Hamilton Builds an Economic Action Plan for the Future
Can a big city increase its land supply that is ready for
development by 500 acres in one fell swoop? Or maybe add seven million square feet of new Industrial/Commercial space? How about generating $2 billion worth of new construction value or, while we’re at it, building a state-of-the-art film studio?
If the city’s nickname is ‘The Ambitious City,’ then the answer is most definitely a resounding YES!
The City of Hamilton’s Economic Development Department has launched its Action Plan 2016-2020 and this is very much a blueprint for the near future.
Glen Norton, Director of Economic Development for the City of Hamilton, notes that businesses located in Hamilton are now showing up regularly in Profit Magazine’s Top 200. That is a strong indicator that the city is well on its way to becoming a magnet for small business leaders.
Glen also points out that the City of Hamilton just reached no. 21 on the Intelligent Communities Forum for 2016, which is a global ranking of cities around the world. This, of course, is a major achievement and indicative of the recognition Hamilton is rapidly gaining on the international front.
Says Norton: “Hamilton has been in an investment upswing for the past ten years so we decided to set the bar as high as possible for the next five years. We have done that with what we call ‘stretch targets’ and we have 11 of them. In a nutshell they are ambitious goals that challenge current assumptions and processes.”
So what is the desired outcome of all this? That’s easy. To build on Hamilton’s already thriving economy and produce results that justify retaining the title of the most diversified economy in Canada. The idea is to make the city a thriving hub of entrepreneurship and innovation for North America, not to mention a go-to place for developing the best workforce in the province of Ontario.
Goals like these will accomplish a great deal. Such goals will not only lead to the growth of non-residential tax assessments, but in a significant way increase the number of jobs in a booming economy, and not only that but enhance the Hamilton region which already encompasses vibrant districts of commerce and culture.
Yes, reaching these stated ‘stretch targets’ makes for a bright future for the city. Indeed, a strategic investment like this in infrastructure will position Hamilton very well for growth in the future. It will put the city on a path that will showcase it as the best place to live, work and invest in all of North America.