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Hamilton Economic Development

Hamilton Highlights Newsletter – October 2017

In the October 2017 edition of Hamilton Highlights…

  • The Amazon Bid is in
  • Stryker Canada Invests in Hamilton
  • Synapse Life Sciences Competition
  • Nix Wins Again
  • Hire an Apprentice
  • Hamilton Health Sciences receives honour for health quality and safety in Ontario

Click here to read the October 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

Don’t look now Toronto, but Hamilton just topped $1 billion in new construction in record time

Steeltown is booming as the affordable alternative to Toronto across the real estate spectrum.

Hamilton said Tuesday it reached $1 billion worth of construction in 2017, at the fastest pace in its history, as Steeltown continues to prove itself as an affordable alternative to Toronto across the real estate spectrum.

Hamilton says it hit $1,003,737,444 on Sept. 29 based on 6,606 building projects in the residential, institutional, commercial and industrial sectors. It was the seventh and sixth consecutive time over the past eight years the city has hit the billion dollar mark.

“This record-setting pace of development is further evidence of the continued boom that Hamilton is experiencing,” said Jason Thorne, general manager of planning and economic development with the City of Hamilton.

The $1 billion of activity through nine months of 2017 compares with $797,117,186 in 2016 for the same period of time and $844,597,780 in 2015.

Hamilton’s housing has been booming as people priced out of Toronto continue to look for affordable alternatives. Canada Mortgage and Housing Corp. has singled out Hamilton as one of five markets with strong evidence of overall problematic conditions.

The city has been impacted by Ontario’s 16-point plan to create affordable housing, including a 15 per cent tax non-resident speculation in the Greater Golden Horseshoe, an area that is home to nine million people and includes Hamilton.

The Canadian Real Estate Board reported in September that the average sale price of a home sold in the Hamilton-Burlington area was $580,195 over the first eight months of year, a 20 per cent increase over the same period a year earlier. By comparison, the average Toronto sale price was $846,379 over that same eight-month period, a 16 per cent increase from a year ago.

Canada Mortgage and Housing Corp. said that as of the end of August, 2017, Hamilton has had 1,852 new construction starts which is down from 1,926 a year earlier. There were 1,669 completions over the first eight months, which is up from 1,233 a year earlier. The average single detached home price that has been absorbed into the market climbed to $706,735 from $553,582.

City officials say the record level of construction is beyond just the housing sector and crosses into commercial activity.

“What stands out in 2017 is a positive trend with regards to the industrial and commercial sectors. For example, Hamilton is seeing an over 200 per cent increase in industrial construction value growth compared to the three-year average. This is a significant move in the right direction towards more of the overall city budget coming from the non-residential taxpayer,” said Glen Norton, director of economic development with the City of Hamilton.

Article courtesy of Garry Marr, Financial Post

Music Entrepreneurs: Build Your Own Brand

This free event is dedicated to helping young and emerging artists from Hamilton to build their brands and enhance their marketing skills.

Date: October 21, 2017

For details go to www.hamilton.ca/hamilton-music-film-office/music-in-hamilton/entrepreneurial-support-and-workshops-musicians

To attend this session register here.

Hamilton Highlights Newsletter – September 2017

In the September 2017 edition of Hamilton Highlights…

  • Stryker Canada invests in Hamilton
  • Doing Business with Government
  • Five Innovative Startup Companies Win Big at LiON’S LAIR Competition
  • Hamilton Wins Big
  • Time to NOSH Again in Hamilton

Click here to read the September 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

Hamilton Brings Home Seven National and International Marketing Awards

For Immediate Release
September 20, 2017

Hamilton Brings Home Seven National and International Marketing Awards

HAMILTON, ON –   The City of Hamilton’s Economic Development Office (EDO) won seven prestigious national and international marketing awards over the past two weeks. The office was celebrated for its foreign direct investment work as well as several marketing initiatives from both the International Economic Development Council (IEDC) and the Economic Developers Association of Canada (EDAC).

From website marketing, investment strategy to special event marketing, connectivity and business friendliness, the City of Hamilton covers it all.

“This recognition is proof once again that the team in Hamilton’s Economic Development Office is truly one of the best, not only in Canada, but also the world, as judged by these results,” said Mayor Fred Eisenberger.

At the International Economic Developers Council annual conference, Hamilton was honoured with four awards from fDi Magazine (a subsidiary of the Financial Times in London, England):

Category: Mid-sized cities (North America)

  1. Winner for best Foreign Direct Investment strategy
  2. A Top 10 City  Overall
  3. A Top 10 City for Connectivity
  4. A Top 10 City for Business Friendliness

The office also won the following awards at the IEDC International Marketing Awards:

  1. Gold Award – Special Event – “Nosh”
  2. Bronze Award – General Purpose Website – www.investinhamilton.ca

The previous week, EDO won the top promotional video at the EDAC National Marketing Awards for “Ambition is in Our Blood.”

“Time and again, the team at Hamilton Economic Development are turning out fantastic work both from an investment side and promotional side, and I am proud to lead such a talented group,” said Glen Norton, Economic Development Director of the City of Hamilton.

As well, Norton was elected to the Board of the Directors for the Economic Developers Association of Canada and the Consider Canada Cities Alliance (comprised of 13 largest cities in Canada).

