A year in review | 2023 highlights | Sector initiatives and impact summary report | Digital enhancements & research | Policy advocacy | Building Possibility: Trend report | Development and growth updates

Executive summary paragraph

Milton’s new sector roadmap

In the past year, the Economic Development team has played a crucial role in fostering growth and prosperity within the community.  Through strategic initiatives and dedicated support, significant new investments have been attracted, laying the groundwork for a vibrant economic landscape.  Additionally, a commitment to nurturing businesses of all sizes has created a supportive ecosystem, empowering entrepreneurs and bolstering the local economy.  Reflecting on economic growth, the groundwork for a prosperous future within the community is evident. 

The work completed from the Economic Development Strategy in 2023 included a focus in three areas:

  1. Investment attraction and business retention for Milton’s key sectors.
  2. Developing and nurturing partnerships with academic and community partners to support innovation and entrepreneurship.
  3. Enhancements of accessible digital tools that will continue to drive awareness for the community and build upon Milton’s capacity for attracting new investment.

This year the team launched into new goals from Milton’s new economic development strategy. The subsequent sections of this report highlight key initiatives, achievements and trends defining Economic Development’s work in 2023.

A year-in-review: Innovation evolution

Significant progress has been made on Milton’s 5-Year Economic Development Strategy. 

2023 highlights

Impact in numbers

  • Milton saw a 17% increase in new businesses joining the community in 2023
  • Finalized new Economic Development sub-brand and marketing plan.
  • Launched two entrepreneurial pilot projects with local small businesses related to sustainability and digital transformation.
  • Created new partnership with Milton Innovation Community and host inaugural meeting attended by 50 local entrepreneurs and small businesses supporting Milton’s Professional Services sector.
  • Town’s Digital Service Squad assisted 879 small businesses.
  • Brought total of $200,000 in Transformation Grants funding into the community and directly into the hands of small businesses through the Digital Main Street Program.
  • Supported over 3.8 million square feet in expansion of new Industrial, Commercial and Institutional (ICI) development in 2023.
  • Supported the ongoing and streamlined development process for 9,827,899 sq. ft. of industrial development- either newly constructed or now proposed for Derry Green Corporate Business Park.

Sector initiatives, events & impact summary report

Net Zero Event Series continued – Small business sustainability

In alignment with Milton’s target sector work, staff led a highly successful Road to Net Zero event for small business. This collision-style event, hosted by Milton Economic Development’s Digital Main Street lead in April, brought together over 30 small businesses to discuss strategies for reducing their environmental impact, and leverage their efforts for marketing purposes.

Those who attended were eager to network and build connections. Economic Development staff assisted in connecting attendees during and post event, which has resulted in building new business partnerships, creating funding applications, and building research project partnerships while also helping to enhance local sales.

Economic Development staff continue to be active participants in growing relationships and partnerships that formed as a result of this event by providing resources, making connections and seeking additional opportunities for collaboration. Overall, the Road to Net Zero for Small Businesses was a highly successfully strategic initiative that supported the growth of Milton’s growing entrepreneurial business community.

Empowering entrepreneurial ambition

One of the six guiding principles in Milton’s new Economic Development Strategy highlights the need to nurture a culture of innovation in Milton’s thriving entrepreneurial community. The work completed in 2023 focused on re-igniting and creating new partnerships to ensure Milton’s entrepreneurs have access to programs and services that help start and scale businesses. 

Leading Milton’s Temporary Patio Program through fourth successful season

The fourth season of the Temporary Patio Program played a crucial role in bolstering the economic recovery of local restaurants.  Following the success of previous seasons, Milton Council endorsed another season in 2023.

Despite an initially reserved response from restaurants, this season soon revealed the program’s intrinsic value, serving as a catalyst for local restaurants navigating their ongoing economic recovery journey.  Additionally, for the first time, the Temporary Patio Program ran concurrently with the Milton Farmers’ Market, operated by the Milton Chamber of Commerce, adding to the vibrancy of Main Street and drawing locals and visitors alike to enjoy the lively atmosphere of outdoor dining and community connection.

Twelve applications were received in 2023, with two new restaurants joining the program.  Nine of the restaurants were located along Main Street and seven were in the Downtown Business Improvement Area (DBIA).  Staff provided concierge-level support to all applications, offering additional assistance for those needing modifications to their site plans.  The focus remained on educating applicants, providing access to resources and creating opportunities for collaboration to reduce expenses.  The 2023 season concluded with 100% of participating restaurants requesting the program continue in 2024, further aiding in their economic recovery. 

