York Region business and research leaders are welcoming a new strategy to help develop the regional economy and businesses.
The Regional Municipality of York is launching an economic development plan aimed at delivering business support services, promoting York Region as a top business location, growing a skilled workforce and fostering entrepreneurship.
Workforce Planning Board of York Region executive director Al Wilson presented to council Feb. 8 and said it is a plan worth approval.
“We strongly support those activities contained in this action plan,” Wilson said. “They support both employers and job seekers across our region.”
The four-year plan replaces the similar 2020-2023 plan that achieved tangible outcomes, a staff report said, including the creation of more than 5,000 new jobs and millions of dollars in support for businesses in several sectors.
Director of economic strategy, planning and economic development Jonathan Wheatle highlighted the continued increasing scale of York Region’s economy, with it being the third largest business centre in the province.
But in consultation with stakeholders, Wheatle said businesses still face challenges attracting and retaining employees, which the plan seeks to address.
“Talent support, housing affordability and transit,” Wheatle said, adding that affordability is “increasingly being a concern to attract and maintain the workforce.”
The plan includes 20 action items, including strengthening the foreign investment partnership, working toward improving transit and housing and enhancing the York Link digital marketing platform.
“This plan enables us to continue delivering the best-in-class supports that we have been increasingly known for,” Wheatle said.
The plan also aims to provide rural economic development support to York Region's northern six municipalities through the York Region Business Enterprise Centre. The region recently provided more than $1 million in funding for a new business innovation initiative aimed at the northern six.
York University assistant vice-president of innovation and research partnerships Jennifer MacLean praised the plan, with the university being a key partner.
“We are excited to continue our collaborative efforts to contribute to the growth of York Region,” she said.
Council committee of the whole gave tentative approval for the plan, viewable through the York Region website.
