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Economic Update & Market Overview
BREB Economic Update for Real Estate Professionals
September 26, 2016 prepared by the Brampton Economic Development Office
• Economic Development Office Services
• Economic And Market Overview
• Established Companies
• Population and Employment
• Brampton Economic Indicators
• Brampton - Construction Value Rankings
• Brampton’s Employment Base
• Construction Activity: Industrial Development
• Construction Activity: Commercial Development
• Construction Activity: Institutional Development
• Construction Activity: Residential Development
• Economic Development Office: Stories of Note
• Open Data Catalogue
• Economic Development Stories
• Social Media
1
Table of Contents
City of Brampton
economy has been
performing very well
Canada’s 9th largest City
in population
3rd largest City in the
Greater Toronto Area
(City of Toronto,
Mississauga)
Forecast for continued
economic growth to 2041
Supply of employment
land will play an
important role in
accommodating future
growth
Economic base
continues to transform;
knowledge employment
is growing
2
Economic Development Office Services Mission Statement Strengthen Brampton’s outstanding quality of life by encouraging economic growth, innovation and entrepreneurship that enhance the City’s brand
and residents’ lifestyles.
Services for Business Market
Information
• Market Reports
• Local Economic Indicators
• Socio-economic Reports
• Demographic Statistics
• Business Establishment Inventory
• Industry Sector Reports & Profiles
• Labour Force and Occupation Data
• Salary and Benefits Information
• Training Programs & Providers serving
Brampton
Location Services
• Corporate Relocation Services
• Community Information for Employees (Health care, education, daycare, shopping)
• ICI Site Selection Services
• ICI Real Estate Inventory and Costs
• ICI Construction Statistics
• Film and TV Location & Permitting
• Municipal and Utility Services and Costs
• Familiarity Tours of Brampton
• Introduction/Liaison with Municipal Depts
Micro and SME Advisory Services
• Guidance on Permits, Licences, other
requirements
• One-on-one Launch and Growth
Counselling
• Business Planning Assistance
• Summer Company Program for Youth
• Start-up and Micro Business Seminars,
Workshops, Professional Development
Events
• Access to Research Innovation and
Commercialization Experts and Programs
Financial Assistance
• Liaison with Federal,
Provincial and Municipal
Incentives and
other Programs
• Access to government
programs for business
• Promote and Facilitate
City of Brampton
Incentives for Brampton
Businesses
Business Expansion Opportunities
• Networking events to bring businesses
together
• Facilitate Strategic Alliances (Match local
opportunities with domestic/global needs)
• Recognize, Showcase & Promote Brampton
Products, Services, Best Practices
• Promote business celebrations, such as
grand openings, anniversaries
• Connect business networks with social
media
Facilitation Services
• Key point of contact for
businesses at Brampton
City Hall
• Support businesses on
policy Issues that affect
local competitiveness
The City of Brampton’s
Economic Development
Office was developed
as a “one-stop shop” for
business development
information and helps
businesses build,
expand, develop, and
start up faster and more
efficiently.
We are here to support
existing Brampton
businesses in their
quest for success, as
well as to encourage
new businesses to set
up and soar in the
thriving business
environment our city
has to offer.
AND……EVERYTHING IN
BETWEEN
For further information go to:
www.peoplepoweredeconomy.ca
• Highly competitive and successful economic location
• Concentration of infrastructure generates demand
• Economic advantages of proximity to transportation
gateways and corridors: Pearson International Airport,
400 series highways, land ports (CN/CP), transit
• Labour force is young, growing, intelligent,
multicultural
• Higher education - Home to internationally
recognized Sheridan College Centre of Advanced
Mfg and Design Technology and Algoma University’s
BBA Program
• Industrial sector diversity - creates stability
• Outstanding Community Services – Modern Health
Care System (Osler), Police, Fire, Ambulance, Social
Services, Parks, Sports, Recreation, Arts and Culture
• Excellent local business support services, networks
and resources (BBOT; City of Brampton; Region of
Peel)
The City economy contributes $33 billion per year to
the GDP, or approximately 10% of the GTA
3
Economic Overview
Brampton – Established Companies
4
Population and Employment – Brampton
Employment in Brampton is expected to have growth of over
Population in Brampton is expected to have growth of over
40% over the next 25
years
50% over the next 25
years
Source: Preliminary forecasts prepared for the City of Brampton by Hemson Consulting Ltd.
