The report detailed cities across the province set to provide the best investment opportunities over the next five years, based on key performance indicators such as population growth, vacancy rates and infrastructure. Hamilton remained atop the list trumping Kitchener and Cambridge, Ottawa and Toronto.
According to Neil Everson, Economic Development Division director for Hamilton, new companies moving into the city have attracted new residents – and lowered vacancy rates. “Buildings are being filled and companies are leasing those vacant spaces,” he said. In fact, vacancy rates dropped 26 per cent from the last quarter, and the city posted $532 million in building permit values.
REIN President Don Campbell praises Hamilton’s improvements to infrastructure and economic development as key to the city’s success.
“If you want to attract young professionals, you need to provide the infrastructure they want,” he says. “Hamilton's reputation from the outside is a little sullied. It's not a steel town. While steel is still a player, high tech and young professionals are redefining the city.”
While some may be shocked that Hamilton toppled Canada’s financial and national capitals for the second year straight, Everson feels the city is reaping it’s just desserts. “It's well-deserved, but it's not surprising,” he said. “We've had a perfect year.”
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