Good day!   

Welcome to the November/December edition of the Hamilton Economic Development Newsletter.  

Airport Employment Growth District Gets First Major Investment
In early November, Panattoni Development Company from the GTA made the first major investment in Hamilton's Airport Employment Growth District. Purchasing 82 acres at the corner of Dickenson Road and Upper James, Panattoni has plans to develop a number of parcels, but will begin with a 1,000,000 square foot facility. Learn more about the investment by following this link.  
New Federal Investment in Hamilton Port       

New infrastructure and goods movement investments are coming to the Port of Hamilton. This $35-million project (with half of the funding coming from the Federal Government) will realign the western half of the port lands to create new developable employment land and see the creation of a multimodal transportation hub at the 115-hectare site. To learn more about the investment in detail, follow this link.  
The Top Post-Secondary Research City in Canada       
Recently, McMaster University was recognized as Canada's most research intensive university for the second straight year by Research Infosource Inc. Adding to this good news, Mohawk College was recognized as Canada's most industry research intensive college by Research Infosource Inc. Having two of the top post-secondary institutions in Canada for research points to the phenomenal programs and talent coming out of Hamilton and will work to boost Hamilton's international recognition as a research and commercialization capital in Canada. We congratulate both institutions for this truly significant achievement!
Meet Hamilton's Fast 40        
As part of the City of Hamilton's Economic Development Action Plan, an ambitious goal of getting at least 10 companies on the Canadian Business Growth 500/Start Up 50 list by 2020 was identified in 2016. As Hamilton was underrepresented on this national list, Economic Development staff knew there were many companies in Hamilton experiencing strong growth and doing great things but most were not receiving much exposure. 
So, in order to change that staff created the Fast 40 program- a program designed to identify some of the fastest growing companies in Hamilton. City staff used their knowledge of their sectors to contact companies they thought should apply. After compiling a Fast 40 list earlier this year, staff studied the Canadian Business Magazine criteria and encouraged suitable companies to apply for the national program.
In all, 12 Hamilton companies made the Growth 500/StartUp 50 published in September, beating the five-year goal of 10. All Hamilton companies were newcomers to the rankings and come from a range of sectors, including transportation, manufacturing, construction, professional services and software.
The City of Hamilton would like to congratulate the following companies on achieving the Fast 40 designation: 
Tourism Driving Employment in Hamilton

Tourism provides a significant source of employment in Hamilton, according to newly released data. Tourism HR Canada recently reported on tourism employment by federal ridings using 2016 Census data. The national organization found that more than 25,000 people were employed in Hamilton's tourism sector, representing around 10 per cent of the labour force.This sector is made up of accommodation, food and beverage, recreation and entertainment, transportation and travel services.

Hamilton's tourism employment figures align to the national average. 1.8 million Canadians are working in the tourism sector or 10.6% of all employed individuals in Canada, making tourism the third largest job creator in the country. Hamilton welcomes more than six million visitors annually who spend an estimated $530 million in the city. For more information on tourism and employment visit Tourism HR Canada.
SR&ED vs IRAP: An R&D Funding Comparison & Analysis       

For software, manufacturing, and technology firms, research remains a key pillar of their business. Fortunately, research and development funding can have a significant impact on Canadian businesses' ability to break through innovation barriers and subsidize their research costs. Two popular funding programs related to R&D are the Scientific Research & Experimental Development (SR&ED) tax credit and the National Research Council's grants through the Industrial Research Assistance Program (IRAP). Both programs should be considered by any Canadian incorporated business that carries out internal R&D activities.

To learn more about which program would be a good fit for your research projects, follow this link
Happy Holidays from Hamilton Economic Development       

2018 has proven to be another banner year for Hamilton's economy. For the seventh year out of the last eight, Hamilton has exceeded $1Billion in building permit values and is on pace to set an all-time single year record. We would like to take this opportunity once again to thank our investment community for their commitment to our economy and for making Hamilton one of the top ranked investment cities in Canada. 
We would also like to take this opportunity to wish you a very happy holiday season and look forward to more economic good news in the new year! 
Thank you for reading!  Don't forget to connect with us via our social media tools for the latest updates in real time.
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