MARKHAM ECONOMIC PROFILE
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1 MARKHAM ECONOMIC PROFILE Thriving Markham is strategically located in the Greater Toronto Area, Canada s economic heartland. Most up to date electronic copy is available online
2 ECONOMIC OVERVIEW Markham and the North American Market LEGEND Economic Overview High-Tech Cluster Life Sciences Cluster Industrial/ Commercial Activity Residential Activity & Utilities Quality of Life Demographic Profile Labour Force Profile Additional Vital Resources Contacts Produced by the City of Markham Culture and Economic Development Department Tel: edoinfo@markham.ca Markham and the Greater Toronto Area MIlton 7 Halton Hills 25 QEW HALTON Burlington ONTARIO Caledon Brampton PEEL 401 Mississauga 407 Oakville QEW 400 Vaughan 427 King YORK 9 Newmarket DVP Lake Simcoe East Gwillimbury Aurora Richmond Hill Whitchrch Stouffville MARKHAM City of Toronto Georgina 48 Uxbridge City of Markham Regions Regional Boudaries Municipal Boudaries Pickering 7 Ajax Whitby Lake Ontario Oshawa Lake Scugog DURHAM 400 Highway Series Provincial Highways Go-train Unionville Line 7A 115 Clarington 401 Pearson Airport Buttonville Airport
3 Expanding business base. Motivated, highly educated workforce. Affluent, diverse population. By every measure, Canada s high-tech capital and 16th largest municipality is thriving. The award-winning City of Markham is the largest of nine communities in York Region, with a population of over 351,000 and a land area of 212 square kilometres. 10,200 1,000+ Over 1,000 technology and life sciences companies are based in Markham. These two sectors alone employ 37,000 people over one-fifth of the total workforce of 162,000. Strategies for Growth 349, ,000 Of the 10,200 companies in Markham, there are more than 400 Canadian head offices located here including IBM, Aviva Insurance, AMD, Bank of China, GE Digital Energy, Honeywell, Huawei Technologies, Lenovo, Johnson & Johnson, Toshiba, Honda and Hyundai. 162,000 37,000 Markham is maintaining its economic momentum by following its 10-year economic strategy, Markham In targeting specific growth sectors, the City continues to attract companies specializing in ICT, life sciences, financial services, design and engineering, professional scientific services, and information and cultural industries. Here, businesses find skilled workers from around the world who are drawn to Markham for its exceptional quality of life (see page 8). Internationally, the City s profile has benefited from several economic alliances and a frequent exchange of business missions to and from Asia, the USA and Europe reaching out to global markets to bring investment into Markham as well as opening doors for Markham-based businesses to expand. Markham s TOP 20 EMPLOYERS IBM CANADA LTD. TD FINANCIAL GROUP CITY OF MARKHAM MARKHAM STOUFFVILLE HOSPITAL THE MILLER GROUP AMD TECHNOLOGIES INC. CGI INFORMATION SYSTEMS JOHNSON AND JOHNSON INC. ESTEE LAUDER THE LIBERAL ALLSTATE INSURANCE MMM GROUP CAA SOUTH CENTRAL ONTARIO BROOKFIELD GLOBAL INTEGRATED GE DIGITAL ENERGY AUTOLIV ELECTRONICS CANADA INC. HOMELIFE BAYVIEW REALTY INC. FIRST STUDENT CANADA HONDA CANADA HUAWEI TECHNOLOGIES Data source: 2015 York Region Employment Survey 3 MARKHAM ECONOMIC PROFILE
4 HIGH-TECH CLUSTER INDUSTRIAL CATEGORY NUMBER OF COMPANIES 4 Computer Systems Design and Related Services 278 Engineering Services 96 Computer, Computer Peripheral and Pre-Packaged Software Wholesaler-Distributors Electronic and Precision Equipment Repair and Maintenance 54 Management Consulting Services 43 Graphic Design Services 40 Electronic Components, Navigational and Communications Equipment and Supplies Wholesaler-Distributors Software Publishers 29 Data Processing, Hosting, and Related Services 24 Wireless Telecommunications Carriers (except Satellite) 23 Semiconductor and Other Electronic Component Manufacturing 20 Navigational, Measuring, Medical and Control Instruments Manufacturing 18 Research and Development in the Physical, Engineering and Life Sciences 18 Other Scientific and Technical Consulting Services 14 Computer and Peripheral Equipment Manufacturing 13 Other Telecommunications 12 Wired Telecommunications Carriers 10 Environmental Consulting Services 10 All Other Electrical Equipment and Component Manufacturing 6 All Other Professional, Scientific and Technical Services 6 Surveying and Mapping (except Geophysical) Services 5 Industrial Design Services 5 Management of Companies and Enterprises 5 Other Communications Equipment Manufacturing 4 Electrical Equipment Manufacturing 4 Electric Power Generation 3 Telephone Apparatus Manufacturing 3 Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing 3 Internet Publishing and Broadcasting, and Web Search Portals 3 Geophysical Surveying and Mapping Services 3 Audio and Video Equipment Manufacturing 2 Communication and Energy Wire and Cable Manufacturing 2 Manufacturing and Reproducing Magnetic and Optical Media 1 Research and Development in the Social Sciences and Humanities 1 TOTAL Note: Data was obtained from the 2015 York Region Business and Employment Survey. While every effort has been made to ensure the accuracy of this information, the Regional Municipality of York and the City of Markham can accept no responsibility for any inaccuracies, errors or omissions. Some industry categories can be found under both the high-tech and life sciences clusters because the functions of the companies support both sectors.