Digital Main Street

The Digital Main Street program provides support in three key areas: through the Digital Service Squad providing guidance on enhancing online presence, grant funding and the ShopHERE program. In the third and final year of the Digital Main Street program, the Town of Milton’s Economic Development Team secured funding to onboard a Digital Service Squad member.  This initiative aims to provide dedicated support for local small businesses seeking guidance in navigating the digital landscape. 

It is crucial to acknowledge the programs role in fostering economic resilience, empowering local businesses to adapt digitally and maintaining the community’s competitiveness in today’s digital marketplace.  Thanks to the collaboration between the Town of Milton’s Economic Development department and Digital Main Street, over $200,000 in grant funding has been directed to Milton business owners, facilitating their digital transformation journey over the last three years.

 

Digital Main Street - Milton by the Numbers

 2021

 2022

2023

Total # of inquiries

485

661

879

Total hours of support provided by DSS

215

984

1723

DTG Grant approvals

19

32

26

Digital enhancements & research

The evolution of GIS planning tools – Milton’s Data Centre 2.0

Milton Economic Development recently made an investment in GIS Planning – ZoomProspector, known as Milton’s Data Centre. This powerful GIS platform provides location analysis for site selectors, businesses, community partners, and internal staff to research, analyze, and drill further into Milton-based data.

Updated features include:

  • Interactive site selection tool displaying available industrial and commercial properties in Milton.
  • Community profile data including Milton demographic, businesses, occupation, labour force, and consumer expenditures with a range of analytics tools to explore.
  • Visualize dynamic and interactive maps, charts, infographics, and reports with the ability to adjust radius, pinpoint a specific neighbourhood, and drive time.
  • Save, share, and download reports, custom maps, property cards, charts and infographics with just a click of a button.

Service improvements for this tool will continue into 2024. Visit Milton.ca to explore the data centre.

Policy advocacy

Through regular input and engagement with our local business community, it was identified that a number of policy issues could be supported to improve local business conditions for recovering businesses. These efforts included:

  • Technical Advisory Committee participation for Milton’s new Official Plan.
  • Transportation Technical Advisory Committee/ Metrolinx to advocate for advancement of Milton's integrated transportation needs and priorities.
  • Continue in the support of stronger Local 5G Network Enhancements to Connectivity through Regional Working Group securing pilot projects for Milton neighbourhoods.
  • Providing guidance and informational sessions on Milton’s local growth policies in support of economic resiliency and future growth plans for the regional official plan review (ROPA). Offered expertise and recommendations on the development of longer-term strategy.

Through 2023 the Economic Development team participated in policy advocacy work and represented the Town on a number of local and regional committees, such as:

  • GTA Economic Recovery Alliance Working Group
  • Milton Economic Development Advisory Group
  • Peel Halton Workforce Board
  • Halton Region Tourism & Retail Committee
  • Milton Chamber of Commerce Government Relations Group
  • Advanced Manufacturing Supercluster (AMS) Halton Working Group
  • Auto Mayors Group
  • Halton Digital Access Strategy- Implementation Team
  • Halton Climate Collective
  • Future of Cities Adjudicator

Building Possibility: Trend report

A Year-at-a-Glance (Industrial, Commercial, Institutional Development)

Milton Economic Development plays a vital role in supporting sustainable development and further growth. We work to create a balanced and diversified tax base for capital projects that improve the quality of life in the community.

Non-Residential Development in 2023

Non-Residential Development

182

Number of Permits Issued

3.8 million sq. ft. approx.

Square Feet in ICI Building Permits (2022: 2.5 million) 

$407,097,227

Total ICI Construction Value ( 2022: $108,423,227)

21.4%

of Milton’s total Weighted Assessment is Non-Residential

Source: Town of Milton Building Department & Development Finance Department, 2023

Milton Industrial Market 

Milton Industrial Market

Industrial Vacancy Rate

10.4%

Industrial Inventory sq. ft.

26,733,772 sq. ft. (Q4 2023) 23,420,442 sq. ft. (Q4 2022) 21, 518,919 sq. ft. (Q4 2021) 21,144,665 sq. ft. (Q4 2020)

Industrial Under Construction

1,568,968 (Q4 2023) 3,313,152 sq. ft. (Q4 2022) 1,151,468 sq. ft. (Q4 2021) – 1, 230,956 sq. ft. and 498,450 sq. ft. (Q4 2020)

Average net lease rate/per sq. ft.

