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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 4,600 companies and Ontario’s second largest financial and professional services sector with more than 4,900 companies. Toronto area's York Region is where talent and opportunity intersect.
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KEY YORK REGION STATISTICS


55,000+
BUSINESSES


616,000
LOCAL JOBS


1,300
NEW BUSINESSES

10-Year Annual Average


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)


13
FORTUNE 100 COMPANIES
WITH OPERATIONS IN YORK REGION


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


700,000
LOCAL LABOUR FORCE

(Estimated 2022)


2,700
COMPANIES EXPORTING GOODS

(Estimated 2018)


$81.4 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 9,974
23 – Construction 6,501
Other* 5,239
44-45 – Retail Trade 5,075
62 – Healthcare and Social Assistance 4,829
81 – Other Services (Except Public Administration) 3,679
41 – Wholesale Trade 3,387
72 – Accommodation and Food Services 3,002
53 – Real Estate and Rental and Leasing 2,857
31-33 – Manufacturing 2,552
56 – Administrative and Support, Waste Management and Remediation Services 2,431
52 – Finance and Insurance 2,081
48-49 – Transportation and Warehousing 2,076
61 – Educational Services 809
51 – Information and Cultural Industries 689
71 – Arts, Entertainment and Recreation 479
GRAND TOTAL: 55,660

* 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, June 2022

BUSINESSES BY EMPLOYEE SIZE

EMPLOYEE SIZE RANGE # OF BUSINESSES
Small Businesses (1-19) 49,964
Medium-sized Businesses (20-99) 4,767
Large-sized Businesses (100-499) 851
Very Large-sized Businesses (500+) 78
GRAND TOTAL: 55,660

Statistics Canada, Canadian Business Count by Location, June 2022

Workers in different sectors
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UNEMPLOYMENT RATES

 

Source: Statistics Canada, Labour Force Characteristics, 3-month moving average, unadjusted for seasonality, NOC 2021, custom tabulation
*CMA – Census Metropolitan Area

NOTE: Due to the large volume of data in the unemployment rates graph it may not appear as intended on mobile devices. It is recommended to view this chart on a desktop browser.

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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.

YORK REGION BUSINESS COMMUNITY – INTERACTIVE SNAPSHOT