Economy of Hamilton, Ontario

Economic summit

On Friday May 2nd, 2008, Hamilton's most powerful voices in business, the arts, government, social services, health and education called for "breathtaking" change and a reinvention of Hamilton's image at the City's first ever economic summit. cite news | title = Economic think tank 'slam dunk' - Creativity critical to future growth, says urban guru Florida| pages = A-19| publisher = The Hamilton Spectator| date = 2008-05-02| accessdate = 2008-05-05] A crowd of 125 civic leaders met at the Ancaster Old Mill restaurant for seven hours listening to speakers and engaging in group discussions. All agreed that the city has the location, highways, border access, airport, rail and port infrastructure, proximity to Canada's biggest market, health and education facilities and all the natural and built amenities to achieve greatness.cite news | title = An economic resurgence for Hamilton? - Meredith MacLeod| pages = A-1| publisher = The Hamilton Spectator| date = 2008-05-03| accessdate = 2008-05-05] The goal of the summit was to transform the city from good to great.cite news | title = An economic resurgence for Hamilton? - Meredith MacLeod| pages = A-1| publisher = The Hamilton Spectator| date = 2008-05-03| accessdate = 2008-05-05]

There was also widespread confirmation of the city's vision statement: "To be the best city in Canada to raise a child, promote innovation, engage citizens and provide diverse economic opportunities.".cite news | title = Event proves community 'thinking big' - Meredith MacLeod| pages = A-15| publisher = The Hamilton Spectator| date = 2008-05-03| accessdate = 2008-05-05] Many of the city's leaders want to see Hamilton become one of Canada's top cities in less than a decade. The Hamilton Chamber of Commerce, hosts of the event, has promised to establish a secretariat responsible for following up ideas generated at the summit.cite news | title = Event proves community 'thinking big' - Meredith MacLeod| pages = A-15| publisher = The Hamilton Spectator| date = 2008-05-03| accessdate = 2008-05-05]

Some ideas and targets pumped out of the brainstorming session include, creating an independent economic development partnership (one group called a "transformation" office), a rapid transit system, eliminating tax breaks for derelict building downtown, getting a Mohawk campus downtown, developing improvement districts, redeveloping the CN lands in the city's North End and developing a road show, including local businesses, to promote Hamilton.cite news | title = Hamilton Next: FOCUS ON THE FUTURE CITY- "Brainstorming session pumps out ideas, targets"| pages = A-15| publisher = The Hamilton Spectator| date = 2008-05-03| accessdate = 2008-05-05]

Biggest employers

* [http://www.inform.city.hamilton.on.ca/business/report_etop.asp?Thr=100/ Top 100 Employers in Hamilton Ontario]

Hamilton Airport

John C. Munro Hamilton International Airport is the busiest air cargo hub in the country and as well the fastest growing airport in Canada.cite news| title = "John C. Munro Hamilton International Airport Highlights." Page H14|publisher= Invest in Hamilton, Economic Development Review 2005| accessdate = 2008-01-25] Originally, in the 1940s the airport was used as a wartime air force training station. Today TradePort International Corporation manages and operates the John C. Munro Hamilton International Airport. Under TradePort management, passenger traffic at the Hamilton terminal has increased from 90,000 in 1996 to approx. 900,000 in 2002, and has grown dramatically since then. The airport's mid-term target for growth in its passenger service is five million air-travelers annually. Air cargo has increased by 50% since 1996; 91,000 metric tonnes (100,000 tons) of cargo passed through the airport in 2002. Hamilton's air cargo success is due to its 24-7 operational capability and strategic geographic location. Courier companies with operations at the airport include United Parcel Service and Cargojet Canada.cite web| title = "About the Airport"| publisher= John C. Munro Hamilton International Airport| url=http://www.flyhi.ca/index.shtml| accessdate = 2008-01-25] In 2003, the city began developing a 30-year growth management strategy which called, in part, for a massive aerotropolis industrial park centred around Hamilton Airport. The aerotropolis proposal, now known as the "Airport Employment Growth District", is touted as a solution to the city's shortage of employment lands.cite news | last = McNulty| first = Gord| title = Energy City| publisher = The Hamilton Spectator| date = 2007-12-18| accessdate = 2008-01-25] Hamilton turned over operation of the airport to "TradePort International Corp." in 1996. In 2007 YVR Airport Services (YVRAS), which runs the Vancouver International Airport, took over 100 per cent ownership of TradePort in a $13-million deal. In 2008 Citigroup Inc., one of the world's largest financial institutions, invested in 50 per cent of YVRAS, the owner of TradePort, which runs Hamilton airport.cite press release| title =Citi investment would open up options for Hamilton airport| publisher =The Hamilton Spectator| date =Friday March 28, 2008| accessdate = 2008-03-30] The airport is also home to the Canadian Warplane Heritage Museum.cite web| title = Canadian Warplane Heritage Museum| publisher= John C. Munro Hamilton International Airport| url=http://secure.warplane.com/| accessdate = 2008-01-25]

