Canada’s Best Places for Business 2016

Coquitlam, B.C.

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Population: 139,774
Annualized population growth (%) 1.43
Avg. household income ($): 92,128
Total value of building permits issued, most recent year ($): 366,627,079
Avg. office lease rate ($ psf/yr): 25.41
Corporate income tax rate (%): 26.0
City website: www.coquitlam.ca

Market

Pop. within 1 hr commuting distance: 2,706,849
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.31
Adults who have completed university degree (%): 31.59
Adults who have completed bachelor''s degree (%): 64.38
Unemployment rate, most recent month (%): 5.62

Costs

Avg. home price ($): 605,271
Avg. retail lease rate ($ psf/yr): 30.42
Avg. industrial lease rate ($psf/yr): 12.33
Avg. general lease rate ($psf/yr): 22.71
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 ($): $200 to $499
Avg. processing time for building permit, most recent calendar year: More than 3 weeks
Non-residential property tax rate (% of assessed value): N/A
Commercial property tax rate (% of assessed value): 1.210000
Industrial property tax rate (% of assessed value): 1.231000
Small business income tax rate, if different (%): 13.0
Sales tax (%): 12
Special regulations or zoning: N/A

Other

Largest employers: Coquitlam School District; City of Coquitlam; Natural Factors
Leading industries: Retail; Services; Health Care
Value of capital projects >$5 million planned or under construction ($ million): 1,500,000,000
Special amenities: Coquitlam is home to 70 parks and 95 kilometres of hiking and cycling trails. The city hosts 70 festivals annually.
Special economic development initiatives: Coquitlam was recognized with the BC Small Business Roundtable’s Open for Business Award in 2013.