Canada’s Best Places for Business 2016

Delta, B.C.

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Population: 107,445
Annualized population growth (%) 1.06
Avg. household income ($): 105,716
Total value of building permits issued, most recent year ($): 230,000,000
Avg. office lease rate ($ psf/yr): 24.03
Corporate income tax rate (%): 26.0
City website: www.delta.ca

Market

Pop. within 1 hr commuting distance: 2,644,400
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.7
Adults who have completed university degree (%): 24.67
Adults who have completed bachelor''s degree (%): 62.88
Unemployment rate, most recent month (%): 4.92

Costs

Avg. home price ($): 611,340
Avg. retail lease rate ($ psf/yr): 38.44
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 14.46
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 ($): $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): 1.019820
Industrial property tax rate (% of assessed value): 0.976770
Small business income tax rate, if different (%): 13.0
Sales tax (%): 12
Special regulations or zoning: Delta has a variety of tax exemption revitalization bylaws and fee waivers to spur certain types of development in certain geographic areas

Other

Largest employers: Deltaport; B.C. Ferries; Gordon Food Service
Leading industries: Manufacturing; Transport/Logistics; Construction
Value of capital projects >$5 million planned or under construction ($ million): 85,502,000
Special amenities: Delta has 70 parks, three libraries and two arts centres. It hosts annual festivals including Tour de Delta, the Luminary Festival, the Boundary Bay Airshow and a Technical and Trades Career Fair
Special economic development initiatives: Delta has implemented several tax exemption programs to spur development, including the Saving Our Industrial Lands Initiative and the Downtown Waterfront Revitalization Program.