The residential construction industry is a major economic engine in the regional, provincial and federal economy, and is an essential part of the economic strength and prosperity of the GTA. Here’s why:
Each new condominium project creates up to 500 jobs for GTA residents working in construction and related fields. According to the Canadian Home Builders’ Association, the residential construction industry in the GTA created more than 177,500 new jobs just last year, making it one of the largest employers in the region.
These jobs include bricklayers, plumbers and electricians, as well as architects, planners and lawyers.
Next time you find yourself in a waiting room or on a train, take a look around you. It is quite likely that at least one of the people sitting beside you or across from you is employed by the building and development industry.
These are quality, well-paying jobs that in 2013 produced approximately $9.7 billion in wages. These wages later show up as purchases of food, clothing and others goods, which means they are pumped right back into the local economy, supporting other industries and businesses.
Next time you see a construction crane on your way to work, don’t look at it as just a home for 200 families. Think of it as a source of employment for thousands of GTA residents who build our cities and drive our economy.
To celebrate the economic impact of new condominiums, BILD asked our friends at the Toronto Star to put together a short 15-second video. We’d love it if you give it a thumbs up, tweet it out, Facebook it and share across your social network to help spread awareness about the benefits of new development.