Mississauga named one of Canada’s best locations to invest in

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Published August 31, 2023 at 3:09 pm

IDEA Innovation Hub in Mississauga’s Square One helps entrepreneurs and startups grow their business

In a ranking of best places to start a business and invest, Mississauga is in the top 20 in Canada.

The international business publication, Site Selection Magazine, came out with their list of  best locations in Canada to invest and Mississauga is among the top cities named in Ontario.

In fact, the magazine ranks Ontario as the top province overall to invest in, mentioning a Mississauga expansion at AstraZeneca as one of the key factors. Alberta and Nova Scotia were second and third.

AstraZeneca Canada’s $500 million announcement in February of a “major expansion of its research footprint in Canada” will bring 300 jobs to the Mississauga-based company.

The expansion comes in the company’s Research and Development Hub operations, which focuses on leading global clinical studies in areas including breast, lung and prostate cancer, COVID-19 and chronic kidney disease.

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And this year, aerospace firm Cyclone Manufacturing announced a major expansion to become more productive and competitive. A $9 million funding boost from the Canadian government will help expand operations in both Milton and Mississauga.

Mother Parker’s Tea & Coffee announced a large expansion in Mississauga this year.

Site Selection Magazine also mentioned projects at food industry company Omcan, and Vitacore Industries.

Another big project this year was IDEA Innovation Hub, a project in partnership with Oxford Realty Properties, that opened in Square One in May 2023.

As part of the city’s Economic Development Office, the IDEA Team provides information and services to help businesses grow in Mississauga and beyond.

And the city’s Economic Development Office’s international outreach has included Farnborough International Airshow, the MedTech Conference in California, Cybertech Global Tel Aviv 2023 and a delegation to Germany to meet some of the more than 120 German companies that have called Mississauga home.

Site Selection Magazine also notes incentives with the Region of Peel and Mississauga’s Tax Increment Equivalent Grant making it more cost-effective to build office space downtown.

For the full list of Canada’s Best Locations in Site Selection Magazine, visit here.

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