5
207,350
244,030
268,460
292,430 307,110
321,960
614,300
686,800
760,700
836,800 863,800
888,600
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
2016 2021 2026 2031 2036 2041
Employment Population
Growth Rate 2011 – 2041
184% 2011: 76,551 2021: 145,669 2031: 201,340 2041: 217,646
Growth Rate 2011 – 2041
139% 2011: 40,209 2021: 65,949 2031: 90,198 2041: 96,234
Growth Rate 2011 – 2041
128% 2011: 104,136 2021: 127,283 2031: 147,532 2041: 154,603
Growth Rate 2011 – 2041
304% 2011: 13,156 2021: 32,167 2031: 49,903 2041: 53,134
Growth Rate 2011 – 2041
114% 2011: 32,390 2021: 39,545 2031: 53,777 2041: 69,216
Population and Employment – Brampton
Source: Preliminary forecasts prepared for the City of Brampton by Hemson Consulting Ltd.
5
69% Population
Growth 2011 – 2041 Brampton
BRAMPTON 2021: 686,800 2026: 760,700 2031: 836,800 2036: 863,800 2041: 888,600
6
Brampton – Economic Indicators
16.3% Increase in
RESALE ACTIVITY across all
housing types
By August 2016, Brampton Economic Development Office recorded 128 new businesses (on par with last year)
and 710 new jobs (17.4 per cent increase from 2015).
The unemployment rate decreased to 8.4 per cent (from 8.5 per cent in 2015).
Average house price is up 17.7 per cent compared to last year. Housing resale activity is up 16.3 per cent.
Sources 1. City of Brampton Economic Development Office 2. Statistics Canada, Labour Force Survey, custom tabulation S0516_15_LFS.ivt 3. City of Brampton Building Division, August 2016 4. Monthly MarketWatch (Toronto Real Estate Board) August 2016 5. GTA Q2 2016/2015 Industrial Statistics - (Colliers International) **Unadjusted 3 months moving average Complied by the Brampton Economic Development Office
Brampton Indicators YTD August 2016 YTD August 2015
Variance
(16/15)
Total New Employment1 710 605 17.4%
Total New Business1 128 139 -7.9%
Unemployment Rate % (Region of Peel)2** 8.4 8.5 -0.1
Total Construction Value3 $1,227,631,279 $1,934,450,751 -36.5%
Residential Construction Value3 $957,780,883 $1,549,191,429 -38.2%
Industrial Construction Value3 $144,672,136 $155,709,185 -7.1%
Commercial Construction Value3 $64,179,947 $58,526,729 9.7%
Institutional Construction Value3 $58,535,581 $167,172,188 -65.0%
Housing Resale Activity4 7,893 6,787 16.3%
Average House Price4 $574,400 $487,822 17.7%
Housing Permits (units)3 2,384 3,793 -37.1%
Industrial Vacancy Rate % (Q2-2016/2015)5 2.6 4.6 -2.0
710 New Employees
(Jan –Aug)
128 New Businesses
(Jan –Aug)
Source: Statistics Canada, Catalogue no. 64-001-XWF, June 2015-2016 Compiled by the Brampton Economic Development Office
NATIONAL RANKINGS
TORONTO CMA RANKINGS
Brampton - Construction Value Rankings (Mid Year 2016)
TOTAL
CONSTRUCTION INDUSTRIAL COMMERCIAL INSTITUTIONAL RESIDENTIAL
NON-
RESIDENTIAL
8th (6th Mid-Year
2015)
3rd (2nd Mid-Year
2015)
23nd (22st Mid-Year
2015)
17th (10th Mid-Year
2015)
14th (11th Mid-Year
2015)
5th (4th Mid-Year
2015)
2nd (2nd Mid-Year
2015)
2nd (2nd Mid-Year
2015)
6th (5th Mid-Year
2015)
4th (2nd Mid-Year
2015)
5th (3rd Mid-Year
2015)
2nd (2nd Mid-Year
2015)
As of June 2016, the City of Brampton issued building permits
valued at $0.9 billion, an decrease of 25.2 per cent from 2015.
The total value of building permits rose 114.8 per cent from Q1
to Q2. The increase was attributed to increased construction
activity in residential and commercial .
Brampton’s industrial construction
value from January to June 2016
was worth over $69 million, a
decrease of 26.0 per cent from the
same period 2015.
Brampton ranks 3rd nationally in
2016 in the industrial category.
