Canada’s Best Places for Business 2016

Toronto, Ont.

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Population: 2,849,222
Annualized population growth (%) 1.05
Avg. household income ($): 96,072
Total value of building permits issued, most recent year ($): N/A
Avg. office lease rate ($ psf/yr): 34.00
Corporate income tax rate (%): 26.5
City website: www.toronto.ca

Market

Pop. within 1 hr commuting distance: 6,810,254
Adults who have completed apprenticeship, trades certificate or diploma (%): 4.88
Adults who have completed university degree (%): 35.55
Adults who have completed bachelor''s degree (%): 60.97
Unemployment rate, most recent month (%): 7.98

Costs

Avg. home price ($): 657,103
Avg. retail lease rate ($ psf/yr): 52.62
Avg. industrial lease rate ($psf/yr): 12.74
Avg. general lease rate ($psf/yr): 33.56
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): N/A
Peak electricity cost for mid-size industrial business ($/kWh): N/A

Taxes & Regulation

Business license cost ($): N/A
Avg. processing time for building permit, most recent calendar year: N/A
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 (%): 15.0
Sales tax (%): 13
Special regulations or zoning: N/A

Other

Largest employers: N/A
Leading industries: N/A
Value of capital projects >$5 million planned or under construction ($ million): N/A
Special amenities: N/A
Special economic development initiatives: N/A