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Oakville has been named one of the best locations to invest in Canada by Site Selection Magazine for the fifth year in a row.
The international business publication covering corporate real estate and economic development released its “Canada’s Best Locations” list, ranking the Town of Oakville among the top 20 regions to invest.
For 2023, Oakville was listed among 11 unranked finalists among cities and towns in Ontario. Nearby Burlington was also on this same finalist list.
A statement from town hall says, “Oakville continues to be celebrated as a top choice for site selection based on a healthy number of investments resulting in new company arrivals, facility expansions and improvements at existing companies, and new jobs created.”
“Oakville has so much to offer for those who are looking to start or grow their business,” says Rebekah Diec Stormes, the town’s 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.”
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.
Together, these investments added new jobs, supporting the local economy and driving economic growth in the community.
In April 2023, Ford Motor Company of Canada 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.
In addition to this year, Oakville made Site Selection Magazine’s Canada’s Best Locations list in 2022, 2021, 2020, and 2019.
Visit Site Selection Magazine’s – Canada’s Best Locations to see the full results and more information about the rankings.
Site Selection Magazine’s Canada’s Best Locations list highlights the top 20 regions for investment in alphabetical order and by province with the most representation.
For more information on the town’s Economic Development office and key business resources, you can visit the refreshed Invest Oakville website here.
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