York Region construction reached highest level ever at $5.7B in 2021

Development boomed across the region, reaching fourth in the country in construction value, residential permits increase 85%

Newmarkettoday.ca
April 11, 2022
Joseph Quigley

York Region development boomed in 2021, nearly doubling its residential permits and reaching fourth in the country in construction value.

The region reached its highest-ever construction value at $5.17 billion, according to an economic development update presented to the regional council April 7. The figure trailed only Toronto, Calgary and Vancouver. The region also saw an 85 per cent increase in residential building permits, rising to 10,787 from 5,832.

The report discussed economic recovery and York starting to rebound. Manager of policy, research, forecasting, planning, and economic development Paul Bottomley said though the pandemic has hit businesses hard and is still being felt, growth rebounded well in the last part of 2021.

“We are fortunate in York to have a diversified and resilient economy,” Bottomley said. “Strong recovery is anticipated for the remainder of this year in 2022. That does assume that there are no further widespread lockdowns, that supply issues ease somewhat and that consumer spending does pick up.”

Bottomley said regional employment has increased, with the unemployment rate flailing from a peak of 14 per cent in July 2020 and ending 2021 at 6.6 per cent. York Region’s jobs were at an estimated 643,000 in 2021, approaching the pre-pandemic total of 648,200 in 2019.

But jobs have begun to shift. There were more than 5,000 jobs gained across finance, real estate, information, and cultural industries, contrasting with more than 9,700 jobs lost in manufacturing and accommodations.

Bottomley said the losses are in the sectors hardest hit by the pandemic and represent 33 per cent of all businesses in the region.

“Many are still affected and are operating at a slower pace,” he said.

In contrast, he said high-tech has thrived throughout the pandemic, and he highlighted York Region’s more than 4,500 tech businesses.

“Jobs in other knowledge-based industries all recorded strong growth throughout the pandemic,” he said. “But there are reports of labor shortages throughout the industry.”

The region’s population growth was at 1.2 per cent in 2021, adding 14,600 persons in 2021 to a total population of 1,228,200.

Markham Mayor Frank Scarpitti said the region should highlight to upper levels of government the amount of activity happening within York Region and leverage that for investment.

“Use this moment to convey that information,” he said. “The growth that is happening in York Region far outpacing capital cities of other provinces ... Use the moment to tell the story.”