Small city. Big future.
Waterloo earned its stripes as a city of the future with the release of the biennial fDi 2021-22 Americas Cities of the Future report. 421 locations across the Americas were classified as major, large, mid-size and small cities and then ranked in five categories: economic potential, human capital and lifestyle, business friendliness and connectivity.
Here are the highlights:
Waterloo scored 5th overall in the small city division
This category includes cities with immediate populations between 100,000 and 350,000, such as Cambridge, Massachusetts and Santa Clara, California. Although Waterloo Region encompasses three cities and four townships, the report focuses on the City of Waterloo.
Thanks to its broad economic base, cutting-edge advancements in tech, manufacturing and more, three world-class post-secondary institutions and proximity to major business hubs, Waterloo’s “overall” future is bright.
Waterloo came 1st in the Human Capital and Lifestyle category
This is measured by indicators such as the number of universities, skillset of graduates and ease of finding skilled employees. With the presence of world-class programs at the University of Waterloo, Wilfrid Laurier University and Conestoga College, Waterloo boasts a diverse, experienced and continuous pool of graduates. Additionally, the co-operative education programs at each post-secondary institution prepare local students to make an immediate and profound impact in their community during their degrees and after graduation.
And we’d be remiss not to mention the Waterloo lifestyle. Waterloo Region is the second fastest growing community in Canada and it shows in day-to-day life. With its excellent transit, blossoming city centres, parks and bustling festivals and events, this community is a great place to live, work and play.
In the Business Friendliness category, Waterloo ranked 4th
This division is measured through indicators such as corporation tax rate, days taken to start a business, the strength of investor protection and credit rating. The talented workforce here in Waterloo, coupled with the low unemployment rate, presents unique opportunities for cultivating and growing business. Plus, Waterloo Region has maintained the highest credit rating possible for 21 years in a row. The presence of major employers in Waterloo, such as OpenText, SAP and Ford seals the deal.
Several other Ontario cities also achieved impressive rankings, especially those along the Toronto-Waterloo Corridor. For example, Toronto was ranked 2nd overall in the major cities category and Mississauga came 1st overall in the mid-sized cities division.
Our province’s diverse economy, skilled workforce, unparalleled quality of life and low corporate taxes set us apart on an international scale, as well as our stature as an international centre of investment, development and innovation.
Waterloo may be in the “small” city category, but there is room for you in our big future.
Want to learn more about Waterloo’s business advantages? Contact our team today.
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