BRAMPTON – The 2023 Annual Report of the City of Brampton’s Economic Development Office celebrates landmark investments, expanding development and construction activity and record-breaking business growth. Brampton is a thriving ecosystem of entrepreneurship and innovation. From groundbreaking startups to global enterprises, the City is at the forefront of driving economic prosperity and technological advancements. Whether a startup or an established company, Brampton offers endless opportunities for growth.
By the numbers:
- 104,530 registered businesses in Brampton, an increase of 13.4%
- $2.3 billion total Construction Value
- Over 5.36 million square feet of approved Industrial, Commercial and institutional (ICI) development applications
Business Highlights:
- Axium Packaging Inc. is investing over $80 million in a new plastics manufacturing facility with 250 new jobs.
- Lululemon, a popular athleisure clothing company, announced it is building its largest distribution facility in North America, in Brampton, bringing 1,500 new jobs.
- Alectra opened a new 400-employee LEED Certified Operations Centre.
- Magna International is expanding its operation in Brampton, with a new facility manufacturing battery trays for electric vehicles. This facility will create 560 new advanced manufacturing jobs in Brampton.
Brampton’s Innovation District continues to be a destination for startup businesses across the globe. Home to a network of companies, educational institutions, incubators and accelerators, the Innovation District supports tech enabled businesses at all stages of development.
Innovation District Highlights
- Brampton GO Station renamed to Brampton Innovation District GO
- Brampton Angels, launched in March 2023, provides early-stage companies with mentorship, access to risk capital, networking and growth opportunities.
- Brampton Venture Expo hosted its 3rd Annual Tech Expo with 450 startups, founders, investors and creatives
- International business incubator BHive conducted 40 training sessions with 1,200+ participants
- 105 patents filed by companies / alumni of Innovation District
- Nation-wide tour stop in Brampton by Startup Canada, with 6,300+ attendees virtual and in-person
MedTech Task Force
In 2023, Brampton also launched its MedTech Task Force with the goal to advance medical innovation in Brampton. With new and established life sciences companies calling Brampton home and the recent announcement of Toronto Metropolitan University’s new medical school, Brampton’s health and life sciences sector is in an exciting phase of growth.
The MedTech Task Force’s key focus is to:
- Find new ways to attract investment to support science, research and commercialization
- Support the development of highly skilled jobs and training opportunities for the medical industry, and
- Foster the development of Brampton’s health technology ecosystem
In 2024, the City will continue to build on the momentum of 2023. This year, as part of Collision Conference, a global tech event attracting over 36,000 participants from more than 118 countries, Brampton is hosting The Gathering, an exclusive pre-conference event in the heart of the vibrant Innovation District. This marks the first time the event is being held in North America.
For more information and to view the Economic Development Office 2023 Annual Report visit investbrampton.ca.
“2023 has been an exciting year for Brampton. Businesses continue to choose Brampton and there is a reason for it. With a surge in investment, a growing entrepreneurial market and a commitment to fostering growth, we are a beacon of economic prosperity. From talented startups to global giants, Brampton is the destination for those wanting to thrive and to innovate.” – Patrick Brown, Mayor of Brampton