Niagara lands coveted spot on list of best places for business
Niagara has been recognized as one of the best locations for business in Canada. The region joins 19 other Canadian municipalities on the list compiled by Site Selection magazine, a planning and economic development publication based in Atlanta, Georgia.
The top locations were selected based on project data, partnerships, proactive and innovative programming, and quality data and Web tools and resources.
A recent KMPG cost competitiveness study showed that Niagara’s business cost index was lower than all 76 American jurisdictions in the study, and 2nd best among all U.S. and Canadian Northeast centers. Niagara boasts affordable land, utilities and taxes, collaborative labour relations, low healthcare costs and a highly efficient logistics infrastructure. In addition to lower operating costs, Niagara is also able to help companies locate or expand in the region through unique and aggressive development grant and incentive programs not found anywhere else in Canada.
"I am pleased to see Niagara Region recognized for its hard work in making Niagara a place to invest and do business. Regional Council is committed to continuing our efforts to enhance Niagara’s global attractiveness and to create an environment in which businesses can grow, thrive and create jobs. With economic prosperity our clear goal and focus, our Council’s results are reflected through recognition as a top location for economic development in Canada. " ~ Alan Caslin, Regional Chair
Niagara is also strategically located in the centre of Canada’s industrial heartland and the U.S. urban northeast. The region’s proximity to the Canada/US boarder and designation as Ontario’s first Foreign Trade Zone Point adds to its competitive advantage for international business.
Niagara’s attractiveness as a place to invest was highlighted in 2016 when GE announced a $345 million investment in Welland to build an advanced manufacturing facility. Niagara’s growing economy has also seen substantial growth in housing starts and increasing home prices and sales. As well, Niagara experienced a population growth of 3.83 per cent between 2011 and 2016.
Other significant investments in Niagara during the past five years include:
- Niagara Health Systems Hospital and Walker Family Cancer Centre - $1.3B
- Ivanhoe Cambridge Outlet Mall - $178M
- Cytec Industries Manufacturing Facility – $175M
- Cairns Family Health & Bioscience Research Complex (Brock University) – $111M
- Meridian Centre (Arena) – $50M
- Brock University Marilyn I. Walker School of Fine and Performing Arts – $42M
- First Ontario Performing Arts Centre – $62M
- General Motors Manufacturing Facility Expansion and Improvements – $150M (in process)
For more information about the Site Selection list of best locations for business visit Site Selection.