8th (8th Mid-Year
2015)
2nd (2ND Mid-Year
2015)
RESIDENTIAL
UNITS
1,921 UNITS
7
Brampton’s Employment Base
153,335 Employment
94% firms have
less than 50 Employees
17.28 Employees
per Business
Services-producing Industries
Goods-producing Industries
6%
19%
75%
CONTRACT
PART-TIME
FULL-TIME
Total Employment
8
As of September 2016, total employment was 153,335, of which 115,208 were full-time, 28,542 were part-time and 9,587 were contract-based. In 2016, the average number of employees per business establishment was 17.28, compared to 17.08 in 2015. The three largest private sector employers in Brampton were Rogers Communications Inc., FCA Canada Inc. and Loblaw Companies Ltd.
Complied by the Brampton Economic Development Office
73%
27% Goods-producing Industries
Services-producing Industries
The services-producing industry in Brampton employed 111,444 individuals or 73 per cent of total employment, while 39,610 or 27 per cent were employed in the goods-producing industry. Service industries represent a significant component of Brampton’s economic base. Retail, wholesale trade, transportation and warehousing are major employers in Brampton’s growing service economy.
Major Economic Sectors Advanced Manufacturing
Business Services Creative Economy Food and Beverage
Information and Communication Technology
Human Health Sciences Retail Administration and
Logistics
Construction Activity: Industrial Development
11
Significant Industrial Projects
Brampton had 18 new industrial projects commence construction as of 2016 (YTD August), adding close to 2.3 million square feet of industrial floor space.
55 54
65
55
20
32 28
49
31
42
20 18
0
10
20
30
40
50
60
70
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD AUG2016
New Industrial Building Sq.Ft. Industrial Building Expansion Sq.Ft. Number of Projects
1.3 Million Square
Feet per year average
Source: 2005 – 2016 Building Permit s– City of Brampton; Complied by the Brampton Economic Development Office
Applicant Location Construction Value Square Feet User
Old Navy (Canada) Inc 9500 McLaughlin Road N $20,000,000 333,272 Gap Canada
Anatolia Capital Corp 9 West Drive $16,000,000 453,967 Logistics Company
Great-West Life Assurance & London Life
Insurance Company 3495 Steeles Avenue E $13,361,085 159,797 Logistics Company
Chiefton Investments Limited
7825 Winston Churchill
Boulevard $35,345,700 422,720 Logistics Company
Airport Road (STG) Portfolio Inc 15 Production Road $17,976,702 214,996 Solutions 2 Go (Video Games)
Construction Activity: Commercial Development
12
Significant Commercial Projects
Brampton had 13 new commercial projects commence construction as of 2016 (YTD August), adding over 150 thousand square feet of commercial floor space.
720 Thousand Square
Feet per year average
Source: 2005 – 2016 Building Permit s– City of Brampton; Complied by the Brampton Economic Development Office
19
36
20
28
35
15
20
12 11 11
23
13
0
5
10
15
20
25
30
35
40
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD AUG2016
New Commerical Building Sq.Ft. Commerical Building Expansion Sq.Ft. Number of Projects
Applicant Location Construction Value Square Feet User
Polco Investments Limited 2250 Queen Street E $7,000,000 60,242 Acura 2000
Brampton Town Centre Ltd / 1552262 Ontario Inc
20 Maritime Ontario
Boulevard $5,500,000 47,984 Multiple tenants
HJMT Holdings Inc 15 Fandor Way $3,205,200 28,750 Multiple tenants
Bramgate Properties Inc 25 Coachworks Crescent $7,000,000 62,710 Audi Brampton
McVean Plaza Inc 9985 McVean Drive $2,611,328 17,568 Multiple tenants
Construction Activity: Institutional Development
13
Significant Institutional Permits List
Brampton had 7 institutional projects by August 2016, totaling over 200,000 square feet of floor space.
Applicant Location Construction Value Square Feet Use
Sheridan College Institute of Technology and
Advanced Learning 7899 McLaughlin Road $41,386,763 131,234
Sheridan College (Davis Applied
Engineering Centre)
Peel District School Board
500 Elbern Markell Drive
(Bovaird and Mississauga) $38,800,000 208,928 Credit Valley No 2 Secondary School
Erin Oak Kids Centre for Treatment and
Development 10145 McVean Drive $38,154,000 123,311 Erin Oak Kids
Baybridge (Brampton) Inc 223 Main Street South $30,810,000 132,654 Traditions at Peel Village
Ahmadiyya Muslim Jama'at Canada Inc 10545 Hurontario Street $7,930,720 30,488 Ahmadiyya Muslim Jama'at (Mosque)
630 Thousand Square
Feet per year average
Institution
Source: 2005 – 2016 Building Permit s– City of Brampton; Complied by the Brampton Economic Development Office
26
17
30
37
17
21 20 20
26 29
17
7
0
5
10
15
20
25
30
35
40
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000
2,000,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 YTD AUG2016
New Institutional Building Sq.Ft. Institutional Building Expansion Sq.Ft. Number of Projects
Construction Activity: Residential Development
13
Brampton had 27 non-residential projects by mid 2015 of which six were institutional projects , totaling over 500,000 square feet of floor space. New projects included 131,000 square foot - Sheridan College Davis Applied Engineering Centre, a Peel Regional Paramedic Services Building and Secondary School.
