What do you think about when you notice cranes and construction in our communities? I see a city looking to the future and I think about the jobs, wages and investment that the home building, land development and professional renovation industry will contribute to the GTA’s economy.
Many different types of professionals find high-quality jobs in our industry. Long before construction starts, urban planners, land surveyors, architects and engineers begin the process of developing a new condo or townhouse community. Carpenters, masons, drywallers and electricians carry out the onsite work while graphic designers, marketers and salespeople bring the new home or community to the attention of potential buyers.
This process of bringing new homes to market provided 120,276 jobs in the GTA last year, both onsite and offsite, according to estimates prepared for the Canadian Home Builders’ Association, based on data from Statistics Canada and the Canadian Mortgage and Housing Corporation. That was 3.8 per cent more than the 115,844 jobs new home construction provided in 2016.
The professionals and tradespeople holding these jobs in new home construction earned $7.1 billion in wages last year, which was 4.4 per cent more than the $6.8 billion earned in 2016. In addition to generating billions in tax revenues, these earnings were used to purchase goods like groceries, clothes and cars, supporting growth in other industries and contributing to the economic success of our region.