- Attractive foreign investment opportunity with many multinational firms.
- Over 13,000 registered businesses employ more than 85,000 people.
- Halton Region is financially stable, having received an AAA rating from Standard and Poor’s.
- Burlington provides a pro-business environment and competitive tax rates.
- Innovative and collaborative partnerships between local businesses, community stakeholders and educational institutes.
Competitive Business Costs
Burlington has some of the lowest net rents on average in the West GTA with industrial space at $5.00/ft2 or roughly $53.81/m2(CBRE 2014 Q1 Industrial) and office space at $15.98/ft2 or roughly $172/m2(CBRE 2014 Q2 Office)
Average land prices in Burlington at $500,000/acre are considerably lower than communities closer to the Toronto core, such as Mississauga which averages $825,000/acre (CBRE 2014 Q2 Industrial)
Total Annualized Cost of Office Development
Per sf – based on 50,000 s.f. office building
Source: Watson & Associates Economists Ltd., 2013
Burlington has amongst the lowest building permit fees for industry and competitive fees for office.
Source: Municipal websites, 2014
Fast Track Building Permit Service
In addition to the regular permit fee payable for the entire project, a required premium fee equal to the greater of 50% of the regular permit fee or the min./max. of: Commercial Projects – Min. $750 – Max. $7500 (flat fee).
2014 Tax Rate
The tax rates for city and regional purposes are determined as a result of city and regional council approval of their respective budgets. The tax rates for all classes of property are calculated as a “multiplier” of the residential tax rate (RT) based on the transition ratios approved by regional council. The province establishes the tax rates for educational purposes.
Key statistics that provide insight on Development Costs in Burlington including development charges, land acquisition costs, building permit fees, and site plan fees.
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