Panattoni and Magna Win 2023 Deal of The Year Award

January 17, 2024

Panattoni Development Company, Inc. and Magna International have been awarded the Business Facilities Magazine 2023 Deal of The Year Impact Award for their collaboration at 100 Ace Drive in Brampton.  

Magna’s 8th facility in Brampton is in a 490,000 sq. ft.  state-of-the art building by Panattoni Developments. This investment by Magna, is bringing 560 new advanced manufacturing jobs to Brampton. 

The City’s Economic Development team has worked tirelessly to offer a concierge service to remove red tape and expedite this investment, promoting it with site selectors and investors on a national and international scale. 

Magna International will be manufacturing battery trays for electric vehicles at the site, bolstering the city’s world-class innovation and advanced manufacturing sectors. This builds on the City of Brampton’s ongoing support of our well-established automotive and parts manufacturing sector, including the Stellantis assembly plant, which will begin retooling and modernizing toward the company’s electric vehicle future at the end of 2024. 

Amongst 50 submissions in the Investment Category for all of Canada, this award celebrates the commitment of Panattoni Development Company and Magna International to economic development, innovation, and community prosperity.  

Click here to view Impact Awards cover story on Business Facilities January/February 2024 issue.

As we look to the future, we are excited about the continued partnership with both companies growing in Brampton. In conclusion, our commitment to supporting the success of businesses in Brampton remains unwavering. Stay connected with us on LinkedIn and subscribe to our newsletter for the latest updates, as we continue our efforts in helping businesses thrive in Brampton.