Canada’s Best Places for Business 2016

Tillsonburg, Ont.

scroll down
Population: 16,405
Annualized population growth (%) 0.91
Avg. household income ($): 74,961
Total value of building permits issued, most recent year ($): 25,000,000
Avg. office lease rate ($ psf/yr): 10.77
Corporate income tax rate (%): 26.5
City website: www.tillsonburg.ca

Market

Pop. within 1 hr commuting distance: 873,952
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.93
Adults who have completed university degree (%): 12.78
Adults who have completed bachelor''s degree (%): 58.84
Unemployment rate, most recent month (%): 5.79

Costs

Avg. home price ($): 242,742
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): N/A
Avg. general lease rate ($psf/yr): 13.80
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.1800
Peak electricity cost for mid-size industrial business ($/kWh): 0.1800

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): 3.702888
Industrial property tax rate (% of assessed value): 4.560947
Small business income tax rate, if different (%): 15.0
Sales tax (%): 13
Special regulations or zoning: Tillsonburg's community improvement program areas offer approved projects development charge exemptions, building permit fee rebates and investment-related property tax increases

Other

Largest employers: Siemens; Marwood Metal Fabrication; Tillsonburg District Memorial Hospital
Leading industries: Manufacturing; Retail; Health Care
Value of capital projects >$5 million planned or under construction ($ million): 9,000,000
Special amenities: Tillsonburg is home to the Annandale National Historic Site, 13 kilometres of trails and the Bridges at Tillsonburg Gold Course. The Canadian Harvard Aircraft Association, a vintage aircraft society, is housed at Tillsonburg Regional Airport.
Special economic development initiatives: Tillsonburg’s Community Investment Program provides tax and fee rebates. The city has expanded its fiber optic network to provide 1 Gbps Internet network access in industrial areas.