Brampton - The City of Brampton’s Economic Development Office has released its 2013 Annual Economic Report, highlighting the successes of the year. Brampton has, once again, finished strong: the 2013 economic indicators revealed a gradual, positive growth in the Brampton marketplace.
Alongside its neighbours in the Greater Toronto Area, Brampton once again performed well, second only to the City of Toronto in total construction, residential construction and in the number of residential units under construction, retaining its appeal as a desirable location to live. The report also touches on the fact that businesses continued to show significant confidence in Brampton’s economy.
The completion of the Air Canada Operations Centre and the construction of Canon’s new Canadian Headquarters will bring more than 900 hi-tech, knowledge-based jobs to Brampton. These two globally renowned companies represent a multi-million dollar capital investment in the local and regional economy.
The report shows that Brampton’s business composition is beginning to shift. Manufacturing and logistics and goods movement continue as the dominant sectors. Meanwhile, new businesses such as corporate headquarters and companies in sectors such as food and beverage, life sciences, business services and information and communication technology continue to be attracted to the area.
Brampton continues to be well positioned as a key location for business relocation and expansion. It is expected to remain among the country’s most active markets in the coming year.