Canada’s Best Places for Business 2016

Milton, Ont.

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Population: 99,698
Annualized population growth (%) 2.66
Avg. household income ($): 115,327
Total value of building permits issued, most recent year ($): 365,686,656
Avg. office lease rate ($ psf/yr): 26.26
Corporate income tax rate (%): 26.5
City website: www.milton.ca

Market

Pop. within 1 hr commuting distance: 7,408,813
Adults who have completed apprenticeship, trades certificate or diploma (%): 5.79
Adults who have completed university degree (%): 31.66
Adults who have completed bachelor''s degree (%): 65.55
Unemployment rate, most recent month (%): 4.80

Costs

Avg. home price ($): 522,324
Avg. retail lease rate ($ psf/yr): 15.00
Avg. industrial lease rate ($psf/yr): 10.29
Avg. general lease rate ($psf/yr): 26.23
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.3274
Peak electricity cost for mid-size industrial business ($/kWh): 0.3274

Taxes & Regulation

Business license cost ($): $50 to $199
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): 1.702013
Industrial property tax rate (% of assessed value): 2.801923
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: N/A

Other

Largest employers: Karmax Heavy Stamping; Manhein Auto Auctions Company; Gordon Food Services
Leading industries: Manufacturing; Service; Transport/Logistics
Value of capital projects >$5 million planned or under construction ($ million): 43,500,000
Special amenities: Milton hosts the Mattamy National Cycling Centre and the Milton Centre for the Arts. It is close to the provincial parks of the Niagara Escarpment.
Special economic development initiatives: Milton is home to the Milton Education Village Innovation Centre, a business incubator and training facility in collaboration with Wilfrid Laurier University.