Canada’s Best Places for Business 2016

Laval, Que.

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Population: 428,862
Annualized population growth (%) 1.10
Avg. household income ($): 76,663
Total value of building permits issued, most recent year ($): 906,886,794
Avg. office lease rate ($ psf/yr): 22.04
Corporate income tax rate (%): 26.9
City website: www.ville.laval.qc.ca

Market

Pop. within 1 hr commuting distance: 4,597,585
Adults who have completed apprenticeship, trades certificate or diploma (%): 13.38
Adults who have completed university degree (%): 22.07
Adults who have completed bachelor''s degree (%): 67.45
Unemployment rate, most recent month (%): 8.21

Costs

Avg. home price ($): 310,899
Avg. retail lease rate ($ psf/yr): 16.59
Avg. industrial lease rate ($psf/yr): 12.68
Avg. general lease rate ($psf/yr): 18.73
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.5050
Peak electricity cost for mid-size industrial business ($/kWh): 0.7660

Taxes & Regulation

Business license cost ($): $200 to $499
Avg. processing time for building permit, most recent calendar year: Less than 3 weeks
Non-residential property tax rate (% of assessed value): 3.134000
Commercial property tax rate (% of assessed value): N/A
Industrial property tax rate (% of assessed value): N/A
Small business income tax rate, if different (%): 18.5
Sales tax (%): 14.975
Special regulations or zoning: N/A

Other

Largest employers: Commission scolaire de Laval; Centre de santé et de services sociaux de Laval; Ville de Laval
Leading industries: Manufacturing; Retail; Service
Value of capital projects >$5 million planned or under construction ($ million): N/A
Special amenities: N/A
Special economic development initiatives: Laval is home to the Quebec Centre for Innovation in Biotechnology.