Canada’s Best Places for Business 2016

Leamington, Ont.

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Population: 52,260
Annualized population growth (%) 0.44
Avg. household income ($): 73,719
Total value of building permits issued, most recent year ($): 70,474,494
Avg. office lease rate ($ psf/yr): N/A
Corporate income tax rate (%): 26.5
City website: www.leamington.ca

Market

Pop. within 1 hr commuting distance: 481,787
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.08
Adults who have completed university degree (%): 11.33
Adults who have completed bachelor''s degree (%): 63.83
Unemployment rate, most recent month (%): 5.29

Costs

Avg. home price ($): 249,421
Avg. retail lease rate ($ psf/yr): 26.12
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 20.89
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0900
Peak electricity cost for mid-size industrial business ($/kWh): 0.0900

Taxes & Regulation

Business license cost ($): No fee
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): 4.604156
Industrial property tax rate (% of assessed value): 3.084864
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: N/A

Other

Largest employers: Highline Mushrooms; Highbury Canco; Leamington District Memorial Hospital
Leading industries: Manufacturing; Health Care; Agri-Business
Value of capital projects >$5 million planned or under construction ($ million): 2,927,000
Special amenities: Leamington includes both Point Pelee National Park and then Caldwell First Nation. It is home to the Kinsmen Recreation Complex and hosts the annual Sip & Savour Experience festival.
Special economic development initiatives: N/A