Canada’s Best Places for Business 2016

Chatham-Kent, Ont.

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Population: 106,115
Annualized population growth (%) -0.11
Avg. household income ($): 70,048
Total value of building permits issued, most recent year ($): 106,474,851
Avg. office lease rate ($ psf/yr): N/A
Corporate income tax rate (%): 26.5
City website: www.chathamkent.ca

Market

Pop. within 1 hr commuting distance: 283,281
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.29
Adults who have completed university degree (%): 11.37
Adults who have completed bachelor''s degree (%): 67.18
Unemployment rate, most recent month (%): 8.18

Costs

Avg. home price ($): 178,841
Avg. retail lease rate ($ psf/yr): 11.18
Avg. industrial lease rate ($psf/yr): 5.48
Avg. general lease rate ($psf/yr): 9.13
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.1200
Peak electricity cost for mid-size industrial business ($/kWh): 0.1200

Taxes & Regulation

Business license cost ($): $50 to $199
Avg. processing time for building permit, most recent calendar year: Less than 2 weeks
Non-residential property tax rate (% of assessed value): N/A
Commercial property tax rate (% of assessed value): 4.289483
Industrial property tax rate (% of assessed value): 4.701483
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: Chatham-Kent’s Official Plan guides the short-term and long-term physical development of all lands within the municipality

Other

Largest employers: Lambton-Kent District School Board; Municipality of Chatham-Kent; Chatham-Kent Health Alliance
Leading industries: Manufacturing; Service; Agriculture
Value of capital projects >$5 million planned or under construction ($ million): 12,545,000
Special amenities: Chatham-Kent is made up of 25 individual communities, including two First Nation territories, and boasts many natural and cultural attractions.
Special economic development initiatives: Chatham-Kent is launching an Industrial Education Community Improvement Plan, and administers the Chatham-Kent Market Expansion Fund to assist exporters.