City of Vaughan

Highlights

• The national Consumer Price Index rose 2.6 per cent year-over-year in February, following a 1.9 per cent increase in January.
• The national unemployment rate rose to 6.7 per cent in March, a marginal increase from 6.6 per cent in February.
• The national Real Gross Domestic Product (GDP) saw a 0.4 per cent increase in January, continuing an upward trend from a 0.3 per cent increase in December.
• The Vaughan Business and Entrepreneurship Centre experienced demand for consultations in retail trade; professional, scientific and technical services; and arts, entertainment and recreation industries in March.
• Vaughan-headquartered Toromont announced the construction of a new head office in Vaughan to replace their existing headquarters and accommodate growth.
• Vaughan-headquartered Longo’s, a retail supermarket chain with stores across Southern Ontario, announced a new Culinary Innovation Centre in Vaughan to advance food innovation.
• Urschel, a U.S.-based global leader in food cutting technology, announced its expansion in Canada and the location of its Canadian headquarters in Vaughan.

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SELECT Economic Indicators

The national consumer Price Index rose 2.6 per cent year-over-year in February, following a 1.9 per cent increase in January.

The national Consumer Price Index (CPI) rose 2.6 per cent year-over-year in February, up from a 1.9 per cent increase in January. Ontario saw a similar increase, as the province’s CPI saw a year-over-year rise from 1.7 per cent in January to 2.7 per cent in February.

The federal tax break ended on February 15, 2025, and GST and HST returned to eligible products. This contributed to upward pressure on consumer prices, as the increased prices, including taxes, were included in the CPI calculation.

While still negative in comparison year-over-year, the difference in restaurant food prices in February (-1.4 per cent) compared to January (-5.1 per cent) accelerated the all-items CPI, which may result from the end of the GST break first introduced in December. Alcoholic beverages from stores were subject to a similar trend, with a reduced year-over-year decline in February (-1.4 per cent) compared to January (-3.6 per cent).

In February, gasoline prices increased 0.6 per cent month-over-month due largely to higher refining costs. Year-over-year growth of gasoline prices slowed to 5.1 per cent, compared to January’s 8.6 per cent increase, reflecting lower crude oil prices and concerns over tariff threats.

There was an increased demand for travel tours over the President’s Day weekend in the United States, with prices rising 18.8 per cent year-over-year in February compared to an 8.3 per cent increase in January.

The national unemployment rate rose to 6.7 per cent in March, a marginal increase from 6.6 per cent in February.

The national unemployment rate rose to 6.7 per cent in March, a marginal increase from 6.6 per cent in February. Ontario’s unemployment rate similarly rose, reaching 7.5 per cent in March compared to 7.3 per cent in February. In the Toronto Census Metropolitan Area (CMA) – which includes Vaughan – the unemployment rate rose to 8.8 per cent, up 0.3 percentage points from 8.5 per cent in February.

Employment in March fell by 33,000 (-0.2 per cent), the first decrease since January 2022, while the employment rate was down 0.2 percentage points to 60.9 per cent. By province, employment fell in Ontario (-28,000; -0.3 per cent) and Alberta (-15,000; -0.6 per cent), while Saskatchewan experienced some employment growth (+6,600; +1.1 per cent).

In March, employment gains were recorded for utilities (+4,200; +2.8 per cent) and personal and repair services (+12,000; +1.5 per cent). This growth was tempered by declines in wholesale and retail trade (-29,000; -1.0 per cent) and information, culture and recreation (-20,000; -2.4 per cent).

Across the country, 1.5 million Canadians were unemployed and facing difficulties finding work this March, representing a 12.4 per cent increase year-over-year. Job loss due to lay-offs within the previous 12 months was the most significant contributor (44.1 per cent) to those unemployed, down from 47 per cent in March 2024. While construction (18.4 per cent) and wholesale or retail trade (12.4 per cent) were the sectors most impacted by lay-offs, manufacturing (9.3 per cent) saw minimal change year-over-year.

Across gender and age groups, employment fell the most among men aged 55 years and older (-21,000; -0.9 per cent), with a 0.4 percentage point drop to 38.8 per cent in March, marking a third consecutive month of decline. Over the same period, employment levels and employment rates for women aged 55 and older, core-aged women and youth were little changed.

Average hourly wages among employees were up 3.6 per cent (+1.24) to $36.05 in March, following a growth of 3.8 per cent in February (not seasonally adjusted).

The national Real Gross Domestic Product (GDP) saw a 0.4 per cent increase in January, continuing an upward trend from a 0.3 per cent increase in December.

