International Business Investment Growth in York Region Driven by ...

Posted on November 5, 2012

Since?2010 over 30 foreign companies publicly announced new investment, re-investment or mergers & acquisitions (M&A) in York Region?s local municipalities, estimated at up to $1.5 billion and creating?over 1,000?net new jobs locally.

Many of these recent investments were made by leading global corporations such as IBM, Hewlett-Packard (HP), Huawei Technologies, Primus Telecom, Teva Pharmaceuticals, General Electric (GE), Siemens, Alexion Pharma, SunEdison/Flextronics, Sungrow Solar, Honda, Volvo, the Bank of China and FedEx.

Up to one in ten jobs in York Region are now with local operations of foreign-owned companies. York Region?s Economic Strategy Branch recently conducted a sample analysis of over 300 foreign companies operating locally with over 40,000 employees in total. Key findings are as follows:

• 90% of business locations and employment of foreign companies in York Region are concentrated in the local municipalities of Markham,Vaughan and Richmond Hill
• Over 50% of foreign companies operating in York Region are headquartered in the U.S., about 30% in Europe and 15% are from Asia
• Information & Communications Technology (ICT) is the top industry cluster for international business presence in York Region in terms of both company counts and employment
• ?The industry clusters of ICT, financial/business services and life sciences jointly account for 65% of total employment by foreign companies operating locally
• U.S. is the major source of international business investment in York Region with 60% of business locations and 75% of total local employment by foreign companies
• Companies headquartered in the three U.S. States of California,New York and Illinois represent half of the total employment by foreign companies in the Region

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  Foreign Owned Companies

  Foreign-owned companies represent a significant share of total Regional employment, and are significant employers in the Region?s knowledge based sectors.

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The Regional Municipality of York is located in the heart of the Greater Toronto Area and is home to 1.1 million residents and 42,000 business establishments, making it one of Canada?s largest municipalities and the second largest business centre in the province of Ontario.

Comprised of nine local municipalities, York Region is a premier business location in Canada. The Region is home to operations of 14 Fortune 100 companies, four of Canada?s top 10 corporate R&D investors, Canada?s second largest Information & Communications Technology (ICT) cluster and global industry leaders in Life Sciences, CleanTech, Financial Services and Advanced Manufacturing.

As Canada?s fastest growing large municipality, York Region has one of the most educated and diverse workforces in North America, the lowest commercial property taxes in greater Toronto and an exceptional quality of life attracting top global talent.

York Region?s Business Advantages

Source: http://www.investinyork.ca/archives/5627

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