation & Entrepreneur In December 2012, Regional Council approved the Economic Development Action Plan, which identified innovation driven by Development creative people, companies and institutions as the foundation for 2 ECONOMIC DEVELOPMENT ACTION PLAN 2016 TO 2019 Initiatives carrying over from the 2012 Action Plan » Transportation, workforce accessibility and office attraction A number of initiatives of the 2012 Action Plan will continue into » Transportation, major goods movement infrastructure (e.g. airports, the new plan to support business growth and innovation network trucking and rail) and employment uses development. Examples include support for the new York University » Job creation, skills development and real estate affordability campus proposal in Markham Centre, advancing the objectives of » Quality of life, business growth and workforce retention and the Council-approved Broadband Strategy and Advisory Task Force, attraction continuing to develop an Innovation Network and undertaking an In many cases, initiatives related to these facets will be led by office attraction program. These on-going initiatives and many others different departments or even stakeholders external to the Region. support the strategic priority area of strengthening the regional • Recognizing that impacting the economy means reaching beyond economy in the 2015 to 2019 Strategic Plan and will form an important York Region’s borders - This approach recognizes that York component of the work to be undertaken through the Action Plan Region is part of the Greater Toronto and Hamilton Area and over the next four years. an even larger economic region, and future success will depend increasingly on broader multi-jurisdictional and multi-organizational Initiatives new to the Economic Development Action Plan partnerships. Examples include: 2016 to 2019 » Connecting into the larger innovation network through Based on stakeholder feedback and Regional staff reviews, several ventureLAB, including their larger service area north of York new elements are proposed in the revised Action Plan, including Region and to other Regional Innovation Centres such as MaRS “mapping” the innovation network, undertaking in-depth research in Toronto and Communitech in Waterloo and analysis of the labour force and workforce and monitoring office » Supporting “Newco”, a new central foreign investment attraction development and tenant
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