Canada’s Best Places for Business 2016

Winnipeg, Man.

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Population: 796,364
Annualized population growth (%) 1.32
Avg. household income ($): 85,562
Total value of building permits issued, most recent year ($): 1,595,991,000
Avg. office lease rate ($ psf/yr): 22.16
Corporate income tax rate (%): 27.0
City website: www.winnipeg.ca

Market

Pop. within 1 hr commuting distance: 904,565
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.04
Adults who have completed university degree (%): 24.70
Adults who have completed bachelor''s degree (%): 66.26
Unemployment rate, most recent month (%): 6.26

Costs

Avg. home price ($): 298,019
Avg. retail lease rate ($ psf/yr): 30.49
Avg. industrial lease rate ($psf/yr): 10.83
Avg. general lease rate ($psf/yr): 20.81
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0670
Peak electricity cost for mid-size industrial business ($/kWh): 0.0670

Taxes & Regulation

Business license cost ($): More than $500
Avg. processing time for building permit, most recent calendar year: More than 3 weeks
Non-residential property tax rate (% of assessed value): 5.300000
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 (%): 10.5 (up to $450,000)/22.5 ($450,000–500,000)
Sales tax (%): 13
Special regulations or zoning: Winnipeg's CentrePort Canada's Foreign Trade Zone programs help companies manage imported inventories by offering immediate cash-flow benefits. The municipality also offers Tax Increment Financing (TIF) as a means for financing community revitalization projects, and supports several Business Improvement Zones

Other

Largest employers: Manitoba Telecom Services; Great-West Life; Boeing Canada
Leading industries: Manufacturing; Tourism; Transport/Logistics
Value of capital projects >$5 million planned or under construction ($ million): 1,799,667,296
Special amenities: Winnipeg’s number-one tourist destination is The Forks National Historic Site. The city is home to the Canadian Museum of Human Rights and the Royal Winnipeg Ballet. Annual festivals include Festival du Voyageur, Folklorama and the Winnipeg Fringe Theatre.
Special economic development initiatives: Winnipeg is redeveloping its historic Exchange District into the “Innovation Alley” ecosystem to house high-tech incubators, accelerators and co-working spaces.