Turning Meadowvale into an economic powerhouse once again. We attracted many innovative companies to Mississauga before and we can do it again.
Meadowvale transformed from a collection of farmlands into a corporate and industrial powerhouse starting in the mid twentieth century. This sleepy bedroom community was able to lure major corporate headquarters and life sciences away from globally known cities.
Mayor Hazel McCallion led the charge with tax programs, innovative marketing, infrastructure funding and progressive zoning.
Meadowvale used the concept of pre-zoned parcels, allowing for the creation of sector-specific specialty hubs.
In the 1980s logistical connectivity paid dividends with an expanded Highway 401 and the overloaded Pearson Airport providing industrial traffic.
Meadowvale became the anchor for pharmaceuticals, creating the specialty hub known as “Pill Hill.”
The City deployed policy mechanisms such as:
- Leveraging its debt-free status and offering significantly lower industrial property tax rates than surrounding cities
- Establishing as-of-right zoning permissions on vacant lands which made it enticing to build quickly
- Promoted federal research tax credits combined benefits with provincial innovative tax credits effectively
- Offering Tax Increment Equivalent Grants to increase office density throughout the city and
- Shifted all new infrastructure capital costs to real estate developers via development charges, accumulating $700 million in debt-free municipal reserves.
The City of Mississauga was able to grow proprietary intellectual property through the partnerships between industry and academic institutions. Graduates stayed in Meadowvale to start their families, growing up in brand new homes and schools.
In addition, specialty industries became cemented in the community. Meadowvale became home to 75 Fortune 500 companies in technology, computing and electronics; logistics, transit and manufacturing; consumer goods, food and retail; finance and business services
Meadowvale became the anchor for pharmaceuticals, creating the specialty hub known as “Pill Hill.” Companies such as GlaxoSmithKiline located here, cementing this neighbourhood name.
Again, local educational institutions fed teams of education employees to the 400 related bio firms in the Meadowvale industrial neighbourhood. Capital expenditures by the University of Toronto in Applied Biosciences and Biotechnology accelerated world-renowned drug discoveries.
This was a meticulously planned and executed blueprint in a time of limited technological advancement. Government relied on practical intuitive skills to make sound growth decisions based on real world experience.
By combining visionary urban master-planning, aggressive pre-zoning, and academic synergy, Meadowvale was able to benefit by luring a staggering concentration of Fortune 500 and life sciences.
We now face some of the same growth challenges we did back when these innovations first came to be in Meadowvale. It is time to highlight the benefits of locating business from far and wide to our community and ensure that we are competitive with other cities in making this happen.
Now more than ever we need this focus to grow our business community.
Paul Micucci is a Meadowvale business owner and the founder of the Meadowvale Business Association.
