Recently, Newmarket’s Economic Development Advisory Committee (NEDAC) took another look at our Economic Development Strategy which was originally created in 2010. In light of changing economic circumstances and emerging new trends and priorities, the strategy was updated to fully reflect the current conditions. This document will act as our roadmap to help drive innovation and ensure a solid foundation for future community success. It will help to accelerate development in our designated corridors and position us for a new era of growth and prosperity. Three bold themes will help to lead this transformation: Innovation, Collaboration and Urbanization.
In February, Newmarket hosted its first Economic Development Congress which was successful in garnering feedback that will help to shape our future plans for Economic Development. The congress combined Economic Development/job creation with community engagement, which are two key areas of focus for our Council. We brought together local businesses, stakeholders, community organizations and developers to gain an understanding of the opportunities and obstacles as perceived by potential investors. What we heard is that Newmarket’s culture and adaptability to change sets us apart from other municipalities. We were also commended for our collaborative nature. It is this kind of collaborative spirit that has led to much of our economic success and distinguishes Newmarket as one of the country’s best places to live (and work).
With over 40,000 jobs in Newmarket, we have more jobs than ever before. We are also very proud that 46 per cent of people that live in Newmarket also work here. This demonstrates that we are succeeding in providing quality homegrown jobs to our residents. We are very excited at the prospect of two recent announcements, the expansion of Mars Canada and the proposed redevelopment plan for the Upper Canada Mall. These two projects will see a total investment of $130 million in our community.
The Mars Canada expansion, which is now operational, has already created 30 skilled jobs with the potential for more as they ramp up to full production. Mars Canada will now provide product to the entire North American market from its Newmarket facility. Each day they will produce up to 7.5 million MALTESERS or 2.5 billion each year. That is enough to fill seven Olympic size swimming pools.
We also look forward to seeing big changes at the Upper Canada Mall in 2018, where a major redevelopment will add a 35,000 square foot expansion and numerous jobs. This will continue to make Newmarket a premiere shopping destination.
We always encourage local businesses or prospects to contact our Economic development Officer, Chris Kallio (905-953-5131, firstname.lastname@example.org) to find out more about all of the business support and resources we offer. Stay tuned for more many more innovative projects coming soon that will help drive economic development and lead the way to a bright and prosperous future for Newmarket.