The national Real Gross Domestic Product (GDP) saw a 0.4 per cent increase in January, continuing an upward trend following a 0.3 per cent increase in December. Both services-producing and goods-producing industries experienced growth, with 13 of the 20 sectors rising in January.

While services-producing (+0.1 per cent) and goods-producing (+1.1 per cent) industries experienced growth, goods-producing sectors contributed the most to the GDP increase, marking its most significant increase since October 2021. The development was primarily led by manufacturing and mining, quarrying, and oil and gas extraction sectors.

Canada’s manufacturing sector rebounded in January with a 0.8 per cent increase after experiencing two consecutive months of decline. As a result of a 12.2 per cent increase in iron and steel mills and ferro-alloy manufacturing, primary metal rose 4.8 per cent. This subsector led the growth in the manufacturing sector. Similarly, the transportation equipment manufacturing subsector (+2.2 per cent) played a key role in GDP growth in January. Amongst the subsectors, motor vehicle manufacturing (+4.5 per cent) also increased due to resumed production in January and higher sales of specific electric vehicle models.

Mining, quarrying, and oil and gas extraction experienced its second consecutive month of growth, with oil and gas extraction (+2.6 per cent) as the primary driver. Broadly, the increased activity was primarily due to increases in synthetic crude production in Alberta, parallel growth in natural gas extraction and exports, domestic deliveries and inventory storage of natural gas, as well as expansions in support activities for the mining and oil and gas extraction subsector (+1.0 per cent).

LOCAL TRENDS, INVESTMENTS, AND SUCCESS STORIES

In March, the Vaughan Business and Entrepreneurship Centre experienced demand for consultations in retail trade, professional, scientific, and technical services and the arts, entertainment, and recreation industries.

Economic Development’s Small Business and Entrepreneurship top five industries seeking consultations in March were:

1. Retail Trade (24 per cent)
2. Professional, scientific and technical services (16 per cent)
3. Arts, entertainment and recreation (12 per cent)
4. Manufacturing (10 per cent)
5. Education services and accommodation and food services (8 per cent)

Vaughan-headquartered Toromont announced the construction of a new head office in Vaughan to replace their existing headquarters and accommodate growth.

Toromont, headquartered in Vaughan, recently announced the construction of a new head office in Vaughan. This 190,000-square-foot facility will replace the company’s existing Concord campus to accommodate the company’s future growth and will be shared with a Toromont CAT branch. The new facility, planned for occupancy in 2027, will feature mass timber construction and incorporate energy-efficient technologies from Toromont Power Systems.

Toromont provides brand-name equipment and comprehensive product support (including parts and lifetime service) to thousands of customers in essential industries including construction, roadbuilding, mining, infrastructure, manufacturing, shipping, logistics, waste management, telecommunications, food processing and cold storage.

Vaughan’s nationally ranked industrial market, transportation assets and location make it an attractive destination for investment. As one of the largest transportation hubs in Ontario, Vaughan plays a crucial role in moving goods across North America. The city’s position and proximity to major highways, airports and rail terminals offer companies, such as Toromont, the potential to increase efficiencies and easily access local, regional, and global markets

Vaughan-headquartered Longo’s, a retail supermarket chain with stores across Southern Ontario, announced a new Culinary Innovation Centre in Vaughan to advance food innovation.

Longo’s, a Vaughan-headquartered retail supermarket chain with stores across Southern Ontario, announced a new Culinary Innovation Centre in partnership with Smeg Canada at its Support Centre in Vaughan. Planned as a space for creativity, collaboration and sustainable practices, the new Centre will feature state-of-the-art equipment for culinary innovation. This follows the recent expansion of Longo’s in Vaughan, where they opened their 41^st store in February.

Vaughan’s agri-food and processing sector benefits from being centered in a highly connected location in Ontario. Within a 20-minute drive, food innovators have access to the Ontario Food Terminal, the third largest in North America, and close proximity to the country’s largest international rail carriers, major 400-series highways and Toronto Pearson International Airport.

U.S.-based Urschel, a global leader in food cutting technology, announced its expansion in Canada and the location of its Canadian headquarters in Vaughan.

Urschel, a U.S.-based global leader in food cutting technology, announced the opening of its Canadian headquarters in Vaughan. As part of its expansion into Canada, Urschel unveiled a newly constructed facility that features a Test Cutting Facility for its customers.

Vaughan’s strengths as an advanced manufacturing hub translate to a destination of choice for food processing, with nearly half of York Region’s food processors located in Vaughan. Urschel is in good company, with leaders in the agri-food and food processing industry calling Vaughan home, including Voilà by Sobeys’ Customer Fulfilment Centre, Arla Foods, Concord Confectionery, Saputo Dairy Products, Costco Distribution Center, Longo Brothers Fruit Market Inc., and more.