UrbanToronto Industry Updates: Advancing Vaughan’s economy

Urbantoronto.ca
July 25, 2022

Involving citizens in matters that impact them remains a top priority for the City of Vaughan. That’s where the 2018-2022 Term of Council task forces come into play, addressing a range of policy areas that are important to the community. At the inaugural meeting for this term, Mayor Maurizio Bevilacqua announced the creation of new task forces related to economic development, transportation, older adult issues, diversity and governance.

As these task forces wrap up this year, the City will be sharing highlights from each of them once their findings reports are ratified by Vaughan Council. Most recently, the Economic Prosperity Task Force report was brought forward.

This task force was approved by Council in May 2020, and Ward 4 Councillor Sandra Yeung Racco and Deputy Mayor, Local and Regional Councillor Mario Ferri were appointed as Chair and Vice-Chair, respectively.

The task force had an overall mandate to advise on how the City can best deliver an economic development function that would increase the well-being of citizens by making it easier for businesses to thrive. This included creating opportunity statements -- the ideal state the City can explore -- to spur sustainable economic growth and create more jobs, higher incomes, better living standards and a healthier municipality.

Following careful research, consideration and dedication to this mandate, the appointed members developed the Economic Prosperity Task Force Findings Report, which was presented to Council on June 28, 2022. It outlines the following recommendations:

That Council endorses and refers the following seven opportunity statements to staff to help inform the next Economic Development Strategic Business Plan:

• COVID-19 Impact Opportunity Statement -- Support organizations to be flexible and adapt to unexpected challenges, such as a global pandemic.
• Vaughan’s Economic Identity Opportunity Statement -- Convey the narrative that Vaughan is a world-class city with innovative and transformational projects and opportunities.
• Built-Form Opportunity Statement -- Create an environment of prosperity for businesses and residents across a diverse range of job sectors.
• International Business Development Opportunity Statement -- Adopt an international approach to talent, commercial and cultural development.
• Talent Development Opportunity Statement -- Engage and further mobilize Vaughan’s diverse talent pool.
• Tourism Development and Creative Industry Opportunity Statement -- Activate Vaughan’s arts, culture and tourism assets through ongoing partnerships with businesses and community organizations.
• Small Business and Entrepreneurship Opportunity Statement -- Reduce barriers to business ownership and business expansion.
• That an economic prosperity advisory body is established for the 2022 to 2026 Term of Council.