Currently the Airport needs 1,000 hectares of new employment land to handle its growth for the next 25 years; farmland around the airport is the best option available. A report by "Hemson Consulting"cite web| title = Hemson Consulting Ltd.| url=http://www.hemson.com/| accessdate = 2008-01-25] says the city will need greenfields the size of the Royal Botanical Gardens on which to locate businesses that will generate an estimated 59,000 jobs by 2031. Aerotropolis, a proposed 1,050-hectare industrial park at Highway 6 and 403, has been a hotly debated issue at City Hall for years. Opponents feel the city needs to do more investigation about the cost to taxpayers before embarking on the project.cite news | last = McacIntyre| first = Nicole| title = Airport land 'key to future'| publisher = The Hamilton Spectator| date = 2007-01-30| accessdate = 2008-01-25] If Greater Toronto Airports Authority (GTAA) decides not to build the proposed Pickering Airport Hamilton would have a jump in passenger traffic and possibly new airlines it would be the airport to releive strain off of Toronto Pearson which Pickering was intended for.

Waste management

On May-09-2007, Hamilton made a bid to take on Halton's trash, which includes recycling and organic material. Hamilton was the only municipality bidding for the trash. Other bids came in from the private sector. Hamilton hopes to land the contract and would be "optimizing" the use of its facilities that would bring some financial benefits to the city. Hamilton's compost facility currently handles 40,000-tons of waste per year but is capable of 80,000 to 90,000 tons.cite news| title = Hamilton's going after Halton's trash| publisher = Hamilton Spectator| date = 2007-05-09| accessdate = 2008-01-25]

Economic highlights

The Government of Canada has published a Labour Market Bulletin for the Hamilton Area in 2006. The report states that Hamilton has a shortage of hotel facilities, truck drivers and finance professionals, all of which are in high demand. As well, 55% of the manufacturing workforce is expected to retire in the next 15-years and the Ontario government has injected millions of dollars into Hamilton's Education sector. The steel industry also saw some highlights; Stelco emerged from bankruptcy protection and Dofasco has been taken over by Arcelor.

According to Canadian Business magazine Hamilton is also the top location in Ontario for business in 2006. The survey conducted by the magazine ranks cities based on the variable operating costs of doing business, cost of living, non-residential building permits, unemployment rate changes and crime rates. Hamilton was ranked sixth overall in the survey of forty cities across Canada.cite web| title =Hamilton Undiscovered: | url=http://www.hamiltonundiscovered.com/servlet/blogdetail/id/35| accessdate = 2008-01-25]

In 2006, General Electric, "Vicwest Steel" and Swiss-owned "SFS Intec" all chose to relocate to Hamilton from neighbouring G.T.A. (Greater Toronto Area). In addition, existing companies like "Taylor Steel", "G.T. French", "Superior Boilerworks" and "Connon Nurseries" all made major investments in their Hamilton operations. .Invest in Hamilton, Economic Development Review 2006, Hamilton Spectator Insert; Tuesday, May 23, 2007, Page IH3]

