By the numbers: Pearson Economic Zone
Look beyond Toronto Pearson’s airfield and you’ll see a vast swath of commercial and industrial lands. This area, called the Pearson Economic Zone (PEZ), is a landscape of offices, logistics centres, assembly plants and small businesses. Anchored by the airport and its flights to 70 percent of the world’s economies, the PEZ is one of Canada’s most vibrant economic areas.
“The Pearson Economic Zone is vital to our prosperity,” says Brendan Sweeney, managing director of the Trillium Network for Advanced Manufacturing. Trillium is among a trio of organizations that recently studied the impact of the airport and PEZ on the Canadian economy. The short answer: It’s enormous.
Here are the key stats you need to know about the PEZ.
200 square kilometres
The PEZ is big. It spans five municipalities (Mississauga, Brampton, Caledon, Toronto and Vaughan) and an area of 200 square kilometres.
18,000 companies
It’s a hive of activity. Ten percent of Ontario’s companies are located in the zone – 18,000 in total, including one of the largest concentrations of manufacturing firms in North America. They make everything from snack foods and packaging to aircraft engine parts and space robotics.
500,000 jobs
Half a million people work in the PEZ, making it one of Canada’s top employment regions. Businesses in the zone have added 100,000 jobs since 2016, despite the pandemic – a significant growth spurt.
$70.6 billion in GDP
The PEZ is an economic powerhouse. Its businesses generate $70.6 billion for the economy every year. That’s around 7 percent of Ontario’s GDP. The airport itself is responsible for about $19.6 billion of that.
1 PEZ
The PEZ has a rare set of advantages. It’s part of Canada’s largest urban area and a dynamic regional economy. It draws on southern Ontario’s industrial heritage and it is tapped into Toronto’s burgeoning tech and innovation ecosystems. It has access to deep talent pools. And it has excellent links to markets by plane, train and automobile through Pearson, the rail network and several 400-series highways. All that adds up to make the PEZ a unique asset for Canada.
Want to dive deep into the PEZ?
Find more facts, stats and in-depth info at EconomicRunway.ca.
