TERM OF COUNCIL PRIORITY
Attract investment and create jobs
Job Growth Equals Strong Economy The City of Vaughan is committed to pursuing opportunities that will strengthen its local economy and global reach. Businesses choose Vaughan because it has a lot to offer – location, growing customer base, and an educated and skilled workforce.
Vaughan is now home to more than 11,370 businesses.
More than 208,000 people are employed in Vaughan, up from 176,000 in 2011.
Average annual employment growth 2006-2016
Vaughan is the largest employment centre in York Region, accounting for 38 per cent of the total regional employment.
Since 2006, there has been an increase of 3,301 businesses in Vaughan from 8,069 to 11,370 or a jump of 3.5 per cent in business growth. Small business continues to be a significant economic driver, making up more than 80 per cent of all the companies in Vaughan. For the last 10 years, Vaughan has had the highest average annual employment growth and the second highest business growth within York Region. Employment has surpassed the national (0.4 per cent), provincial (0.5 per cent) and regional (3.1 per cent) growth rates between mid-2015 and mid-2016, growing by 3.6 per cent.
Entrepreneurial Hub Vaughan’s suite of entrepreneurial services continues to grow. This year, eight local entrepreneurs received commercialization
MOMENTUM REPORT · 2016/2017
support through the Vaughan Business Enterprise Centre (VBEC) and Ontario’s Ministry of Economic Development and Growth, in partnership with the Vaughan International Commercialization Centre (VICC), a program led by Economic Development and Culture Services. These commercialization-stage companies were able to access opportunities to test their new products in real-life settings, join a co-working office space, and received mentorship and guidance from seasoned business owners and consultants. Through all stages of growth — from creating a business plan and finding the right location to testing a new product and establishing market channels — VBEC and Economic Development and Culture Services provide support to Vaughan’s vibrant entrepreneur community.