TD economic forecast offers strategic insight into Oshawa’s local economy
Back to SearchTD Deputy Chief Economist, Derek Burleton recently delivered the 20th annual economic forecast to business professionals and community leaders from across the G.T.A. at the City of Oshawa’s Economic Outlook Event.
The Economic Outlook Breakfast was presented by the City’s Economic Development Services Branch with TD Commercial Banking and the Greater Oshawa Chamber of Commerce.
During the 20th annual address, Deputy Chief Economist Burleton highlighted key aspects of the global, national, and Ontario economies. Mr. Burleton also provided a local perspective on Oshawa’s economic landscape.
Oshawa Mayor Dan Carter and Councillor Tito-Dante Marimpietri, Chair of the Economic and Development Services Committee delivered welcoming and closing remarks.
The City spoke of Oshawa’s record-breaking growth, noting Oshawa has tracked $1 billion in commercial, industrial and institutional development over the past five years, with major industrial companies bringing their global operations and thousands of new jobs. These new employment opportunities are making Oshawa one of the fastest growing communities in Canada and a destination of choice to live, work, learn and invest.
Unprecedented industrial development, anchored by prestige employment lands at Northwood Business Park, is attracting major new job creating tenants like global diary leader Lactalis Canada and international retail supply chain giant Martin Brower.
Significant investments and key developments taking place across the city represent over 7,000 direct jobs in Oshawa since 2020.
Oshawa’s Economic Development team presented additional highlights, including the recent launch of the Oshawa Economic Development Strategy, a 10-year strategy that focuses on enhanced trade, diversification and quality of life and positions Oshawa for future economies, opportunities and overall growth.
Named as having the fastest development approval timelines in the G.T.A., the City of Oshawa offers a business-friendly environment with innovative tools such as the City of Oshawa Economic Dashboard, providing real-time economic indicators, socio-economic and demographic data to investors and decision makers.
Up-to-date information on development, statistics, news and more is available at www.oshawa.ca/investoshawa or follow @InvestOshawa on Twitter.
For more information on local business events, visit the Greater Oshawa Chamber of Commerce website. Research reports by TD Bank Group Economics are available at www.td.com/economics.
Quotes:
“Looking back on our history, the great City of Oshawa has always thrived in the face of global and national pressures, proving time and again, our strength and resilience,” said Oshawa Mayor Dan Carter. “With our diverse population, rich talent pool and robust economy, Oshawa stands ready for a future of exciting growth and opportunity.”
“Oshawa is successfully driving an exciting new metropolitan direction, attracting massive job-creating investment in our community, propelling prestige industrial growth with millions of economic spin-off to unprecedented levels in our city,” said Councillor Tito-Dante Marimpietri, Chair of the Economic and Development Services Committee. “Prime, centrally located employment lands like Northwood Business Park remain a magnet for industry-leading blue-chip global giants from around the world, drawn to the unique opportunities Oshawa has to offer as a critical gateway to the most populous area of Canada and as one of Toronto’s most dynamic neighbours.”
“As a central hub within the G.T.A., Oshawa continues to have a competitive edge with its proximity to major markets, top-tier research facilities and a skilled and talented labour pool,” said Councillor Bob Chapman, Vice-Chair of the Economic and Development Services Committee.
"As we navigate a landscape marked by both significant challenges and emerging opportunities, the Greater Oshawa Chamber of Commerce remains steadfast in its commitment to fostering community prosperity,” said Jason King, CEO of The Greater Oshawa Chamber of Commerce. "The latest Canadian Data Lab insights reveal that despite facing headwinds like high interest rates and evolving consumer behaviours, there's an underlying current of optimism within our local business community. We’re grateful to have had the opportunity to hear from Derek and learn how we can leverage his insights alongside this data and optimism to strengthen our pathway to sustainable growth for Oshawa.”
“As we continue to navigate through economic uncertainty, we recognize the importance of addressing factors that may drive growth and the challenges and risks that may lie ahead, "said John Doris, District Vice President, South East Ontario for TD Commercial Banking. "We hope that discussions like these are beneficial to our clients and the broader business community.”
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