I recently had the privilege of taking part in an economic development bus tour in Milton to see what the town has planned for the next ten to fifteen years.
I have to admit that while I thought I knew a lot about what was coming, I was pleasantly surprised to find that I didn’t know even half of what is planned.
I also have to admit that it is a very exciting time for Milton residents and Milton real estate owners. Not only is it the fastest growing municipality in the country for the third straight census but in fifteen to twenty years from now we’ll look back to this time and say “that’s when it all started”; and knowing that it is very exciting being able to watch it all unfold and be a part of it.
One of the biggest success for the future of Milton was getting the Target distribution centre which opened at the beginning of 2013 and will service 48 of the anticipated 150 Canadian locations opening over the next 4 year.
Now whether or not you like Target as a company or were disappointed when comparing to what you’ve seen in the states is irrelevant. What is relevant is what Target does for Milton as well as Halton Region….that and apparently Target Loves Canada.
To start, the new Target distribution centre brings an estimated 300-400 new jobs to Milton.
Now you might be thinking “oh great, a bunch of low paying warehouse jobs” but you’d be wrong, or at least partly wrong.
There are a good number of higher paying front office jobs and management jobs in the warehouse but the real gold is in the $3.5-4 million/year in tax revenue for the region, town and school boards; $450,000/year of that tax revenue is the towns share…which means that’s less for Milton real estate owners to have to pitch in through property taxes.
Another great bonus for the development is the $28 million received in development charges that will be distributed between the town, the Region and School Boards.
That is HUGE because not only does it give the town additional revenue to complete improvements around town and add more for its residents but it also limits our property taxes to modest increases for years to come.
It should also be noted while on this point that Milton has the lowest property tax rate in the GTA and if the town keeps attracting these types of developments (the way they plan to) we’ll remain the lowest for a long while.
It’s equally a big deal for the Region as they are responsible for all the regional roads and highways that link Milton, Oakville, Burlington, and Halton Hills.
They’re doing a lot of road improvements in and around Milton to handle the increase in population growth and to manage traffic which makes our lives way better in the long run.