Oakville Town Council approves new economic development strategy

Ontario Construction News staff writer

Oakville’s Town Council has approved a new economic development strategy, setting a plan to further strengthen and diversify the local economy over the next five years.

“Through this strategy, Oakville is committed to achieving its economic development vision to be the community where companies want to be,” Invest Oakville says. “The strategy focuses on the attraction, retention and expansion of companies, and provides support to Oakville’s three business improvement areas.”

“With a healthy supply of designated employment land totalling nearly 2,150 gross hectares, and approximately 727 net hectares of vacant employment land, Oakville has room to grow its business base and add new jobs to the community,” the strategy document says.

“The strategy reaffirms the department’s need to focus on office and industrial development for attraction and retention across multiple industry sectors. This is the gap in the ecosystem that other organizations do not address and where Oakville’s Economic Development department can best add value. Small business and foreign direct investment are well-serviced by other organizations and while Oakville’s Economic Development department is a connector between businesses and these organizations, it does not need to be executing in these areas. Connectivity is also an internal role for Economic Development staff at the Town, working with various departments on development approvals and issues that arise for existing businesses.”

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