Canada’s Best Places for Business 2016

Burlington, Ont.

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Population: 192,294
Annualized population growth (%) 1.23
Avg. household income ($): 111,527
Total value of building permits issued, most recent year ($): 538,755,230
Avg. office lease rate ($ psf/yr): 25.07
Corporate income tax rate (%): 26.5
City website: www.burlington.ca

Market

Pop. within 1 hr commuting distance: 7,386,932
Adults who have completed apprenticeship, trades certificate or diploma (%): 5.94
Adults who have completed university degree (%): 30.00
Adults who have completed bachelor''s degree (%): 64.93
Unemployment rate, most recent month (%): 4.90

Costs

Avg. home price ($): 587,644
Avg. retail lease rate ($ psf/yr): 31.43
Avg. industrial lease rate ($psf/yr): 10.69
Avg. general lease rate ($psf/yr): 21.94
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.1800
Peak electricity cost for mid-size industrial business ($/kWh): 0.1800

Taxes & Regulation

Business license cost ($): $50 to $199
Avg. processing time for building permit, most recent calendar year: Less than 3 weeks
Non-residential property tax rate (% of assessed value): N/A
Commercial property tax rate (% of assessed value): 1.864000
Industrial property tax rate (% of assessed value): 3.045000
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: Burlington's Planning and Building Department offers a Fast Track Building Permit Service. The Economic Development Corporation offers services to businesses to help them achieve success in today's fast paced economy, including business seminars and workshops, site selection assistance, investment support, market analysis and intelligence, and expansion assistance

Other

Largest employers: Cogeco Cable; Sofina Foods; Joseph Brant Hospital
Leading industries: Manufacturing; Service; Trade
Value of capital projects >$5 million planned or under construction ($ million): 1,014,000,000
Special amenities: Burlington enjoys access to waterfront trails, several provincial parks, the Royal Botanical Gardens and arts institutions including the Art Gallery of Burlington and the Burlington Performing Arts Centre.
Special economic development initiatives: Burlington’s strategic plan aims to attract research and develompent-oriented companies with its Innovation District, an area following the Queen Elizabeth Way. The city supports a career accelerator program, FreshInsights Consulting.