$18.68 (Q4 2023) $18.11 (Q4 2022) $11.95 (Q4 2021)  $9.08(Q4 2020)

Average asking sale price/per sq. ft.

$344.00 (Q4 2023) $344 (Q4 2022) $ 338.90 (Q4 2021) $278.30 (2020)

(Source: CBRE, GTA Industrial Market Report Q4 2023)

Development activities & growth area updates

There continued to be growing interest in dedicated, flexible office space, hybrid supportive work spaces for employers and entrepreneurs in 2023. The Milton Education Village (MEV), and Transit Station Area in Milton’s downtown will play an important role in the evolution of suburban office and hybrid work solutions for residents, as well as local talent retention and future opportunities for business attraction in Milton.

Future office development

As Milton’s economic landscape continues to evolve, the future of office development holds promise for creating vibrant, modern workspaces tailored to meet the diverse needs of businesses.  With strategic planning and foresight, upcoming office development projects aim to contribute to the town’s growth trajectory and enhance its appeal as a premier business destination.  Additionally, 10,000 sq. ft. of inventory was added, with ongoing efforts behind the scenes to further expand inventory in the near future.

Industrial development pipeline - Derry Green highlights

The Derry Green Business Park continues to advance, marking a significant milestone in its contribution to Milton’s thriving economy.  Derry green is progressing through phased development, with phase 1 (West) achieving a pivotal 60% land development approval, facilitating utility servicing and paving the way for Phase 2 (East).

Phase 1 boasts notable occupants in distribution, logistics and advanced manufacturing.  Construction is in full swing, prioritizing employee well-being with amenities like green spaces and trail systems. 

Derry Green Tenants

  • DSV ­– North American Head Office – Global Transportation and Logistics Facility
  • Edgewell Personal Care, ULC – Distribution Warehouse Facility
  • Lululemon – Distribution Warehouse Facility
  • Princess Auto Distribution Warehouse (Relocating to expand to larger facility)
  • 511 Food Service
  • ROCKWOOL (Additional facility and further expansion of existing assets in Milton)
  • General Mills
  • Lowes

Looking ahead to phase 2, the introduction of Milton Gates Business Park will provide 67 small bay industrial condo units within a 420,000 square foot development.  This initiative aims to support small to medium-sized businesses, complementing the existing industrial landscape in Derry Green.   The industrial development pipeline within Derry Green remains focused on fostering sustainable economic growth and prosperity for the Town of Milton.

Milton Education Village update

A number of steps have been taken to advance the development of the Milton Education Village throughout 2023.

Schlegel Villages

Construction on the Schlegel Villages site continues on the first phase of their long term care facility in late 2024. This will bring much needed additional long-term care beds into the provinces healthcare system.

The Schlegel Villages space will also include experiential learning space in partnership with Conestoga College. This will support the development of future healthcare professionals and create a seamless pathway from learning to employment.

Wilfrid Laurier University

Laurier took over a short-term lease of the entire first floor at 555 Industrial Drive in order to meet increasing demand for expanded class offering in Milton prior to its campus opening on the MEV in 2028.  Renovations continue to take place to create a warm and engaging environment for students, staff and community members in preparation for welcoming its first class of students in fall 2024.

Laurier announced Computer Science and Psychology will be the inaugural programs offered in its Milton campus.  In fall 2024, Laurier launched a comprehensive marketing campaign to attract and recruit prospective undergraduate students. 

Conestoga College

Conestoga College has completed construction on their facility on Parkhill Drive in the 401 Business Park area of Milton with plans of opening to students in January 2024.

The Parkhill campus will be an interim campus space from which they will offer a range of academic programming, including Applied Computer Science and IT, Business, Community Services, Creative Industries, Engineering and Technology, Health and Life Sciences, as well as Workforce Development.

In addition to this site, a third acquisition within Milton on Steeles Ave was made by Conestoga in 2023.

Concurrently, Conestoga are in the process of developing their own campus masterplan for the MEV and have publically announced their first intended building to open in 2028.

Place making

CultureDays Guide

The Town of Milton was proud to again support an exciting slate of creative projects for Culture Days, a national celebration that highlights the importance of arts and culture in our communities.

In partnership with Milton’s Culture team, the economic development team collaborated on a digital CultureDays Community Guide promotional campaign featuring local hotspots and small businesses that visitors should see when attending Milton’s Culture Days festivities.