The number of businesses in the surveyed areas increased 28.3% over five years, or 5.7% on an average annual basis. At year-end 2003, there were an estimated 676 firms.
Business Mobility
Since 1998, business mobility in Whitchurch-Stouffville has averaged 6.4% annually, slightly below the Regional average of 7.8%. Of those firms that closed or moved, most were in the following sectors: retail trade (26.0%), personal services (23.7%), and manufacturing (11.2%). In total, an estimated 169 firms either closed or relocated outside of the study area, resulting in a loss of 894 jobs. Despite these losses, the expansion and/or addition of new businesses resulted in a net gain of 149 firms and 2 495 jobs even after taking the previously mentioned losses into account. Business services accounted for 14.8% of all new firms, while the personal services and wholesale trade sectors represented 14.1% and 13.3% of business growth.
Business By Size
While small firms comprise the majority of businesses in Whitchurch-Stouffville, there is evidence of a growing number of medium and large firms in the area. Between 1998 and 2003, the number of small firms increased 26.5% to comprise 85.4% of all businesses, while medium and large firms increased 31.3% and 13.3% and 114.3% from 1998 levels.
While the sample size in the survey area is relatively small, the increasing number of larger businesses is indicative of the growing attraction of Whitchurch-Stouffville as a business destination.
Major Employers
Major employers in Whitchurch-Stouffville include:
- Noma Cable Tech Company Ltd.;
- Town of Whitchurch-Stouffville;
- A&P;
- Novopharm Ltd.; and
- Golf courses (e.g., Gormley Green, Rolling Hills, Spring Lakes, Maples of Ballantrae, Ballantrae Golf & Country Club, St. Andrews East Golf & Country Club, Timber Creek, Sleepy Hollow, Meadowbrook and Station Creek).
Development Activity
The value of non-residential building permits issued in Whitchurch-Stouffville dropped 45.1% in 2003 over 2002 levels. As of year-end 2003, approximately $12.2 million worth of non-residential permits were issued, compared to $22.1 million a year earlier. Despite a 77.1% increase in the value of institutional permits issued in Whitchurch-Stouffville in 2003, declines of 74.0% and 57.2% in industrial and commercial permits resulted in an overall drop in non-residential permits.
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