Ottawa Business Journal - BOMA Magazine - - President’s Message -

It is again our plea­sure that we present to the in­dus­try and to the com­mu­nity our an­nual Com­mer­cial Space Di­rec­tory, in col­lab­o­ra­tion with the Ottawa Busi­ness Jour­nal.

The Di­rec­tory is a snap­shot of many of the prop­er­ties in Ottawa avail­able for com­mer­cial lease, and we hope you find the ar­ti­cles within the Di­rec­tory in­ter­est­ing. Our theme this year is about how the Com­mer­cial Real Es­tate In­dus­try im­pacts the lo­cal Econ­omy. The ar­ti­cles try to give the reader a sense of the eco­nomic mag­ni­tude and scope that our in­dus­try plays in Ottawa.

To­gether with Deloitte, we looked at the many ar­eas which the In­dus­try has an im­pact. The study found that in 2011 alone the com­mer­cial real es­tate in­dus­try gen­er­ated an es­ti­mated $2.8 bil­lion in to­tal eco­nomic out­put im­pacts from spend­ing ac­tiv­ity. In ad­di­tion our in­dus­try em­ploys over 17,000 peo­ple in var­i­ous ca­pac­i­ties in­clud­ing bro­kers, lawyers, clean­ers etc. and th­ese em­ploy­ees gen­er­ate in­come of over $880 mil­lion for the lo­cal econ­omy.

Most sig­nif­i­cantly mu­nic­i­pal rev­enue from de­vel­op­ment charges and prop­erty taxes of ap­prox­i­mately $611 mil­lion was gen­er­ated in 2011 which rep­re­sents a sig­nif­i­cant por­tion of the lo­cal mu­nic­i­pal­ity’s rev­enue for op­er­a­tions.

It is ev­i­dent that the City of Ottawa’s com­mer­cial real es­tate in­dus­try supports and ac­com­mo­dates Ottawa’s size­able com­mer­cial em­ploy­ment base, while gen­er­at­ing ex­ten­sive di­rect and in­di­rect eco­nomic im­pacts to the Ottawa and broader pro­vin­cial econ­omy.

We hope you find the Di­rec­tory use­ful and in­ter­est­ing. Pierre Azzi Pres­i­dent, BOMA Ottawa

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