Canada’s Best Places for Business 2016

Pembroke, Ont.

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Population: 24,981
Annualized population growth (%) 0.28
Avg. household income ($): 78,277
Total value of building permits issued, most recent year ($): 513,559,569
Avg. office lease rate ($ psf/yr): N/A
Corporate income tax rate (%): 26.5
City website: www.pembroke.ca

Market

Pop. within 1 hr commuting distance: 84,018
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.38
Adults who have completed university degree (%): 16.43
Adults who have completed bachelor''s degree (%): 63.55
Unemployment rate, most recent month (%): 7.51

Costs

Avg. home price ($): 297,929
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): N/A
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0820
Peak electricity cost for mid-size industrial business ($/kWh): 0.1320

Taxes & Regulation

Business license cost ($): No fee
Avg. processing time for building permit, most recent calendar year: Less than 2 weeks
Non-residential property tax rate (% of assessed value): N/A
Commercial property tax rate (% of assessed value): 2.911570
Industrial property tax rate (% of assessed value): 6.039380
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: Pembroke has an M2— Economic Enterprise Zone which encompasses its commercial park and allows for a variety of business uses. Medical marijuana is a notable new addition

Other

Largest employers: Algonquin College Waterfront Campus; KI Canada; HGS Canada
Leading industries: Manufacturing; Education; Health Care
Value of capital projects >$5 million planned or under construction ($ million): 20,000,000
Special amenities: Pembroke is located on the Ottawa River where the Musrat and Indian rivers meet. The city is a 30-minute drive from Algonquin Provincial Park and 90 minutes from Ottawa. It hosts a new campus of Algonquin College.
Special economic development initiatives: Pembroke is home to two industrial parks and runs entrepreneurship development activities with Algonquin College.