Government of Canada Supports Economic Development in Markham

MARKHAM, ON – July 29, 2026 – From August 14 to 16, the Ontario Dealers Indy brings one of North America’s premier motorsport experiences to Markham for the first time. The three-day festival will spotlight what Markham has to offer, with economic ripple effects for businesses, hotels and restaurants in the Greater Toronto Area over the next five years.

Today, the Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), announced an investment for the City of Markham to strengthen and expand economic development activities to maximize the economic opportunities associated with hosting the Ontario Honda Dealers Indy at Markham over the next five years. The Minister was joined by the Honourable Tim Hodgson, Minister of Energy and Natural Resources and Member of Parliament for Markham-Thornhill; the Honourable Helena Jaczek, Member of Parliament for Markham-Stouffville; and Michael Ma, Member of Parliament for Markham-Unionville.

The City of Markham, with $3.5 million in FedDev Ontario support, is undertaking a project to complete key infrastructure upgrades and readiness initiatives required to enhance and sustain the region’s capacity to host major international events. Planned improvements include upgrades to municipal road, track and transportation infrastructure and event facility enhancements.

The Government of Canada is making strategic investments to help businesses thrive and drive economic growth in communities from coast to coast to coast.

Quotes:

“The Ontario Honda Dealers Indy is a unique opportunity for Markham, York Region and Canada. Through this investment, we are helping the City of Markham ensure it has the infrastructure and capacity needed to deliver world-class events and attract visitation and investment in the years to come. This project will help drive investment and job creation, generating long-term economic benefits for the businesses, workers and sectors across the region.”
- The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario

“This investment reinforces Markham’s reputation as a hub for innovation and world-class events, while also driving economic growth in our city.”
- The Honourable Tim Hodgson, Minister of Energy and Natural Resources and Member of Parliament for Markham-Thornhill

“Investing in Markham’s ability to host events like the Ontario Honda Dealers Indy will generate meaningful economic activity for the community. These improvements will make it easier for residents and visitors alike to access venues, while supporting local tourism and long-term growth.”
- The Honourable Helena Jaczek, Member of Parliament for Markham-Stouffville

“Markham is a vibrant and growing community with the capacity to host major international events. This investment will help enhance local infrastructure and support initiatives that bring visitors to our city, benefiting businesses, creating jobs, and showcasing Markham as a destination of choice.”
- Michael Ma, Member of Parliament for Markham-Unionville

“A race is never just a race, it is an economic engine. When 150,000 people come to your city and the world is watching in more than 200 countries, that fuels economic development. This investment drives growth, builds infrastructure, develops skilled talent, and sends a clear message: Markham is open for business, and Canada is open for investment. We thank the Government of Canada for backing a city that dares to be bold and delivers results.”
- His Worship, Frank Scarpitti, Mayor of the City of Markham

Quick Facts

• The City of Markham is a rapidly expanding urban centre in York Region, with a population exceeding 370,000, making it both the largest municipality in the region and the fourth largest community in the Greater Toronto Area.
• The Ontario Honda Dealers Indy is a world-class, three-day motorsports festival, which attracts about 150,000 visitors, generating significant economic activity by supporting tourism, hospitality, accommodations and other local businesses across Markham and the Greater Toronto Area.
• Announced in September 2025, a new partnership between The City of Markham, Green Savoree Toronto ULC, and IndyCar, Ontario Honda Dealers Indy will bring the iconic race to Markham Centre for the next five years, starting in August 2026.

Associated Links

• FedDev Ontario
• City of Markham
• Ontario Honda Dealers Indy

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Markham Mayor Frank Scarpitti's Office: mayorscarpitti@markham.ca

All other media inquiries / interview requests for the City of Markham: media@markham.ca

About Markham: Markham, an award-winning municipality with over 370,000 residents and the largest of nine communities in York Region, is home to over 650 corporate head offices and more than 1,500 high tech and life science companies. Markham is a leader in attracting foreign direct investment with more than 234 foreign companies located in the City. Founded in the 1790s, today Markham is Canada’s most diverse community and enjoys a rich heritage, outstanding community planning and services, and a vibrant local economy. 

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