DUKE Heights Economic Development Study
Working in partnership with Toronto’s only industrial BIA, IBI Group was tasked with delivering an economic development study identifying new employment opportunities and future growth areas for the DUKE Heights Business Improvement Area (DHBIA).
ClientDUKE Heights BIA
Planning for an ambitious future
As a result of Toronto’s unprecedented economic growth and the extension of the Spadina Subway line through the area, the DUKE Heights BIA sought to prepare a thorough analysis and strategy for what comes next. Working with stakeholders and the City of Toronto’s Economic Development and Culture Division, IBI Group completed a comprehensive SWOT analysis reviewing the BIA’s built, policy, employment and market environments to distinguish their strongest opportunities and potential shortfalls.
Our Location Quotient and Cluster analysis informed potential target industries and established the area’s competitive advantages. These findings were further supported by data gleaned from the City of Toronto’s Employment Survey and larger employment trends occurring throughout the region.
The study included six case studies examining Innovation Districts in Toronto, the United States, and international standouts. As part of this process, we reviewed institutional partnerships, industry marketing, and financial incentives with the greatest potential to spur development. These findings were delivered through a detailed report highlighting key success indicators and implementation policies. IBI Group recommended fifteen economic development policies for adoption that will foster development in specific industries while utilizing the area’s strategic location and future government infrastructure investments.
Since delivery of the report, the BIA has completed a rebranding and outreach program to bring new tenants and targeted industries to the area. An employment accelerator, in partnership with neighbouring York University, has opened, in order to provide space, training and support for all types of businesses.