LOWEST BUSINESS COSTS IN THE G7
KPMG’s “Competitive Alternative” shows that Canada has attractive overall business costs, especially when compared to costs in the United States of America.
The Region’s emergence as an export-driven economy owes itself to efficient access to large scale road, rail, and air transportation systems, including ready access to Canada’s most important road transportation corridor (Highway 401) and three major Canadian-United States border crossings: Niagara; Windsor/Detroit; and Sarnia/Port Huron.
- Reach 2.7 million people, all within a 45-minute drive of the Waterloo Region.
- 5.1 million people (Toronto census metropolitan area) within a one-hour drive.
- Located in the heart of Canada’s most populous province.
NORTH AMERICAN MARKET
- Toronto’s Pearson International Airport and the Region of Waterloo’s International Airport opens up significant exposure to the North American market, often within just a two-hour flight.
- 60% of that market is within the United States.
- Reach a market of 130 million people within a day’s drive.
- More than 70 airlines serve Toronto’s Pearson International Airport (45 minutes southeast), including direct flights to 106 international destinations. The airport has extensive cargo facilities.
- The Welland Canal (southwestern Ontario), as part of the St. Lawrence Seaway, offers direct shipping access into the midwest U.S. and the Atlantic Ocean.
- Access to national railroads.
A RECOGNIZED ADVANCED TECHNOLOGY CLUSTER
The Waterloo Region is a globally recognized advanced technology cluster while also having one of the highest concentrations of manufacturing activity among Canada’s metropolitan areas. Additionally, the Region is home to one of Canada’s largest insurance industry clusters. The business base is diverse, ranging from large multinational to countless small start-up companies on the leading edge of innovation. Leading economic sectors are; Automotive, Technology, Advanced Manufacturing and Business Services.
A PRODUCTIVE AND PROSPEROUS COMMUNITY
The Waterloo Region is one of Canada’s fastest growing communities, expected to reach 729,000 people by 2031. The growth rate of the Region is nearly twice the Canadian average. The median population age is one of the lowest in Canada. In 2011, the Waterloo Region’s Gross Domestic Product (GDP) was worth $20.2 billion.
HIGHLY SKILLED WORKFORCE
The Waterloo Region is built on a foundation of entrepreneurship and innovation. The success of the Region has created a deep pool of talent that ensures continual inflow of educated and ambitious people. The labour resource is +290,000 people within the Waterloo Region, and +2.7 million people within a 45 minute drive.
CANADIAN INVESTMENT ENVIRONMENT
Canada’s excellent economic fundamentals and political stability provide a first-rate, low-risk business environment. We are in a strong fiscal position, with our Canadian banking system being the soundest in the G7. We are proud to be the best country in the world to do business (Consider Canada).