Vaughan Makes it More Affordable to Grow Your Business

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Vaughan Makes it More Affordable to Grow Your Business image

City cuts non-residential development charges in half to support investment, business growth and job creation

 

The City of Vaughan is making it significantly less expensive for businesses to build, expand and invest by reducing non-residential development charges by 50 per cent.

 

Through its newly approved development charges, the City has reduced its non-residential development charge rate from $308.06 per square metre to $154.24 per square metre, helping lower upfront costs for commercial, industrial and employment-generating development projects.

 

By cutting non-residential development charges in half, Vaughan is helping businesses keep more money available for investments in facilities, equipment and jobs. The reduced rate makes it easier and more affordable for employers to establish, expand and grow their operations in Vaughan.

 

Located in the heart of the Greater Toronto Area, Vaughan offers businesses access to major transportation networks, a skilled workforce and one of Canada's fastest-growing communities. Coupled with lower development costs, the new rate strengthens Vaughan's position as a premier destination for investment, expansion and job creation.

 

The reduction supports Vaughan’s long-term economic growth objectives and helps accommodate projected employment growth of more than 81,000 jobs by 2051.

 

Development charges help fund growth-related infrastructure and services that support new development, including transportation networks, water infrastructure, public works facilities, fire and emergency services, and other municipal services required to accommodate future growth.

 

The approved reduction reflects Council's commitment to supporting business investment, creating employment opportunities and ensuring Vaughan remains one of the best places in Canada to do business.

 

Businesses and investors can learn more about Vaughan's competitive advantages and growth opportunities by visiting vaughanbusiness.ca/invest.

                                                           

QUOTE

“Vaughan is taking bold action to strengthen our economy, support businesses and create more jobs. Development charges can be a large financial burden for employers looking to invest and grow. By reducing non-residential development charges by 50 per cent, we are cutting down this barrier for investment and making it easier for businesses to establish, expand and succeed in our city. I am proud that Vaughan is leading the way with real action that supports responsible growth, drives economic success and helps secure a strong future for our community.”

– Mayor Steven Del Duca

 

QUICK FACTS

  • The City of Vaughan has approved a 50 per cent reduction in the non-residential development charge rate, from $308.06 per square metre to $154.24 per square metre.
  • The reduction supports Vaughan’s long-term economic growth objectives and helps accommodate projected employment growth of more than 81,000 jobs by 2051.
  • Development charges help fund growth-related infrastructure and services that support new development, including transportation networks, water infrastructure, public works facilities, fire and emergency services, and other municipal services required to accommodate future growth.
  • The updated rate strengthens Vaughan's position as a premier destination for investment, expansion and job creation.

     

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