Canada’s Best Places for Business 2016

Cambridge, Ont.

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Population: 138,557
Annualized population growth (%) 1.18
Avg. household income ($): 87,868
Total value of building permits issued, most recent year ($): 185,703,205
Avg. office lease rate ($ psf/yr): 16.14
Corporate income tax rate (%): 26.5
City website: www.cambridge.ca

Market

Pop. within 1 hr commuting distance: 4,442,947
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.88
Adults who have completed university degree (%): 15.66
Adults who have completed bachelor''s degree (%): 65.12
Unemployment rate, most recent month (%): 6.01

Costs

Avg. home price ($): 353,886
Avg. retail lease rate ($ psf/yr): 25.16
Avg. industrial lease rate ($psf/yr): 9.57
Avg. general lease rate ($psf/yr): 15.88
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.1210
Peak electricity cost for mid-size industrial business ($/kWh): 0.1210

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): 3.430940
Industrial property tax rate (% of assessed value): 3.530940
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: N/A

Other

Largest employers: Toyota Motor Manufacturing Canada; Challenger Motor Freight; Loblaw Companies Limited
Leading industries: Service; Construction; Real Estate & Rental Leasing
Value of capital projects >$5 million planned or under construction ($ million): 23,645,785
Special amenities: Cambridge hosts annual festivals including the Mayor’s Celebration of the Arts, the Cambridge Scottish Festival and the Grand River Film Festival. The city is home ot the University of Waterloo School of Architecture.
Special economic development initiatives: Cambridge’s Building Revitalization Program provides financial assistance to renovate building exteriors, while the Contaminated Sites Grant Program defrays cleanup costs for property developers. The city reduces fees for businesses undertaking developments in the downtown core.