Business and innovation | April 5, 2023
The City of Mississauga is seeking input on an incentive program that will help transform a former industrial area along the waterfront into a 20-acre innovation campus. The Lakeview Innovation District, part of the 177-acre Lakeview Village development, will become an employment hub where people can research, test and develop solutions in state-of-the-art offices, flex-offices and lab spaces.
The City is currently working on developing a Community Improvement Plan (CIP) to help bring the Innovation District to life. It could include incentives to encourage uses such as:
Public and industry input is required to help define the types of incentives – both financial and non-financial – to help attract these uses.
“Waterfront redevelopments like Lakeview provide a unique, generational opportunity to foster innovation and spur economic growth and leading-edge technology,” said Christina Kakaflikas, Director, Mississauga Economic Development Office. “Mississauga is the second-largest employment hub in the Greater Toronto Area and the second-largest economy in Ontario. The Lakeview Innovation District will solidify our position as a major economic hub by creating thousands of highly skilled jobs in the key sectors we’re invested in growing on our waterfront.”
The City has launched a survey to take input on possible incentives including:
The survey, which runs through April 21, is also seeking feedback and ideas on any other types of incentives that would help to spur interest in the area.
The Lakeview Innovation District is poised to become a world-renowned centre for innovation and new business. It will connect researchers, entrepreneurs, office and lab workers to local and regional transit, parks and trails, residential, retail and cultural space including year-round arts and recreational programming.
“Input from industry and the business community is key to the realization of the Lakeview Innovation District,” Kakaflikas added. “The City is committed to their success and will proactively listen to their ideas and work to meet their needs as we continue to plan our exciting new waterfront ecosystem.”
Once the survey has closed, staff will consider all feedback received and bring a report to the City’s Planning and Development Committee later this spring. The report will outline recommendations for the CIP, including financial tools and eligibility requirements.
To learn more about the Lakeview Innovation District and take the survey, visit https://yoursay.mississauga.ca/lakeview-innovation-district
The Lakeview Innovation District is part of IDEA – the Mississauga Innovation District. IDEA is Mississauga’s collaborative lead for Entrepreneurship & Innovation. A distinctive community that supports and connects local and globally minded entrepreneurs and businesses, generating international recognition for the City.
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