Hello real estate investors in Hamilton, Ontario!
Two really positive stories to come out of Hamilton today! First, The city’s downtown core is adding jobs and residents — a total of 2,700 since 2001. More than 1,600 businesses now employ 23,400 people, making average salaries well above the city and provincial averages. Second, ArcelorMittal will invest $253 MILLION at Dofasco creating 600 construction jobs (Is it just me or does anyone else notice there will be wack of construction jobs in Hamilton for the next few years…).
- more downtown people work in creative sectors such as design, music, digital media and the arts than in education and manufacturing combined. Another sign of Hamilton’s economy transitioning from manufacturing based to knowledge based.
- Over 3/4 of downtown jobs are full-time with an average salary of $54,000, well above the city ($39,500) and provincial averages ($37,700) (2006 data)
- The city’s goal is to add another 12,000 living or working downtown over the next 20 years
- Light rail transit could be the trigger the rejuvenation of downtown and attract those people to the downtown
More about Dofasco: click here and here’s my summary and analysis
- 600 construction jobs, need I say more?
- Total investment, almost 300 million = 253 from ArcelorMittal + 43.6 from the province
- The investment is to improve production and energy efficiency and reduce emissions
Hope that helps! Till Next Time – Happy investing everyone!
Real Estate Investment Adviser
PS: If you would like to learn more about investing in real estate in Hamilton please feel free to call 289-288-5019 or email me erwin (at) mrhamilton.ca.
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