City of Vaughan

HIGHLIGHTS

 

• The national Consumer Price Index rose 2.8 per cent year-over-year in April, following a 2.4 per cent increase in March.
• The national unemployment rate increased by 0.2 percentage points to 6.9 per cent in April, while the employment rate fell 0.1 percentage points to 60.5 per cent.
• National Real Gross Domestic Product contracted 0.1 per cent in March, offsetting a portion of February’s 0.2 per cent growth.
• In April, the Vaughan Business and Entrepreneurship Centre experienced demand for consulting in retail trade, professional scientific and technical services, other services, construction, and health care and social assistance.
• Vaughan Economic Development convened a group of 15 Vaughan-based companies to visit Mitsubishi Heavy Industries Canada Aerospace (MHICA) and explore the possibility of becoming suppliers.
• Toro Aluminum Group purchased a 471,000 square foot facility in Concord.
• Toronto Lighting Supply opened a new location in Vaughan.
• Vaughan businesses celebrated and recognized at the 2026 Vaughan Chamber of Commerce Business Achievement Awards.

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SELECT ECONOMIC INDICATORS

The national Consumer Price Index rose 2.8 per cent year-over-year in April, following a 2.4 per cent increase in March.

The Consumer Price Index rose 2.8 per cent on a year-over-year basis in April, following a 2.4 per cent increase in March. In Ontario, the Consumer Price Index rose 2.4 per cent year-over-year in April, up by a 0.5 per cent increase from March. The Consumer Price Index increased in April at a faster pace than in March in nine of Canada’s ten provinces.

Energy prices rose 19.2 per cent year-over-year in April, following a 3.9 per cent increase in March. When looking at gasoline specifically, prices rose sharply by 28.6 per cent in April, after a 5.9 per cent gain in March. Prices for fuel oil and other fuels increased 41.3 per cent year-over-year in April, amid higher oil prices linked to the conflict in the Middle East.

 

The national unemployment rate increased by 0.2 percentage points to 6.9 per cent in April, while the employment rate fell 0.1 percentage points to 60.5 per cent.

The unemployment rate increased 0.2 percentage points to 6.9 per cent, while the employment rate fell 0.1 percentage points to 60.5 per cent. Employment fell by 18,000 jobs (-0.1 per cent) in April. Full-time employment fell by 47,000 (-0.3 per cent), while part-time employment edged up (+29,000; +0.8 per cent). The net overall decline in employment over the first four months of 2026 was concentrated in full-time work, which fell by 111,000 (-0.6 per cent) over the period.

Employment changed little across major age groups in April. However, the unemployment rate increased among youth aged 15 to 24 (+0.5 percentage points to 14.3 per cent) and among core-aged men aged 25 to 54 (+0.3 percentage points to 6.1 per cent). Employment increased in Ontario by 0.5 per cent (+42,000 jobs).

Nationally, average hourly wages among employees were up 4.5 per cent (+$1.64 to $37.77) on a year-over-year basis in April, following growth of 4.7 per cent in March.

 

National Real Gross Domestic Product contracted 0.1 per cent in March, offsetting a portion of February’s 0.2 per cent growth.

Real gross domestic product (GDP) decreased 0.1 per cent in March, partially offsetting a 0.2 per cent increase in February. The decrease was driven by contractions in goods-producing industries (-0.8 per cent); this was the fifth decline in the last six months for these industries. Overall, eight of the 20 industrial sectors contracted in March.

The construction sector declined nationally by 0.6 per cent in March following a sharp decline in February (-1.5 per cent). Engineering and other construction activities (-0.9 per cent) and residential building construction activity (-0.8 per cent) contributed the most to the decline in the construction sector in March. Construction activity in most residential building types fell in the month, with alteration and improvement activities and construction of single-occupancy and apartment-type buildings contributing the most to the decline.

Services-producing industries withstood the decline, edging up 0.1 per cent in March, led by an increase in wholesale trade, one of Vaughan’s key sectors. Following a 1.4 per cent expansion in February, the wholesale trade sector rose 1.8 per cent in March as most activities expanded in the month; this marked the sector’s largest single-month growth since May 2023.

Gross domestic product by industry edged up 0.1 per cent in the first quarter of 2026, as increases in services-producing industries (+0.3 per cent) more than offset declines in goods-producing industries (-0.4 per cent). This follows a decline of 0.1 per cent in the fourth quarter of 2025.

 

LOCAL TRENDS, INVESTMENTS, AND SUCCESS STORIES

 

In April, the Vaughan Business and Entrepreneurship Centre experienced demand for consulting in retail trade, professional scientific and technical services, other services, construction, and health care and social assistance.

In April, the top five industries seeking small business or entrepreneurship consultations were:

1. Retail Trade (26 per cent)
2. Professional Scientific and Technical Services (16 per cent)
3. Other Services (Excluding Public Administration) (16 per cent)
4. Construction (7 per cent)
5. Health Care & Social Assistance (6 per cent)

*Other services include repair centers for motor vehicles, pet care services, funeral, laundry, photo finishing, etc.

 

Vaughan Economic Development convened a group of 15 Vaughan-based companies to visit Mitsubishi Heavy Industries Canada Aerospace (MHICA) and explore the possibility of becoming suppliers.

In early April, the City of Vaughan, in partnership with York Region, convened a group of 15 Vaughan-based companies that could be potential suppliers within the aerospace and defence sector to visit Mitsubishi Heavy Industries Canada Aerospace (MHICA) and explore the possibility of becoming suppliers. Mitsubishi Heavy Industries has committed to follow up with each participating company and visit their locations to assess technical capabilities and fit against their requirements. This is a critical step in providing Vaughan companies with access to Mitsubishi Heavy Industries’ qualified supplier process and network. The visit established a direct working relationship between participating manufacturers in Vaughan and a global Tier 1 prime contractor, a relationship that individual companies cannot initiate on their own and that is necessary for their integration into the broader supply chain.

 

Toro Aluminum Group purchased a 471,000 square foot facility in Concord.

The former head office of Toys “R” Us Canada was recently purchased by Franline Investments Inc., the parent company of Toro Aluminum Group. The 471,051-square-foot facility at 2777 Langstaff Road is planned to be the site of Toro Aluminum Group’s consolidation of four smaller facilities into one location. According to CoStar, the property sold for $134.7 million.

 

Toronto Lighting Supply opened a new location in Vaughan.

Toronto Lighting Supply opened a new location in April, marking their second facility and the only location outside of Toronto. Supporting Vaughan’s strong construction sector, this location provides a range of lighting displays, control solutions, and contractor-focused inventory for residential and commercial projects. This location aims to meet the ongoing demand for construction materials in York Region and across the Greater Toronto Area.

 

Vaughan businesses celebrated and recognized at the 2026 Vaughan Chamber of Commerce Business Achievement Awards.

The Vaughan Chamber of Commerce recently held its annual Business Achievement Awards. The Vaughan Chamber of Commerce works to promote and advocate for Vaughan’s business community and is a strong partner to Vaughan Economic Development. Events such as the Business Achievement Awards highlight the accomplishments and resilience of local Vaughan businesses. Notable recipients include Identita Inc. in the innovation and sustainability category and Vision Profile Extrusions Limited in the manufacturing category.