- The Town’s existing Economic Development Strategy was created in 2012. Since then, significant progress has been made in implementing the Strategy’s goals and recommendations. During this same period, there have been many changes in demographics, technology and business conditions. These changes have had a compelling impact on local, regional, national and international economies – including within Halton Hills, rendering the 2012 Strategy outdated. Likewise, the Town’s Tourism Strategy is now four years old and is in need of an update. New, actionable and effective strategies are needed to position Halton Hills as a prime destination for investment and job growth.
- The overarching Strategy, which will include three sub-strategies (Tourism, Green Economy and Brownfield Redevelopment), will lead to increased local employment, local investment and assessment growth, economic diversification, and enhancement of the Town's competitiveness, while ensuring Halton Hills' long-term economic prosperity.
- The Strategy will include recommendations for specific actions over the next three years to achieve their goals (i.e. 3-year Action Plan.)
- The scope of work includes extensive research and analysis, and thorough stakeholder engagement. Key stakeholders include businesses, industry associations, business support organizations, and multiple levels of government.
- The Economic Development and Tourism Strategy is planned to be completed by spring 2020.
- The Economic Development and Tourism Strategy will help Halton Hills remain competitive in the regional/provincial/international marketplace. The pillars of economic development – venture creation (entrepreneurship and innovation), business retention and expansion, and business attraction – will all be examined to develop the best five-year Strategy and corresponding three-year Action Plan.
- Maintenance of the Town’s economic competitiveness
- Furthering an “open for business” approach, including best practices across the municipal sector
- Local job growth
- Maximization of economic benefit from the tourism sector
- Increased local investment
- Increased assessment
- Improved non-residential to residential assessment ratio
- Increase in job quality – that is, adding more professional/technical jobs which offer competitive compensation;
- Determination of key sectors of focus
- Review of applicable processes, practices, tactics, policies and structures to best facilitate economic development
The strategy is being prepared through a five-phase process: 1. Launch 2. Stakeholder Consultations 3.Draft Findings 4. Draft Strategy and 5. Final Strategy
Phase 1: Project Launch, is completed.
Phase 2: Stakeholder Engagement is underway.
- Stakeholder Engagement Plan - Completed and under implementation, including:
- Partner interviews - completed
- Councillor interviews - completed
- Business Focus Groups - scheduled
- Business and citizen surveys - scheduled
A Memo dated August 8, 2019 to Committee of Council meeting held August 26 provides the most current status update on the project: Project Status Update
- (MEMORANDUM NO. ADMIN-2019-0014, page 12)
Updates on project progress will be posted continually and included in the Economic Development e-newsletter.
Background Reports and Documents:
Preparation of the Strategy is being guided by a multi-stakeholder Project Steering Committee (PSC or Committee.) The Committee includes representation from Halton Hills Chamber of Commerce, Acton and Georgetown BIAs, Halton Region Economic Development, RTO3, Haltech, industrial commercial realtor, and Town staff from multiple departments/divisions.
Stakeholder Engagement will involve:
- Creation and execution of an Industry Engagement Plan
- Conducting visioning workshops
- Conducting 30+ stakeholder interviews
- Business community focus groups
- Community survey
To stay informed about the progress of the Strategy, subscribe to the Economic Development e-newsletter, and check back to this webpage regularly.
View the Town's Foreign Direct Investment Strategy project page here: https://investhaltonhills.com/foreign-direct-investment-strategy