Canada’s Best Places for Business 2016

Bathurst, N.B.

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Population: 32,556
Annualized population growth (%) -0.56
Avg. household income ($): 67,458
Total value of building permits issued, most recent year ($): 24,900,000
Avg. office lease rate ($ psf/yr): 13.77
Corporate income tax rate (%): 29.0
City website: www.bathurst.ca

Market

Pop. within 1 hr commuting distance: 28,032
Adults who have completed apprenticeship, trades certificate or diploma (%): 14.35
Adults who have completed university degree (%): 12.18
Adults who have completed bachelor''s degree (%): 68.74
Unemployment rate, most recent month (%): 11.44

Costs

Avg. home price ($): 107,521
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 13.77
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): N/A
Peak electricity cost for mid-size industrial business ($/kWh): N/A

Taxes & Regulation

Business license cost ($): No fee
Avg. processing time for building permit, most recent calendar year: Less than 2 weeks
Non-residential property tax rate (% of assessed value): 4.848500
Commercial property tax rate (% of assessed value): N/A
Industrial property tax rate (% of assessed value): N/A
Small business income tax rate, if different (%): 14.0
Sales tax (%): 15
Special regulations or zoning: Bathurst has a few sites zoned for heavy industrial, like the paper mill

Other

Largest employers: Bathurst Service Canada Building; Chaleur Regional Hospital; and Community College of New Brunswick
Leading industries: Service; Education; Health Care; Government
Value of capital projects >$5 million planned or under construction ($ million): 1,900,000
Special amenities: N/A
Special economic development initiatives: Bathurst hosts the Innovation Centre, a business incubator run in collaboration with the Greater Bathurst Chamber of Commerce and business accelerator The Hive