According to the Town of Milton, they're headed for a record-setting year of 2.5 million square feet of non-residential growth, as outlined in a staff report to Milton Council yesterday.
The Town is set to more than triple its annual target of 750,000 square feet of non-residential assessment, which produces significant development charges and new tax revenue.
Seven new developments are expected to receive permits in 2015: Emery Investments, Healthcare of Ontario Pension Plan (HOOPP), Kylin and CREIT, Prologis (three facilities), and Sun Life Financial. Expansions planned this year are Lowe’s Canada, Crawford Metals and a.b.m. Canada.
The report also provided an update on the Milton Education Village (MEV) Innovation Centre. Currently, the facility is active with 10 business tenants occupying individual offices. The Centre expects to exceed its annual target for office space rentals by 150% in just its second year of operation. The Centre is also working with a number of partners to establish an application (Apps) development incubator for start-up and early stage companies. The incubator is currently being run by tenant Throwback Entertainment, and features a device testing lab that allows companies to test their applications across a range of mobile equipment. This initiative will help build the identity of the Centre and become a feeder system for future tenants and users of the space. The Centre has also become a location of choice for business and technology-related events and meeting space rentals. Wilfrid Laurier University currently uses two offices and one large classroom at the Centre where they have been offering continuing education courses.
For more information on the Town’s Economic Development program, visit http://www.miltonthiswayup.ca/. The full report (ES-022-15) can be found on the Town’s website.
