The new 2021 Manufacturing Risk Index from Cushman & Wakefield is a veritable treasure trove of information for manufacturing leaders interested in minimizing risk and understanding new trends in risk mitigation. One clear finding: Canada is a fantastic location for new manufacturing investment.
The report seeks to assess the costs, risks and conditions impacting manufacturing worldwide, with an emphasis on the vulnerabilities exposed during the COVID-19 pandemic. With this goal in mind, the report ranks the most advantageous locations for global manufacturing among 47 countries in Europe, the Americas and Asia Pacific, with assessment happening across four key areas: bounce back, conditions, costs and risks.
The report is organized into four categories:
- Bounce Back: Projected ability to restart manufacturing operations
- Baseline: Focused equally on operating conditions and cost competitiveness
- Costs: Focused on cost reduction
- Risks: Focused on minimizing economic and political risk
Key comparative results:
Canada is in the top quartile in each area except for cost, appearing in one of the top five spots for bounce back, baseline and risk. The only other country to achieve that is China. Other top manufacturers, like the United States, the United Kingdom, Germany, Mexico and Japan routinely score far worse than Canada, including on cost, where Canada is in the second quartile. Essentially, if you’re looking to establish a new manufacturing operation – as an OEM or a supplier – Canada is among the world's most advantageous locations, especially if you are planning to sell to a North American market.
Waterloo can add to these advantages with our prodigious use of advanced manufacturing technologies – we’re home to the largest robotics and automation cluster in Canada. Our exceptional manufacturing workforce – the fourth largest in Canada – is renowned for its quality, which carries over to production efficiency and product quality. For example, Toyota’s local operation is the most award-winning automotive plant in North America, having just received its 20th J.D. Power Plant Quality Award.
Read the full Manufacturing Risk Index for complete results.
Want to learn more about manufacturing in Waterloo? Contact our team, visit our website or learn more about exciting new industrial real estate in the middle of Canada’s manufacturing corridor.
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