Canada’s Best Places for Business 2016

Québec, Que.

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Population: 546,544
Annualized population growth (%) 0.87
Avg. household income ($): 71,274
Total value of building permits issued, most recent year ($): 825,744,000
Avg. office lease rate ($ psf/yr): 30.34
Corporate income tax rate (%): 26.9
City website: www.ville.quebec.qc.ca

Market

Pop. within 1 hr commuting distance: 946,274
Adults who have completed apprenticeship, trades certificate or diploma (%): 14.2
Adults who have completed university degree (%): 26.78
Adults who have completed bachelor''s degree (%): 61.47
Unemployment rate, most recent month (%): 3.49

Costs

Avg. home price ($): 265,205
Avg. retail lease rate ($ psf/yr): 25.00
Avg. industrial lease rate ($psf/yr): 10.25
Avg. general lease rate ($psf/yr): 29.03
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0977
Peak electricity cost for mid-size industrial business ($/kWh): 0.1194

Taxes & Regulation

Business license cost ($): No fee
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): 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: Gouvernement du Québec; l'Université Laval; Centre hospiltalier universitaire de Québec
Leading industries: Government; Finance; Technology
Value of capital projects >$5 million planned or under construction ($ million): 410,065,408
Special amenities: Québec is the provincial capital and a UNESCO World Heritage Site. It is close to five alpine ski facilities and hosts the world’s largest Winter Carnaval.
Special economic development initiatives: Québec is home to 14 industrial and technology parks. It hosts LE CAMP, a technology startup incubator and accelerator.