Canada’s Best Places for Business 2016

Guelph, Ont.

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Population: 152,747
Annualized population growth (%) 0.99
Avg. household income ($): 94,608
Total value of building permits issued, most recent year ($): 3,732,045
Avg. office lease rate ($ psf/yr): 18.45
Corporate income tax rate (%): 26.5
City website: www.guelph.ca

Market

Pop. within 1 hr commuting distance: 3,991,438
Adults who have completed apprenticeship, trades certificate or diploma (%): 6.68
Adults who have completed university degree (%): 30.61
Adults who have completed bachelor''s degree (%): 59.71
Unemployment rate, most recent month (%): 4.78

Costs

Avg. home price ($): 465,500
Avg. retail lease rate ($ psf/yr): 26.47
Avg. industrial lease rate ($psf/yr): 11.42
Avg. general lease rate ($psf/yr): 21.20
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.4321
Peak electricity cost for mid-size industrial business ($/kWh): 0.2730

Taxes & Regulation

Business license cost ($): $0 to $49
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): 3.270000
Industrial property tax rate (% of assessed value): 3.820000
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: Guelph has specialized aggregate extraction zones (EX), specialized central business zones (CBD), specialized commercial shopping centre zones (NC, CC, RC), specialized commercial-residential zones (CR), specialized convenience commercial zones (CI), specialized floodway zones (FL), specialized industrial zones (B), specialized institutional zones (I), specialized park zones (P), specialized service commercial zones (SC), specialized urban reserve zones (UR), and specialized wetland zones (WL)

Other

Largest employers: Linamar Corporation; Upper Grand District School Board; University of Guelph
Leading industries: Manufacturing; Agriculture
Value of capital projects >$5 million planned or under construction ($ million): 252,000,000
Special amenities: Guelph is home to annual events including the Hillside Festival, the Guelph Wellington Local Food Fest and the Guelph Jazz Festival
Special economic development initiatives: The Grow Guelph Business Retention & Expansion program surveys area businesses to solicit ideas for city initiatives and to measure the effectiveness of existing programs.