The City of Brampton’s Economic Development Office has released its 2024 Annual Report, showcasing significant growth, substantial investments, and innovative progress across the city. Brampton remains a key destination for businesses, driven by strategic advantages such as its prime location, talented workforce, and business-friendly environment.
The city’s economic landscape continues to thrive, attracting both global corporations and dynamic local startups. This diverse business ecosystem further solidifies Brampton’s role as an epicenter of entrepreneurial innovation and economic prosperity.
Economic Highlights:
- 111,000+ registered businesses in Brampton
- $653M+ total Industrial Construction Value
- $204M+ total Commercial Construction Value
- $384M+ total Institutional Construction Value
- 620 Industrial, Commercial, and Institutional (ICI) permits issued
Major Business Developments:
- Handi-Foods established its manufacturing facility, creating 175 new jobs
- HelloFresh launched a 200,000 sq. ft. facility, adding 600 new jobs
- Toronto Metropolitan University (TMU) School of Medicine, opening in 2025, will generate 1,588 full-time positions and indirectly support nearly 19,000 jobs province-wide
- Stellantis invested $25.1M in a 500,000 sq. ft. state-of-the-art MOPAR Parts Distribution Centre, employing 250 workers
Brampton Innovation District: Fueling Entrepreneurial Growth
In 2024, Brampton’s Innovation District continued to serve as a vibrant hub for innovation and startup development, boasting impressive results:
- 126 startups graduated from Innovation District programs
- $37M investment secured by participating startups and alumni
- 19 patents filed by Innovation District participants
- 321 events hosted, engaging 9,000+ participants
- Over $2.3M invested into Canada’s startup ecosystem via Brampton Innovation District and Brampton Angels
Supporting Businesses Amid Trade Uncertainty
In response to global trade uncertainties, the City of Brampton remains dedicated to supporting local businesses through proactive engagement and strategic resources. The Economic Development Office provides essential tools, including the Tariff Resource Hub (available at investbrampton.ca/tariffs), to help businesses adapt and thrive in the evolving global marketplace.
View the full 2024 Annual Report at investbrampton.ca.
Quotes from City Leadership:
Patrick Brown, Mayor, City of Brampton “Our 2024 Economic Development Annual Report highlights why Brampton continues to lead as one of Canada’s fastest-growing cities. We are proud of our vibrant economy, global partnerships, and innovative community, all of which demonstrate Brampton’s readiness to embrace the future.”
Gurpartap Singh Toor, Regional Councillor, Wards 9 & 10; Chair, Economic Development, City of Brampton “The impressive figures from this year’s report underscore our city’s strong economic foundation. We remain committed to fostering growth and supporting entrepreneurs who are shaping Brampton’s prosperous future.”
Rowena Santos, Regional Councillor, Wards 1 & 5; Vice-Chair, Economic Development, City of Brampton “Brampton’s continued economic resilience and commitment to innovation enable businesses to flourish. Our strategic investments and robust Innovation District equip our entrepreneurs and businesses to succeed amidst global challenges.”
Marlon Kallideen, Chief Administrative Officer, City of Brampton “Our economic achievements in 2024 reflect Brampton’s strategic approach to growth. We are committed to attracting investments, supporting business expansion, and ensuring sustained economic success for years to come.”
Denise McClure, Director, Economic Development, City of Brampton “This year’s Annual Report underscores Brampton’s dynamic business environment. From nurturing startups to drawing global corporations, we are dedicated to sustaining a thriving and competitive economic landscape for our businesses and residents alike.”