Oakville ranked among best places in Canada to invest in

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Published August 31, 2023 at 12:18 pm

Award-winning Candybox Marketing is one of several businesses who have chosen to invest in Oakville. For the fifth year in a row, the town has been named one of the best locations in Canada to invest in by Site Selection Magazine. CANDYBOX MARKETING PHOTO

When it comes to finding a location to open or move a business to, Oakville remains a popular choice.

For the fifth year in a row, the town has been named one of the best locations in Canada to invest in by Site Selection Magazine.

The international business publication, which covers corporate real estate and economic development, recently released its “Canada’s Best Locations” list and Oakville was ranked among the top 20 regions to invest.

The publication selected Oakville based on its healthy number of investments resulting in new company arrivals, facility expansions and improvements at existing companies, and new jobs created.

“Growing Oakville’s economy is part of the work we do to become Canada’s most livable town,” said Oakville Mayor Rob Burton. “It feels great to be recognized by this internationally known publication.”

Between April 2022 and March 2023, Oakville welcomed award-winning Candybox Marketing, Xediton Pharmaceuticals Inc., and Blyth Brewing and Distilling. Collins Aerospace, Canadian Hospital Specialties, PCL Construction Canada Inc., Spark Power, and Advantech Supply Chain Solutions expanded, renovated, or upgraded their facilities.

The town says together these investments added new jobs, supporting the local economy and driving economic growth in the community.

“Oakville has so much to offer for those who are looking to start or grow their business,” said Rebekah Diec Stormes, Director of Economic Development. “Our Economic Development team is here to help businesses realize their potential and success in our town.

“We provide services to new and existing companies and work closely with the local business community to support growth.”

Ford Motor Company of Canada continues to invest greatly in the town. This April 2023 the automaker released details on its $1.8 billion investment in the Oakville Assembly Complex, outlining how it will retool and modernize into a high-volume hub for electric vehicle (EV) manufacturing in Canada.

Ford has plans to make the transformation in the second quarter of 2024, and when complete will feature a 407,000 square-foot, on-site battery plant which will produce components for vehicles assembled on-site.

Oakville’s Economic Development department continues to work with Mayor Rob Burton, Chair of the Ontario Auto Mayors, to support the auto industry and the transition to EV.

“The huge commitment from Ford shows Oakville to be a vital piece of the tremendous electric vehicle industry surge bringing tens of billions of dollars in investment to Ontario,” said Adam Bruns, Managing Editor of Site Selection Magazine. “We also know how focused the Oakville team is on balancing ease of doing business with quality of life, both of which enhance the environment for economic development success.”

Oakville also made the magazine’s Best Locations list in 2022, 2021, 2020, and 2019.

For the full list of Canada’s Best Locations in Site Selection Magazine, visit here.

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