5 LIFE SCIENCES CLUSTER INDUSTRIAL CATEGORY Professional Machinery, Equipment and Supplies Wholesaler-Distributors NUMBER OF COMPANIES 51 Medical Equipment and Supplies Manufacturing 34 Medical and Diagnostic Laboratories 20 Computer Systems Design and Related Services 15 Pharmaceuticals and Pharmacy Supplies Wholesaler-Distributors 14 Research and Development in the Physical, Engineering and Life Sciences Management of Companies and Enterprises 8 Testing Laboratories 7 Navigational, Measuring, Medical and Control Instruments Manufacturing 6 Home Health Care Services 5 Office Administrative Services 4 Pharmaceutical and Medicine Manufacturing 3 Toiletries Preparation Manufacturing 3 Management Consulting Services 3 Other Scientific and Technical Consulting Services 3 Computer, Computer Peripheral and Pre-Packaged Software Wholesaler-Distributors Research and Development in the Social Sciences and Humanities TOTAL 191 Markham Convergence Centre The Markham Convergence Centre serves as a one-stop innovation hub for entrepreneurs and businesses looking to commercialize their technologies or business ideas. This dynamic space and its many tenants work together to create a business eco-system dedicated to propelling ideas from concept to market. The 30,000-square-foot facility gives emerging innovators access to advisory organizations offering a range of services: Commercialization support to take small and medium enterprises to the next level of growth, especially in health technologies Strategic partnership development and funding options Access to research and development opportunities, contracts and assistance in the industrial and academic sectors RESIDENT ORGANIZATIONS venturelab Innovation York Markham Small Business Centre Markham Board of Trade National Research Council s Industrial Research Assistance Program Ontario Centres of Excellence York Angel Investors Central Counties Tourism Numerous exciting start-ups and SMEs Bring your ideas. Share your dreams. Create new ventures with the capacity to go global. For more, go to or drop in at 7271 Warden Avenue. MARKHAM ECONOMIC PROFILE
6 INDUSTRIAL/COMMERCIAL ACTIVITY Development Activity 2016 Tax Rates (%) 6 From premium corporate, commercial and industrial developments to outstanding mixed-used communities, Markham is creating the infrastructure needed to sustain a vibrant environment for all. This includes working to maintain the lowest tax rates in the GTA. Toronto Mississauga Vaughan Markham COMMERCIAL 2.64% 2.03% 1.71% 1.67% INDUSTRIAL 2.70% 2.37% 2.00% 1.96% Value of Construction (January June 2016) 360,860,431 Number of Building Permits Issued (January June 2016) ,716,895 13,539, INDUSTRIAL/COMMERCIAL/ INSTITUTIONAL RESIDENTIAL MISCELLANEOUS (see note below) INDUSTRIAL/COMMERCIAL/ INSTITUTIONAL RESIDENTIAL MISCELLANEOUS (see note below) Miscellaneous includes Agricultural, Swimming Pools, Demolitions, Septic, Signs, Tents, Decks, Designated Structures, Heating & Plumbing Only and Partial Permits. Industrial Commercial Development Vacant Employment Land Inventory 2016 Land Use Designation Categories Serviced and Market Ready (acres) Average Price Per Acre (Industrial) 850, ,000 Average Price Per Acre (Commercial) 1,400,000-1,500,000 Unserviced (acres) Business Park Employment Mixed Use General and Service Employment Commercial n/a Industrial Inventory, 2016 (Q2) Total inventory (sq.ft.) 36,525,240 Vacancy rate class A 2.8% Average net rent (sq.ft.) 5.60 Commercial Office Inventory, 2016 (Q1) Total inventory (sq.ft.) 7,219,385 Vacancy rate class A 8.4% Average net rent (sq.ft.) All values are in Canadian Dollars. Source: Colliers International
