July 22, 2013
Economic opportunities flourish across more than 700 square kilometers in Caledon – the largest and northern-most municipality in the Region of Peel, part of the Greater Toronto Area (GTA). Remaining competitive with other Ontario municipalities and regions benefits Caledon’s objective to retain and attract industrial and commercial investment.
Strategic, cooperative economic development is vital to Caledon’s future. A sound economic development plan provides local employment opportunities, tax assessment revenues which help to balance and adjust residential property taxes, and countless other spin-off benefits such as the provision of local goods and services, the economic multipliers of increased local spending, and support for the achievement of Caledon’s social and environmental goals.
Growth across our community is inevitable. Well managed growth is necessary for any community that wants to offer its residents an exceptional quality of life. Caledon is one of those communities; our objective is to create a healthy, active, sustainable community in which people have the opportunity to both live and work.
An integrated community economic development program helps achieve that quality of life. By growing the industrial/commercial tax assessment base of our Town, we can provide higher quality public services for citizens.
The Town of Caledon receives revenue from user fees (e.g. summer camps, public skating), development charges for new construction, and assessment growth (taxes). Revenue from these sources goes towards the delivery of cost-effective programs and services for our residents. This means improved roads and infrastructure, increased recreation opportunities, and enhanced community safety, among other things.
A sound economic development approach enhances our community’s quality of life by helping us to compete effectively for jobs and increased employment opportunities; this in turn improves Caledon’s live/work balance. Successful economic development strategies help improve the Town of Caledon’s non-residential tax assessment base by generating more business assessment and wealth. It is a Caledon goal to create a diverse and sustainable economic base and we have adopted five strategic objectives to achieve this goal. An effort to support business retention and existing business expansion keeps current employers here and allows them to expand to meet new markets and opportunities. We have an internationally focused investment attraction program in cooperation with the Greater Toronto Marketing Alliance. We encourage and support entrepreneurship development; helping new, small businesses establish themselves in our community. We actively pursue tourism promotion and investment opportunities for the Town and advocate and facilitate opportunities for new investment at every level.
These strategic objectives, together with their accompanying action plans will assist Caledon to maximize its opportunities, realize its potential and maintain a high quality of life.