Ontario's Construction Industry Is Booming
Building Permits In The Province Reach Near Record High
Ontario's construction industry is thriving, creating jobs and keeping the province's economy moving forward. The seasonally adjusted annual rate of housing starts in Ontario was 77,300 units in January - up from 69,600 units in December.
The value of building permits issued in Ontario rose sharply in December, reaching $2.9 billion, the second highest level on record.
Ontario's construction industry employs 442,500 people and has gained 33,900 jobs over the last two years. Residential construction contributed over $41 billion to Ontario's economy in 2010.
Providing the right climate to attract investment and build business is part of the McGuinty government's plan to strengthen the economy and create jobs for families across the province.
- In 2010, Ontario's construction industry accounted for 5.2 per cent of Ontario's Gross Domestic Product.
- If passed, the proposed Healthy Homes Renovation Tax Credit would support about $800 million in home renovation activity and around 10,500 jobs each year.
- 173 sky-scrapers are being built in Toronto, the most in North America. New York is second with 96.
- Ontario created 121,300 net new jobs in 2011, more than 45 per cent of all jobs created in Canada last year.
- Ontario's Tax Plan for Jobs and Growth will cut taxes on business investment in half, making the province more competitive and encouraging new business investment.
“The construction industry is helping to drive economic growth and providing good jobs across the province. Ontario's economic recovery is already ahead of many other jurisdictions. As a government, we are focused on continuing to strengthen our economy and create jobs for Ontario families.”