Economic Development Office Annual Report: 2023 a record-breaking year for Brampton 

April 24, 2024

BRAMPTON, ON (April 24, 2024) – 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. 

Click here to download the Brampton Economic Development Office 2023 Annual Report.


“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, City of Brampton 

“The City of Brampton’s Economic Development Office, through its 2023 Annual Report, unveils a narrative of remarkable growth and opportunity in our city.  Brampton saw a 13.4% increase in the number of businesses in our community, a testament to economic growth and a promising future. As we reflect on the many successes of 2023, I look forward to continuing to build on the momentum and make 2024 even better!” 

Gurpartap Singh Toor, Regional Councillor, Wards 9 and 10; Chair, Economic Development, City of Brampton  

“Economic development is vital to a community’s overall well-being as it plays a significant role in advancing sustainable growth and prosperity. The Economic Development Team’s efforts in attracting new businesses and helping them to create job opportunities strengthen the local economy. I would like to thank our local business partners for their dedication to building on the City’s commitment to economic growth and job creation in Brampton.”  

Marlon Kallideen, Chief Administrative Officer, City of Brampton 

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About the City of Brampton 

As one of the fastest-growing cities in Canada, Brampton is home to 700,000 people and 100,000 businesses. People are at the heart of everything we do. We are energized by our diverse communities, we attract investment, and we are embarking on a journey to lead technological and environmental innovation. We partner for progress to build a healthy city that is safe, sustainable, and successful. Visit to learn more. 

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