Burlington Economic Development Corporation (BEDC) Releases 2018 Annual Report Showcasing the City’s Economic Competitiveness and Success Stories.
Burlington, ON— June 3, 2019, Burlington Economic Development Corporation (BEDC) Releases 2018 Annual Report Showcasing Burlington’s Economic Competitiveness and Success Stories.
Burlington is celebrating another year of economic prosperity. The vibrant and diverse community provides unique advantages to the businesses and residents that call it home, as revealed in BEDC’s 2018 Annual Report. This report highlights access to talent, land readiness, business growth, and entrepreneurship.
BEDC’s focus is supporting businesses to locate, expand and start-up in Burlington. In 2018, BEDC worked with over 200 businesses helping with economic data, general business processes, obtaining permits, site selections, regulatory issues, development processes, and any other areas where assistance was needed. 89% of people who worked with BEDC would recommend it to a colleague, mentioning that they were knowledgeable, had friendly attitudes, and were fast and efficient. “Every business has different needs” explains Anita Cassidy, Acting Executive Director at BEDC. “BEDC strives to go above and beyond on all of our projects as [the business’s] successes are also our own; we have even partnered on over 20 events in 2018 to contribute to business growth in Burlington.” These events included #HerHalton International Women’s Day Breakfast, Let’s Talk Exports with Export Development Canada, Innovation in Action Tour, and the Halton Food and Beverage Symposium.
Burlington welcomed over 250 new companies in 2018; one success story being ZippyJamz, an award-winning sleepwear company founded in Hamilton in 2016. ZippyJamz was accepted into the TechPlace LaunchPad program in April of 2018 and thrived, tripling their sales and increasing their international presence. ZippyJamz graduated the program early to take on a joint-commercial lease in Burlington, demonstrating the value of TechPlace to attract companies from outside the region.
New talent is complementing employment growth in Burlington with the addition of 1301 new jobs and 250 new companies in 2018. The growth is accompanied by a low 4.8% unemployment rate, 1.1% lower than the Ontario average. Burlington also has a large potential for growth, with 383 ICI (industrial, commercial, and institutional) permits and 981 residential permits. This translates to construction values of over $136 million and over $258 million respectively. These economic indicators highlight the positive trends BEDC hopes will continue in the upcoming year.
Burlington is well-positioned to remain competitive in attracting business investment support through the Mayor’s Red Tape Red Carpet Task Force initiative. Announced in January 2019, the initiative will help identify and eliminate the red tape and bureaucratic challenges Burlington businesses have faced in their pursuit of growth and investment in the city. “This initiative will bring forth key recommendations to make it faster and easier for businesses to invest, expand, and thrive in Burlington,” says Burlington Mayor Marianne Meed Ward. “The focus will be on recommendations that improve how we attract and encourage business, how we engage with businesses, and how we support businesses.” Moving forward, BEDC will also be working with the City of Burlington to develop a 21st century GO Mobility Hub and Downtown Employment Vision. The creation of mixed-use and amenity-rich employment environments in these areas will continue to position Burlington as a location of choice for the best in talent and new businesses.
To read the full report, click the link here.