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Economic Indicators

York Region is the third largest business hub in Ontario and the sixth largest municipality in Canada. The Region is home to Canada's second largest tech hub with over 4,500 companies and Ontario’s second largest financial and professional services sector with more than 6,400 companies. Toronto area's York Region is where talent and opportunity intersect.
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KEY YORK REGION STATISTICS /


54,000
BUSINESSES


650,000+
LOCAL JOBS


1,200
NEW BUSINESSES

Annual Average (2011 – 2021)


15,400+
POPULATION GROWTH

Annual Average (2012 – 2021)


1,200,000
RESIDENTS


230
DISTINCT ETHNICITIES


120
LANGUAGES SPOKEN


18
PUBLIC COLLEGES & UNIVERSITIES

(within commuting distance)


$4.6 BILLION
10-YEAR NEW PUBLIC INFRASTRUCTURE INVESTMENTS


$5.1 BILLION
IN TOTAL CONSTRUCTION VALUE

(2021)


16
FORTUNE 100 COMPANIES
WITH OPERATIONS IN YORK REGION


6 of GTA’S TOP 10
CORPORATE R&D SPENDERS


700,000
LOCAL LABOUR FORCE

(Estimated 2022)


2,700
COMPANIES EXPORTING GOODS

(Estimated 2018)


$69.7 BILLION
GDP FOR YORK REGION

(Estimated 2022)


20%
OF GTA’S STEM & BUSINESS GRADUATES

reside in York Region

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YORK REGION BUSINESS COUNTS & DISTRIBUTION /

BUSINESSES BY PRIMARY INDUSTRY SECTOR

PRIMARY INDUSTRY SECTORS
2-LEVEL NAICS
# OF BUSINESSES
54 – Professional, Scientific and Technical Services 9,628
23 – Construction 6,309
Other* 5,504
44-45 – Retail Trade 4,927
62 – Healthcare and Social Assistance 4,660
81 – Other Services (Except Public Administration) 3,650
41 – Wholesale Trade 3,356
72 – Accommodation and Food Services 2,838
53 – Real Estate and Rental and Leasing 2,694
31-33 – Manufacturing 2,502
56 – Administrative and Support, Waste Management and Remediation Services 2,350
52 – Finance and Insurance 2,062
48-49 – Transportation and Warehousing 2,012
61 – Educational Services 794
51 – Information and Cultural Industries 651
GRAND TOTAL: 53,937

* Agriculture, Forestry, Fishing and Hunting, Mining, Quarrying, Oil and Gas Extraction, Utilities, Management of Companies and Enterprises, Arts, Entertainment and Recreation, Public Administration, Unclassified
Source: York Region, Planning & Economic Development analysis by NAICs; Statistics Canada, CBC by Location, December 2021

BUSINESSES BY EMPLOYEE SIZE

EMPLOYEE SIZE RANGE # OF BUSINESSES
Small Businesses (1-19) 48,427
Medium-sized Businesses (20-99) 4,580
Large-sized Businesses (100-499) 857
Very Large-sized Businesses (500+) 73
GRAND TOTAL: 53,937

Statistics Canada, Canadian Business Count by Location, December 2021

Workers in different sectors
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people having a meeting around a table with laptops and coffee mugs

UNEMPLOYMENT RATES /

 

Source: Statistics Canada, Labour Force Characteristics, 3-month moving average, unadjusted for seasonality
*CMA – Census Metropolitan Area

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VACANCY & AVAILABILITY RATES /

INDUSTRIAL REAL ESTATE MARKET

 

Source: CoStar
Statistics Note: Industrial properties include flex building space

OFFICE REAL ESTATE MARKET

 

Source: CoStar
Statistics Note: Office building space at a minimum of 20,000 sq. ft.

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GREATER TORONTO AREA NEW HOME SALES / 2021

COMBINED

 

Source: Altus Group

SINGLE FAMILY HOMES

 

Source: Altus Group

CONDOMINIUMS

 

Source: Altus Group

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CROSS-CANADA BUILDING COMPARISON /

RESIDENTIAL BUILDING PERMITS

RANK MUNICIPALITY NUMBER OF PERMITS % CHANGE FROM 2019
1 City of Toronto 26,841 44.5%
2 Greater Vancouver Regional District 23,423 -15.4
3 City of Ottawa 11,449 20.4%
4 City of Montreal 11,281 -21.4%
5 City of Edmonton 10,162 -6.1%
6 Peel Region 8,769 -8.4%
7 City of Calgary 8,555 -34.1%
8 York Region 5,832 24.9%
9 Durham Region 5,295 82.5%
10 Waterloo Region 5,056 -20%

Source: Statistics Canada Building Permit Reports and Table 32.2 (unpublished), 2020; York Region Corporate Services, Long Range Planning Division, 2020.

Note: Ranking is in comparison to Cities, Region’s and Regional Districts as defined locally.

VALUES OF TOTAL CONSTRUCTION ($000s)

RANK MUNICIPALITY TOTAL VALUE % CHANGE FROM 2020
1 City of Toronto $11,757,596,000 2.0%
2 Greater Vancouver Regional District $10,296,313,000 1.4%
3 City of Calgary $5,894,018,000 63.2%
4 York Region $5,192,673,000 97.6%
5 City of Montreal $4,962,240,000 11.2%
6 Peel Region $4,210,608,000 32.9%
7 City of Ottawa $3,701,704,000 -12.7%
8 City of Edmonton $3,016,846,000 -5.8%
9 Durham Region $2,780,477,000 11.0%
10 Halton Region $2,386,736,000 -4.7%

Source: Local Municipal Building Permit Reports, 2021; Statistics Canada Building Permit Reports and Table 32.2 (unpublished), 2021.

Note: List includes: Cities, Region’s and Regional Districts as defined locally.