Implementation Plan – Economic Development and Tourism Strategy (2021-2026)

The following are key points for consideration with respect to this report:

• A new five-year Economic Development and Tourism Strategy (2021-2026) was approved by Council on February 1, 2021 (ADMIN-2020-0040). The Strategy is comprised of 26 Goals and Objectives, and 137 Actions. It is the Town’s roadmap for supporting, growing and diversifying the local economy by expanding non-residential assessment and local jobs.
• Non-residential assessment is fundamental to the Town’s financial health and its ability to deliver the services that residents and business rely on as well as a wide range of Council priorities, including those related to affordable housing and climate change.
• Since its approval, significant progress has already been made in implementing the Strategy. About 40 percent of the actions are currently underway and 7 percent have been completed.
• An actionable, effective and practical Implementation Plan has been prepared to drive ongoing implementation – see Appendix A for a summary. The Implementation Plan is part of an ongoing shift in the Town’s economic development efforts to be more strategic, coordinated and impactful, including an active focus on pursuing high quality investments that generate the greatest community benefits, a higher number of jobs per development, increased non-residential assessment, and leveraging the Town’s commitment to climate change action.
• Between 2021 and 2026, implementation will entail (including funds already used in 2021) a total investment of approximately $1.75 million over the five-year (including 2021) period and assumes continuation of the historic funding levels, as outlined in this report and subject to annual review and any necessary adjustments.

• This report impacts and/or helps address climate change and the Town’s resiliency through climate adaptation.
• Several elements of the Economic Development and Tourism Strategy Implementation Plan support ongoing cross-departmental initiatives that address climate change – particularly those actions associated with growing the Green Economy in Halton Hills.
• This includes establishing a Green Economy Hub, forming partnerships with post-secondary institutions, attracting new clean technology/renewable energy businesses and supporting green development.
• The establishment and growth of a local clean technology sector will provide the Research and Development, technology, innovation, products and/or services that will be critical to reaching the Town’s Net Zero target, while retaining the economic benefits within the local economy