In a huge announcement this week, Mississauga will become home to Bombardier’s 41.2-acre, one-million-square-foot, global facility for manufacturing their Global business jets.
The city, just outside of Toronto and with a growing population of 750,000, ranks sixth largest in Canada. Now officially larger than Detroit, Washington, Boston, Denver and Vancouver, the city promises to expand even further with thousands of Bombardier jobs on offer.
The news comes on the heels of huge transit plans with the Hurontario Light Rail Transit (LRT) development – a $1.4-billion project developed by Metrolinx and the cities of Mississauga and Brampton.
It’s an LRT that will serve communities from Milton to Lakeshore West’s Go Lines. With 22 stops in total, the LRT will also connect to MiWay, Zum, Brampton Transit, and the Mississauga Transitway at Square One.
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In addition, Greater Toronto Airports Authority (GTAA)has also announced that it will partner with Metrolinx to extend the Eglinton Crosstown West LRT from Renforth to Toronto Pearson Airport. Dubbed Union Station West, the $40 million commitment will make Pearson a truly accessible international travel hub.
The total price tag of $78 million will enhance all transit connections throughout the region, highlighting Pearson’s key role in Ontario – and Canada’s – economic future.
According to the GTAA, the area around Pearson is the second-largest employment zone in Canada. The airport facilitates 6.3 per cent of Ontario’s GDP, directly employs 49,000 people and facilitates more than 300,000 jobs throughout the province of Ontario.
"Mississauga is thrilled to welcome Bombardier to our city - a leading global aerospace hub and home to Canada's largest aerospace sector," said Mississauga Mayor Bonnie Crombie in a statement.
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"Bombardier could have picked anywhere in the world to locate their Global Manufacturing Centre but they chose Mississauga. Not only will this investment support jobs and attract talent, but it will also boost economic growth and help raise Mississauga's profile as a global aerospace hub where innovation in aerospace thrives."
With the capacity to build over 100 planes per year, the industry hopes to train and employ thousands in the process.
"Today, I’m very excited to announce the relocation of our Global aircraft family production activities to a new, cutting-edge manufacturing facility at Toronto Pearson," said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc..
“This is a strategic move for Bombardier and a strong commitment to Ontario's aerospace industry. It will allow us to offer world-class career opportunities and continue fuelling the economic development of the region for years to come."
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In part, Bombardier was attracted to Mississauga’s ideal location. Its business community represents over 98,000 corporations, 1,400 multi-national firms, and 76 Fortune 500 companies. The huge move is also a logical one given Mississauga's attractiveness to businesses overall and the aerospace sector in particular.
And that’s not even speaking of it’s aerospace industry. In fact, over 345 aerospace companies employing 28,000 employees have made Mississauga their permanent corporate home. That includes airlines, aerospace manufacturing, airport services and support services for aerospace manufacturers.
It remains to be seen what impact the announcement will have on Mississauga's super hot housing market. According to a just released ReMax Canadian housing market outlook report, housing prices in Mississauga could climb five per cent next year.
That’s well above the predicted 3.7 per cent average house price hike nationally. The report calls the country-wide increase a healthy one.
Also, work has just begun to widen18 kilometres of Hwy. 401 to Milton from Mississauga. The goal of the $640 million project is to cut commute times.
So far, just preliminary work is underway at Bombardier’s newly-selected site. Construction is expected to begin in 2023.