741K Square Feet
per year average
Institution
Source: 2005 – 2016 Building Permit s – City of Brampton; Source: Monthly MarketWatch (Toronto Real Estate Board) August 2016 Complied by the Brampton Economic Development Office
3.1M Square Feet
per year average Non-
Residential
By Builder Total # of Dwelling Units
Royal Pine Homes 192
The Conservatory Group 164
Greenpark Homes 136
Landmart Homes 122
Muirland Homes 118
Lindvest Properties 107
Kaneff Homes 92
Regal Crest Homes 84
Aspen Ridge Homes 82
Paradise Homes 77 0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2014 YTD August 2015 YTD August 2016 YTD August
Multiple Unit Building
Townhouse
Semi-Detached
Detached
2,384
3,793
2,907
$3
78
,19
6
$4
04
,38
1
$4
21
,82
2
$4
43
,22
8
$4
87
,82
2
$5
74
,40
0
5,436 6,099 5,690 6,048
6,787 7,893
0
2,000
4,000
6,000
8,000
10,000
$0
$200,000
$400,000
$600,000
$800,000
2011 2012 2013 2014 2015 2016
Average Home Price
Resale Activity
Type of Dwelling Unit – Brampton Building Permit
Average House Price and Housing Resale Activity
Top 10 Builders by Dwelling Unit
14
Economic Development Stories
Brampton’s newest luxury auto mall located at Mayfield Road and Highway 410, currently home to
Mercedes-Benz Canada, BMW Canada, and Bramgate Volkswagen, saw construction begin on a
new $2 million, 16,000 square foot Infinity Dealership at 60 Coachworks Crescent.
In addition, Acura 2000 added 60,000 square feet of dealership floor space at 2250 Queen Street
East. Gateway Chevrolet added 2,600 square feet to its dealership at 2 Gateway Boulevard and
Adesa Auctions Canada* added 9,500 square feet at 75 Auction Lane.
*Adesa Auctions is recorded as an industrial permit.
Canon Canada’s new 190,000 square foot,
$66 million* headquarters at Mississauga
Road and Steeles Avenue West continued
with its ongoing construction. The new
five-storey facility will replace the
company’s current office on Dixie Road in
Mississauga and is scheduled to open in
the fall 2016.
*Construction costs plus land value
Automotive Retail Investment Canon Canada Inc.
14
Economic Development Stories
Sheridan College made a $47.5 million
investment at its Davis Campus with the
construction of a new facility dedicated to the
skilled trades. Construction has begun on the
three-storey, 130,000 square foot building,
scheduled to open in September 2017. This
new location will allow students
direct access to Sheridan’s engineering
programs located in the adjacent Davis Applied
Engineering Centre (DAEC).
ErinoakKids broke ground in May of 2015 on its
new Brampton facility located at 10145 McVean
Drive. The 122,000 square foot, 26- bed facility will
house what will be Ontario’s largest respite centre
for children who are medically fragile, technology
dependent or have complex care requirements. The
cost of design and construction for the project
is $163 million.
Sheridan College’s Skilled Trades Centre ErinoakKids Centre for Treatment and Development
Peel Memorial Centre for Integrated Health and Wellness
The new facility is on track to be
completed by the fall 2016. In early
2017, after a period of equipment
installation, training and orientation, it
will be fully operational. The new Peel
Memorial will provide a range of
specialties, clinics, day programs and
services – including high-tech
diagnostics, surgery and women’s
and children’s health. Space will also
be created for education classrooms
where patients and family members
can learn from health professionals
about how to take a more active role
in managing their own health.
14
Open Data Catalogue
Registered Plan of Subdivision
Site Plan Applications
Heritage Points
Brampton Business Directory
Registered Plan of Condominium
Development Applications
Registered Two-Unit Dwellings Schools
Public Facilities
Pathways
Parks
Brampton Transit Schedule Data
DANIEL BISHUN BUSINESS INFORMATION AND COMPETITIVE POLICY COORDINATOR
Economic Development Office 2 Wellington Street West, 2nd floor Brampton, ON Canada L6Y 4R2 T: 905.874.2650 F: 905.874.2670 E: [email protected] W: www.peoplepoweredeconomy.ca
17