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A COST-EFFECTIVE LOCATION IN THE TORONTO AREA

York Region is Toronto area’s cost-effective location for business. More than 52,000 businesses are taking advantage of the operational cost-savings made possible by having their GTA offices here in the Region.

As Ontario’s fastest growing large municipality, the cost-savings are just one of many business advantages to locating your business here. It’s also the place where talent and opportunity intersect.

TORONTO AREA’S YORK REGION COST ADVANTAGES INCLUDE:

  • Greater Toronto Area’s lowest commercial property taxes
  • 40% lower lease costs for Class A/B office versus downtown Toronto
  • Central Toronto area location means improved retention of top professionals
  • Range of location and cost alternatives across 9 local cities and towns
  • Significant cost advantage versus the United States (taxes, employment, R&D)
  • Free office parking versus average of $315/month per spot in Toronto’s downtown core
  • Eligibility for Federal Government and Provincial Government incentives (case specific)
Aerial of Markham, York Region

TAX AND LEASE RATES IN THE GTA

2017 Business Property Tax Rates in Greater Toronto
Municipality Commercial Industrial
Markham (York Region) 1.61% 1.87%
Richmond Hill (York Region) 1.64% 1.91%
Vaughan (York Region) 1.65% 1.93%
Oakville 1.71% 2.65%
Aurora (York Region) 1.77% 2.07%
Burlington 1.78% 2.77%
Newmarket (York Region) 1.82% 2.13%
Mississauga 1.99% 2.22%
Brampton 2.14% 2.44%
Toronto 2.40% 2.45%
Pickering 2.50% 3.49%
Oshawa 2.87% 4.04%
% of Taxable Assessment | Source: NRU | Aug 18
Office Buildings in York Region
Office Space Lease Cost Comparison
Gross Rent ($ / sq. ft)
York Region
HWY 7/404 Markham – Richmond Hill $28.45
City of Toronto
Downtown Financial Core $56.49
Source: CoStar | Q2 – 2018
Industrial Space Lease Cost Comparison
York Region
Sub-Market Gross Rent ($ per / sq. ft.)
Aurora $9.51
Markham $10.09
Newmarket $9.50
Richmond Hill $11.04
Vaughan $8.73
Source: CoStar | Q2 – 2018

Federal & Provincial Business Incentive Programs

The Government of Canada and the Government of Ontario offer a range of business incentive programs that can assist in reducing corporate taxes and help businesses save on labour, R&D, and expansion costs. Incentive programs can involve grants, tax credits, or low-interest repayable loans upon meeting the necessary requirements for qualification. A full list of government incentive programs can be found here with a few highlighted below:

LOCATIONS

The Regional Municipality of York
Economic Strategy Office
17250 Yonge Street
Newmarket, Ontario, Canada
L3Y 6Z1

York Link
169 Enterprise Boulevard
Markham, Ontario, Canada
L6G 1B3

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