Background:

Hamilton’s Economic Development Office is the central point of contact for business assistance. Its services are geared to serve new start-up companies, corporate relocations, and the expansion and retention of existing business. Its mission is to serve as the catalyst for continued economic growth, job creation and revitalization in Hamilton.

The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With more than 5,000 members, IEDC is the largest organization of its kind.

The Economic Developers Association of Canada (EDAC) is Canada’s national organization of economic developers pursuing excellence in the field since 1968. The association offers its members professional development, networking opportunities and a comprehensive offering of resources, both on and offline.

The Consider Canada City Alliance (CCCA) unites 13 of Canada’s largest municipal regions to build a sustainable and globally competitive national economy built upon the collective strength of each member’s ecosystem.  As an established network of Investment Promotion Agencies from coast to coast, the CCCA works with national and international networks of partners to make Canada the preferred location for foreign investment and trade.

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MEDIA CONTACTS:

Michael R. Marini MA, Cert. PR, APR, Ec.D.
Coordinator, Marketing
City of Hamilton
905-977-0883
michael.marini@hamilton.ca

Amanda Kinnaird
Advisor to the Mayor, Communications and Media Relations
Office of Mayor Fred Eisenberger
City of Hamilton
905-546-4225
C: 905-973-3263
amanda.kinnaird@hamilton.ca

City sells its technology centre to tenant firm

The city-owned Hamilton Technology Centre (HTC) has been sold to a private company called Clearcable, one of the centre’s tenants.

City officials confirmed the $3.25 million sale on Wednesday, calling it a win-win business transaction for both the city and Clearcable, a company that builds broadband for smaller providers of internet and telecommunications services.

“We had an opportunity to sell it and it was a strategic sale,” said John Hertel, the city’s revenue generation director. “We’re selling it to someone who would continue to operate it as a technology incubator.”

The business incubation centre on Innovation Drive is part of the Flamborough Business Park at Highways 5 and 6. It was funded and operated by the city’s economic development division.

HTC was established by the local municipal government in 1993 as a small business incubator, but the age of the 40,000-square-foot building meant it needed “quite a bit of capital expenditure” to maintain, Hertel said.

City council declared the property surplus in February.

Clearcable president and founder Rob McCann said the sale was completed on Aug. 31.

“This acquisition will help us realize our vision of a private technology innovation centre,” he said.

The company will be renovating, upgrading and doing “leasehold-type improvements” to the building as well as putting in a data centre, McCann said, adding the process will take about five years.

The HTC currently has 16 tenants, including Clearcable, he said.

Among Clearcable’s objectives in owning the building is a revitalization of the HTC’s incubator function by providing investment and leadership — and to connect with other community initiatives such as the McMaster Innovation Park, Innovation Factory and Hamilton Hive.

Clearcable has been in operation since 2004 and a tenant at HTC since April 2016.

Mayor Fred Eisenberger noted the company will adopt the original vision of HTC and “continue to foster the development of emerging technology companies such as theirs.”

Article courtesy of Carmela Fragomeni, The Hamilton Spectator

Hamilton Highlights Newsletter – August 2017

In the August 2017 edition of Hamilton Highlights…

  • Strategic Innovation Fund: $1.26B in New Funding for Business Growth and Innovation
  • Don’t Miss the Seventh Annual LiON’S LAIR Awards Gala!
  • Competition to Select the Design for Hamilton’s Newest Waterfront Park
  • Business Improvement Area (BIA) Happenings

Click here to read the August 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

Hamilton Highlights Newsletter – July 2017

In the July 2017 edition of Hamilton Highlights…

  • Hamilton Health Sciences and IBM Launch Health Innovation Hub in Downtown Hamilton
  • Advancing Water Technologies
  • Immigrant Entrepreneurship in Focus
  • 13 Teams Vie for Development Rights as the City RFQ process for Pier 8 Lands Closes

Click here to read the July 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

Hamilton Highlights Newsletter – June 2017

In the June 2017 edition of Hamilton Highlights…

  • Hamilton Consulate in Toronto
  • Office Space in Hamilton
  • NOSH 2017
  • CME SMART Green Fund
  • Meet Ted Scott

Click here to read the June 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

Hamilton Highlights Newsletter – May 2017

In the May 2017 edition of Hamilton Highlights…

  • Hamilton Consulate Takes Toronto
  • What is the Future of the Hamilton Bayfront Industrial Area?
  • Hamilton SBEC is Looking for Young Entrepreneurs!
  • The Hamilton Lunch
  • Blood Test Save Lives

Click here to read the May 2017 Hamilton Highlights newsletter.  If you are interested in signing up for the Hamilton Highlights newsletter, click here.

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ECONOMIC DEVELOPMENT NEWSLETTER

WELCOME TO HAMILTON

Ranked Canada's most diversified economy, home to Canada's busiest multi-modal cargo airport, the busiest port on the Canadian Great Lakes, and centrally located within a one hour drive to Toronto, Waterloo and the Niagara/US Border, Hamilton is at the center of it all. With two internationally renowned post-secondary institutions in the city (surrounded by 23 other), a diverse and learned workforce and both ample greenfield and urban sites upon which to build, we're ready for your investment.

Welcome to unstoppable.