Hamilton's [http://www.coppley.com/ "Coppley Apparel Group"] is doing something rare in the Canadian clothing industry - adding jobs. The company plans to expand its employment by almost 200 jobs - about 30 per cent - starting with 50 additional jobs this year in 2007. Coppley's growth burst will bring its workforce to about 750 people, the majority of them in Hamilton. The new jobs follow exploding sales growth as the company uses computer-aided custom tailoring of suits that give struggling retailers a much-needed cash-flow boost. Coppley, which has been a fixture in downtown Hamilton for more than 150 years, pioneered a method of using a computer, a grid and a digital camera to do the work of a master tailor, producing made-to-measure suits in as few as seven days - work that used to take six weeks.cite news| title = Coppley Apparel Group will expand by almost 200 jobs| publisher = Hamilton Spectator, Steve Arnold| date = 2007-06-04| accessdate = 2008-01-25]

A massive McMaster University research campus called [http://www.mcmaster.ca/research/mip.htm McMaster Innovation Park] is currently being developed on the former Camco lands near Westdale.cite web| title = McMaster Innovation Park information| publisher= McMaster University| url=http://www.mcmaster.ca/research/mip.htm| accessdate = 2008-01-25] This will be an "idea factory" employing scientists and technicians. CANMET will employ 100 research scientists and support workers, including some of the top minds in Canada and will be the anchor tenant of the facility. They will be working closely with McMaster researchers and private industry to develop technologies for metal and materials manufacturing, processing and evaluation. Expected to be up-and-running by 2010. Other tenants already announced for the park include a corrosion research centre sponsored by General Motors and a diesel engine research lab sponsored by Ford.cite news| title = Innovation Park out to attract Ottawa scientists| publisher = Hamilton Spectator| date = 2007-06-07| accessdate = 2008-01-25]

On September 27, 2007, Centre Mall owners announce plans for a 23-building super centre on the property on Barton Street East. Cost is estimated to be around $100-million and will take up convert|700000|sqft|m2 of retail space. This will end up being the largest redevelopment project in the history of Hamilton's east-end. The buildings on the property will be grouped around the edge of the property and create a friendly, pedestrian-oriented design rather than a commercial island in a sea of parking.cite press release| title = "Centre Mall owners plan 23-building super centre."| publisher =The Hamilton Spectator| date =2007-09-27| accessdate = 2008-01-25] One week later, on October 4th, 2007, it is announced that the Mountain Plaza Mall at Fennell Avenue and Upper James Street is to be rebuilt in a $50-million project. Announcement made by Flavio Volpe, spokesperson for Smart Centres Ltd., Vaughan, Ontario-based company that bought the Mall on November 2006.cite press release| title = "Mountain Plaza Mall slated for $50-million transformation."| publisher =The Hamilton Spectator; Steve Arnold| date =2007-10-04| accessdate = 2008-01-25]

Red Hill Valley Parkway (popularly called the "Red Hill Creek Expressway") a municipal expressway running through the city, connecting the Lincoln M. Alexander Parkway to the Queen Elizabeth Way near Hamilton Harbour. A four-lane freeway completed in 2007. The parkway was originally scheduled to be opened to vehicular traffic on November 16 but the date was pushed back a day and officially opened November 17.cite web| title = Red Hill Valley Project| url=http://www.myhamilton.ca/myhamilton/CityandGovernment/ProjectsInitiatives/RedHill/|publisher= (www.myhamilton.ca)| accessdate = 2008-01-25]

hopping malls

*Battlefield Square
* [http://www.centremall.ca] Centre Mall
* [http://www.eastgatesquare.ca] Eastgate Square
*Effort Square
*Fennell Square
*Fiesta Mall
*Gulliver Square
*Lloyd D. Jackson Square
*Hamilton City Centre (formerly the Eaton's Centre)
* [http://www.limeridge.ca] Lime Ridge Mall
*Meadowlands Centre
*Mountain Plaza Mall
*South Hamilton Square
*Spartan Square
*Taba Development (Upper Ottawa)
*University Plaza
*Village Plaza
*Waterdown Shopping Centre
*Westcliffe Mall

ee also

* Economic history of Hamilton, Ontario
* List of films shot in Hamilton, Ontario

References