7 RESIDENTIAL ACTIVITY & UTILITIES Residential Development 16% New Residential Unit Profile (January June 2016) 3% 30% 51% Number of New Residential Units Per Year ,082 7 SINGLE DETACHED SEMI-DETACHED TOWNHOUSE UNITS Average Home Prices (Toronto Real Estate Board, Market Watch, June 2016) Detached Link Semi-Detached Attached/Row/Townhouse Condo Townhouse Condo Apartment Municipal Utilities APARTMENT UNITS ,593 1,366, , , , , ,017 Water & Sewer Infrastructure, 2016 Rate Water & wastewater rate per cubic metre /m 3 Sanitary sewers Water mains Electricity Costs and Charges, Business Rates km km , , ,444 January-June 50KW OR LESS Distribution rate Monthly fixed charge GREATER THAN 50KW DEMAND Distribution rate Monthly fixed charge /kWh 26.77/month 3.464/kW /month MARKHAM ECONOMIC PROFILE
8 8 QUALITY OF LIFE A key part of Markham s competitiveness strategy is to build and maintain a community that appeals to an upscale, welleducated, culturally diverse workforce. Throughout Markham, families have the opportunity to enjoy award-winning community centres and libraries, top-performing schools, prestigious neighbourhoods, festive celebration events, and charming heritage villages. The City supports a Group of Seven-inspired art gallery, a museum, a 500-seat theatre and extensive parklands. Markham s Greenprint strategy drives many initiatives to create a healthier, more sustainable community for all. Among many successes, the City boasts the highest waste diversion rate in the Greater Toronto Area. Markham is home to high-quality healthcare services through the expanded Markham Stouffville Hospital and other facilities, and to Seneca College, a premier post-secondary educational research and training facility. For details on available programs, visit Recreation & Culture Number of Parks 212 Trails/pathway system 151 km Public Libraries 7 Community centres & facilities 31 Golf Courses 9 Ice Arenas 10 pads Flato Markham Theatre, Markham Museum, Varley Art Gallery Heritage areas Thornhill Village, Unionville Village, Markham Village, Buttonville Village Public Health & Education Markham Stouffville Hospital (beds) 265 Shouldice Hernia Centre (beds) 89 Elementary schools 74 High schools 14 Community Colleges (within 1 hr drive) 8 Universities (within 1 hr drive) 7 Transportation Infrastructure & Service Providers Roads (excludes private roads) 1227 km Highways (404 and 407) 32 km Sidewalks km Multi Use Path 26.9 km York Region Transit (YRT)/Viva Toronto Transit Commission (TTC) GO Transit CN Rail ETR Toronto Buttonville Municipal Airport
9 DEMOGRAPHIC PROFILE Population Projections (York Region Forecast as of November 2015) Mother Tongue Breakdown (2011 Census) 311, , , , , , ,100 English 32.9% 40.0% Chinese 9 South Asian 11.6% (actual) % All Other Educational Attainment (2011 National Household Survey) 40% University Degree/Diploma/ Certificate 19% Trade, College or Non-University Diploma/Certificate 25% High School Certificate 16% Less than High School Male 0 to 9 17, to to to to to to to AGE Population Age Characteristics 3,370 5,210 (2011 Census) 7,715 8,330 Female 16,345 20,780 19,275 15,150 15,845 20,395 19,435 18,040 20,880 22,645 25,645 21,790 23,470 MARKHAM ECONOMIC PROFILE
10 10 LABOUR FORCE PROFILE Basic Indicators (2011 National Household Survey) Number of Persons Employed 160,225 Unemployment Rate 8.1% Labour Force Participation Rate 64.7% Labour Force by Industry % (2011 National Household Survey) Finance, Insurance, and Real Estate 12.6 Professional, Scientific and Technical 11.6 Retail Trade 10.3 Manufacturing 9.6 Health Care and Social Assistance 8.0 Wholesale Trade 7.5 Educational Services 6.5 Accommodation and Food Services 6.3 Information, Cultural, Arts, Entertainment and Recreation 5.0 Public Administration 3.8 Construction 3.5 Other 15.3 Income Levels of Persons Reporting Income (2011 National Household Survey) Markham Average 42,610 Wage Rates (Ministry of Labour) Minimum Wage Rate (Rates will apply as of October 1, 2016) Under 18 years of age Over 18 years of age Average Earnings, by Selected Occupation, in