Canada’s Best Places for Business 2016

St. Catharines, Ont.

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Population: 135,324
Annualized population growth (%) 0.06
Avg. household income ($): 74,231
Total value of building permits issued, most recent year ($): 113,734,815
Avg. office lease rate ($ psf/yr): 19.00
Corporate income tax rate (%): 26.5
City website: www.stcatharines.ca

Market

Pop. within 1 hr commuting distance: 1,713,732
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.61
Adults who have completed university degree (%): 19.60
Adults who have completed bachelor''s degree (%): 60.8
Unemployment rate, most recent month (%): 8.20

Costs

Avg. home price ($): 277,039
Avg. retail lease rate ($ psf/yr): 15.63
Avg. industrial lease rate ($psf/yr): 6.46
Avg. general lease rate ($psf/yr): 18.77
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.1030
Peak electricity cost for mid-size industrial business ($/kWh): 0.1030

Taxes & Regulation

Business license cost ($): $50 to $199
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): 3.456243
Industrial property tax rate (% of assessed value): 4.904138
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: N/A

Other

Largest employers: Niagara Health System; Brock University; General Motors
Leading industries: Manufacturing; Education; Health Care
Value of capital projects >$5 million planned or under construction ($ million): 5,500,000
Special amenities: St. Catharine‘s is home to the Welland Canal and the Meridian Centre performing arts facility. It hosts annual events including the Niagara Wine Festival, the Scene Music Festival and a Folk Arts Festival.
Special economic development initiatives: St. Catharine’s provides easy access to the U.S. border, with three border crossings within a 45 minute drive, and three international airports within 100 kilometres.