Sherbrooke, Que., is tops, while Toronto, Calgary and Vancouver hover
near the bottom of the list in Canadian Business magazine's surprising
seventh-annual rankingsTORONTO, Sept. 11 /CNW/ - In recent years, the loonie's flight has wiped
out much of Canada's financial advantage over its southern neighbour, while
manufacturing jobs have fled in search of lower-cost regions where companies
can pay workers pennies on the dollar. But even so, Canada is still a more
attractive place to do business than the United States or even some emerging
economies.
This week, Canadian Business magazine reports on why this is so and looks
at the advantages and disadvantages of setting up shop in different cities
across the country. The complete list and rank of each city in the Canadian
Business Best Cities for Business ranking is available on newsstands starting
today.The best Canadian cities for business:
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Rank City
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1 Sherbrooke, Que.
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2 Levis, Que.
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3 Quebec City
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4 Kitchener
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5 Moncton, N.B.
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Other highlights:
- Kitchener-Waterloo knows best: Despite a manufacturing exodus,
resilient K-W's focus on high-tech and knowledge-based industries makes
it a winner (Overall rank: 4).
- Boomtown, B.C.: Abbotsford is like a gangly teenager, all growth
spurts and awkwardness. Can its infrastructure catch up with its large
size? (Overall rank: 17)
- It's not Toronto: North of the Big Smoke, Vaughan, Ont., has low
taxes, lots of land, a pleasing lifestyle (big residential lots, golf
courses) and a "can-do" business attitude that's getting noticed (Overall
rank: 12).
- A full list of Canada's Best Cities for Business is available at
www.canadianbusiness.com as of Aug. 19 or in the issue of
Canadian Business magazine arriving on newsstands across the country
starting today. Further details are available to media through the
contact below.How we did it:
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, 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 nearly 900 readers, rating the
importance of the five criteria. See www.canadianbusiness.com.
About Canadian Business magazine:
Founded in 1928, Canadian Business is the longest-serving, best-selling
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 more that 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.