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Ottawa – Ottawa has a stable, growing economy, according to the City’s Annual Development Report for 2014.
“Ottawa is seeing encouraging growth in business, jobs, and population,” said Mayor Jim Watson. “This report shows we have a stable economy and there are excellent signs of confidence, such as major private sector investment in new retail space.”
“Ottawa continues to grow and our builders are helping us to meet and exceed our targets for residential intensification, including in the suburban communities,” said Barrhaven Ward Councillor Jan Harder, Chair of the City’s Planning Committee. “Ottawa is a great place to live and build a future.”
Prepared by the Planning and Growth Management Department, the report analyzes key indicators of economic development in Ottawa and measures the city against five other large Canadian municipalities: Calgary, Edmonton, Toronto, Montreal and Vancouver.
The report provides information on changes to population and employment, and examines housing, commercial, industrial and retail development. Highlights from the 2014 report indicate:
The report is available at ottawa.ca. It will be considered at the City’s Planning Committee meeting on June 23, 2015.
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“Ottawa is seeing encouraging growth in business, jobs, and population,” said Mayor Jim Watson. “This report shows we have a stable economy and there are excellent signs of confidence, such as major private sector investment in new retail space.”
“Ottawa continues to grow and our builders are helping us to meet and exceed our targets for residential intensification, including in the suburban communities,” said Barrhaven Ward Councillor Jan Harder, Chair of the City’s Planning Committee. “Ottawa is a great place to live and build a future.”
Prepared by the Planning and Growth Management Department, the report analyzes key indicators of economic development in Ottawa and measures the city against five other large Canadian municipalities: Calgary, Edmonton, Toronto, Montreal and Vancouver.
The report provides information on changes to population and employment, and examines housing, commercial, industrial and retail development. Highlights from the 2014 report indicate:
- Ottawa saw $2.7 billion in building permits issued in 2014, up 22 per cent from 2013.
- Employed residents in the Ontario part of the Ottawa-Gatineau Census Metropolitan Area (CMA) rose in 2014 by 1.9 per cent, to 533,800. The Ottawa-Gatineau area saw 12,500 jobs gained in 2014, with 75 per cent of those jobs within Ottawa.
- The housing market remains strong, with 5,537 housing starts in 2014. Average resale prices rose 1.2 per cent to $363,161 in 2014. The average price of a new single detached house was $528,300, up 1.6 per cent from the previous year.
- The City’s strategy of intensification continues to meet success. In 2014, the share of new dwellings built through intensification reached 54 per cent, exceeding the current Official Plan target of 38 per cent. Thirty per cent of residential intensification was in suburban communities.
- The city’s retail sector is growing, with 55,000 square metres (585,000 square feet) of new retail space built in 2014. The report also shows that the vacancy rate for community shopping centres went down from 4 per cent to 1.7 per cent in 2014.
- The City estimates that the population grew by almost one per cent in 2014, to 951,725 by the end of the year.
The report is available at ottawa.ca. It will be considered at the City’s Planning Committee meeting on June 23, 2015.
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