Five of the Top 10 spots go to Quebec cities, with Sherbrooke topping the
charts in Canadian Business magazine's sixth annual ranking.
TORONTO, Sept. 11 /CNW/ - Alberta may be trendy, but if you're serious
about business, Quebec's the place to be, according to this year's Canadian
Business Best Cities for Business ranking. This year's Top 10 features five
cities from la belle province.
Sherbrooke, Que., tops Canadian Business's sixth annual ranking of the
best places to set up a business. The city is the second-most export-intensive
area in Quebec, and does a lot of business with the northeastern United
States. For example, Charles Rivers Laboratories of Wilmington, Mass.,
recently announced it's moving to Sherbrooke, bringing an initial 200 jobs in
high-skilled clinical testing. And the city has managed to keep unemployment
at 5.7%, far below the Quebec average. While Sherbrooke's traditional
industrial base floundered over the past several decades, the city has
steadily created a knowledge-based economy to replace it. With eight
post-secondary institutions, Sherbrooke has the highest concentrations of
brains, students, and research and development on the continent, and
contributes a billion dollars to the local economy. "The money came to
Sherbrooke because the expertise was in Sherbrooke," says Quebec Premier Jean
Charest.The Best Canadian Cities for Business:
Rank City
1. Sherbrooke, Que.
2. Charlottetown, P.E.I.
3. Saguenay, Que.
4. Moncton, N.B.
5. Laval, Que.
6. Trois-Rivières, Que.
7. St. John's, Nfld.
8. Saint John, N.B.
9. Oshawa, Ont.
10. Longueuil, Que.The complete list and rank of each city in the Canadian Business Best
Cities for Business ranking is available on newsstands today and through the
contact below.
Methodology
The cities selected for the survey include the country's 25 largest
cities, plus 15 smaller cities (for regional representation). Cities are
ranked on five factors reflecting socio-economic health: the variable
operating costs of doing business, the cost of living, non-residential permits
and unemployment and crime rates. The final ranking weights each factor based
on a Canadian Business online survey of 5,343 readers, rating the importance
of the five criteria. Further details on methodology are available through the
contact below.
About Canadian Business magazine:
Founded in 1928, Canadian Business is the longest-serving, bestselling
and most trusted business publication in Canada. Canadian Business stands
alone as the business magazine in Canada with 100% paid circulation. With a
readership of almost one million, the magazine is published every second
Monday, except in January, July and August, when monthly issues are published.
Special annual issues of Canadian Business include the Investor 500, the MBA
Guide, the Rich 100 and the Best and Worst Boards. Visit
www.canadianbusiness.com/magazine.