Economic Development Strategy: 2019 - 2024

A New Economic Development Strategy for Oakville

Oakville’s livability is the strength of the community and a major factor in company locational decisions. The Economic Development Strategy builds on this key differentiator to create an environment where companies want to locate and where existing companies will thrive.

Vision: Oakville is the community where companies want to be.

The strategy speaks to the collective aspirations that emerged as priorities for a diverse and prosperous economy in Oakville. It is based on a comprehensive understanding of the town, businesses and stakeholders. It leverages the town’s strengths, competitive advantages and opportunities as well as addresses challenges.

The strategy’s three goals focus on attracting new investment, responding to the needs of local businesses and supporting its commercial districts. The Town will continue to improve processes to make it easier to do business in Oakville, and will work with companies to be responsive to their needs. Through strategic initiatives, the Town will continue to build an environment that is welcoming, agile, and forward-looking.

Economic Development Strategy: 2019 - 2024

Developing a New Strategy

Oakville's current ten-year Economic Development Strategy was approved by Council in 2009. The Town was awarded the Economic Developer Achievement of the Year Award for this work, the highest honour given by the Economic Developers Council of Canada.

Economic Development Strategy: 2009 - 2019

As the existing strategy nears completion, the department is in need of a new strategy to support continued economic growth in Oakville over the next five years.

Community Engagement

The views and opinions of Oakville businesses, community partners, and residents are essential to creating a strategy that will ensure sustainable economic growth.The consultation process involved approximately 200 participants engaged through:

  • Interviews: one-on-one interviews with major employers, developers, and community partners
  • Online survey: residents and community stakeholder surveys
  • Focus groups: focus group sessions with local businesses, real estate, government partners, community organizations, and residents
  • Public open house: the community was invited to meet with staff and project consultants at a public open house

Situational Analysis

A quantitative analysis of Oakville’s economic base was conducted to create a situational analysis that includes an economic profile, and demographic, labour force, and competitive analyses. The situational analysis was used to inform the development of the draft strategy.

The Town of Oakville Economic Development Strategy project has been made possible thanks to federal support from the Invest Canada - Community Initiatives fund.