City Council approves five-year Economic Development Action Plan for Hamilton

HAMILTON, ON – Hamilton City Council has approved the 2021-2025 Economic Development Action Plan (EDAP) that will serve as the blueprint for economic development activities over the next five years.

Six priorities have been established for the 2021-2025 Economic Development Action Plan: facilitating a skilled and adaptable workforce; enhancing digital infrastructure and services; growing business and investments; moving goods and people revitalizing priority areas and placemaking building transformational projects

Within the six priorities, 77 Actions have been identified along with several economic development progress indicators and stretch targets.

The EDAP also focuses on increasing the non-residential tax assessment base, economic recovery from the COVID-19 pandemic, a special emphasis on economic activity that embeds an equity, diversity and inclusion approach, considerations for climate change and increased transportation infrastructure projects that will facilitate economic growth.

“The 2021-2025 Economic Development Action Plan (EDAP) is a critical document that will shape the future of our city. The EDAP is focused on taking the burden off residential tax payers by building up our commercial and industrial sectors. If we are to succeed moving forward, we must welcome more businesses and non-residential development like we are seeing in areas such as the Airport Employment Growth District and the Flamborough Business Park.” - Mayor Fred Eisenberger

“This is a sound plan with a focus on innovation and inclusion. I am proud of the work our staff has done and believe this plan reflects the needs of the investment community and our community at large.” - Jason Thorne, General Manager, Planning and Economic Development Department

 
“Over the past several years we have been on an upward economic trajectory and this document is designed to keep the momentum going. The Plan gives greater focus on equity, diversity and inclusion and climate change actions that will benefit not only our economy but our community.” - Norm Schleehahn, Director, Economic Development

“This plan recognizes that public spaces and commercial areas give a sense of character to neighbourhoods and the city as a whole. The pandemic reminded us of the importance of such places and spaces, and with this in mind, the City of Hamilton will continue to invest in priority areas, placemaking and transformational projects to support economic recovery and build resiliency.” - Carrie Brooks-Joiner, Director, Culture and Tourism

Quick facts

• Economic Development staff will be reporting back to Council on an annual basis with measurements around key performance indicators
• Over the course of the last five-year EDAP (2016-2021), the City of Hamilton achieved:
  • Over 7 million square feet of new industrial and commercial development;
  • Achieved Intelligent Communities Forum Top 7 Ranking twice;
  • Attracted seven major events that generated a total economic impact of over $50 million;
  • 10 local companies showcased on the PROFIT Magazine "Fastest Growing Businesses" List.
• Tourism Hamilton has been awarded a national branding award from the Economic Developers Association of Canada EDAC), an Award of Excellence from the Economic Developers Council of Ontario (EDCO) a Tourism Industry Association of Ontario (TIAO) Award of Excellence for Marketing and Municipality of the Year by Festival Events Ontario.
• Economic Development staff will be reporting back to Council on an annual basis with measurements around key performance indicators

Additional resources

• 2021-2025 Economic Development Action Plan
• City of Hamilton Economic Development
• Invest In Hamilton