the Greater Toronto Area (2011, Statistics Canada) Sales and service 28,600 Art, culture, recreation and sport 35,500 Processing, manufacturing and utilities 40, 100 Trades, transport and equipment operators and related 45,300 Health 47,400 Business, finance and administrative 48,000 Social Science, education, government service and religion 60,700 Natural and applied sciences and related 62,200 Management 90, 100 Ontario Average 42,264 Canadian Average 40,650 Note: For other Census and National Household Survey topics, please visit Data for Average Earnings by Selected Occupation is based on the Toronto census metropolitan area (CMA), from Statistics Canada. Table Earnings of individuals, by selected characteristics and National Occupational Classification (NOC-S), 2011 constant dollars, annual, CANSIM (database). (accessed: )
11 ADDITIONAL VITAL RESOURCES HELP GROW YOUR BUSINESS! 11 venturelab venturelab is where talented entrepreneurs can access proven tools, expert mentors and business support to grow their innovative, scalable and growth-oriented businesses. We are a member of ONE (the Ontario Network of Entrepreneurs), a collaborative network of organizations across Ontario, designed to help entrepreneurs commercialize, scale and grow their businesses. venturelab is located at the Markham Convergence Centre at 7271 Warden Avenue in Markham. info@venturelab.ca Markham Small Business Centre Markham Small Business Centre (MSBC) is an innovative public and private sector alliance providing a complete source of services and programs for Markham entrepreneurs and small businesses. Funded by the City of Markham and the Ontario Ministry of Economic Development, Employment and Infrastructure, Ministry of Research and Innovation, MSBC provides Markham s aspiring entrepreneurs and existing small businesses with high-quality, one-on-one management consulting, educational training, and the business resources needed to sustain their growth in today s competitive marketplace. MSBC also works to encourage entrepreneurship as a career option for Markham s youth. The Markham Small Business Centre is located at the Markham Convergence Centre at 7271 Warden Avenue. msbc@markham.ca x6722 MARKHAM ECONOMIC PROFILE
12 CONTACTS Frank Scarpitti, Mayor Alex Chiu, Councillor Ward 8 Chair of Economic Development Committee achiu@markham.ca Alan Ho, Councillor Ward 2 Vice Chair of Economic Development Committee alan.ho@markham.ca Economic Development Department Stephen Chait, Director schait@markham.ca x 4871 Chris Wilson, Assistant to Director cwilson@markham.ca x 6170 Christina Kakaflikas, Manager, Special Projects ckakaflikas@markham.ca x 6590 Huyen Hare, Sr. Business Development Officer hhare@markham.ca x 5255 Sandra Tam, Sr. Business Development Officer sandratam@markham.ca x 3883 Don De Los Santos, Manager Markham Small Business Centre ddelossantos@markham.ca x 3663 Tiffany Mak, Small Business Coordinator Markham Small Business Centre tmak@markham.ca x 2528 Brigitte Sharpe, Small Business Assistant Markham Small Business Centre bsharpe@markham.ca x 6497 Business Associations Association of Chinese Canadian Entrepreneurs (ACCE) Canada-Pakistan Business Council (CPBC) Canadian Tamil Business Council (CTCC) Federation of Chinese Canadians in Markham (FCCM) Indian Institute of Technology Alumni Canada (IITAC) Indo Canada Chamber of Commerce (ICCC) Markham Board of Trade Philippine Chamber of Commerce Toronto Richmond Hill/Markham Chinese Business Association (RHMCBA) TechConnex Most up to date electronic copy is available online MARKHAM ECONOMIC PROFILE
MARKHAM ECONOMIC PROFILE
MARKHAM ECONOMIC PROFILE 2 0 1 7 Thriving Markham is strategically located in the Greater Toronto Area, Canada s economic heartland. Most up to date electronic copy is available online www.business.markham.ca
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