Winnipeg is a vibrant city with a population of 684,800 (Census Metropolitan Area 2001). Winnipeg offers advantages of a central location at the heart of the continent, competitive operating costs and a stable, highly skilled workforce.
Winnipeg is the northern gateway in the Mid-Continent Trade Corridor; a network of roadways and railways linking it with cities as far south as Mexico. Winnipeg is also the largest distribution center between Vancouver and Toronto.
Historically, Winnipeg has had one of the lowest unemployment rates in the country. In December, 2001, Winnipeg’s unemployment rate was 5.0%, well below the national average.
Statistics Canada indicates that Winnipeg had a total labour force of 371,500 people in 2000. From 1987 to 2000, Winnipeg’s total employment grew by 30,100 workers or almost 10 percent.
Total capital investment in Manitoba reached $5.2 billion in 2000, an on average increase of 6.6 percent per year since 1996. That is slightly higher than the national average of 6.4 percent. Investment in Manitoba's professional, scientific and technical services sectors lead the way, growing an impressive 57 percent between 1996 and 2000.
Winnipeg is home to Canada’s only Commodity Exchange with major agricultural based corporations such as Cargill Limited, James Richardson and Sons Limited, and United Agricore.
Manufacturing is our Strength
Winnipeg’s large and diversified aerospace industry employs 5,400 people and exports 80 percent of its production. Four sector leaders – Boeing Canada Technology, Bristol Aerospace, Air Canada and Standard Aero – as well as a growing number of smaller enterprises serve 1,700 companies on five continents.
Winnipeg is the largest producer of buses on the continent. Buses are the province’s number-one export; shipments in 2000 totaled $1.5 billion. Agribusiness-related manufacturing and technology in Winnipeg enjoys a position of global leadership. Winnipeg is the third-largest garment-making center in Canada, employing more than 8,000 people in 112 firms.
Technologically Advanced Information technology is one of the fastest growing sectors of Winnipeg’s economy, employing more than 12,000 people. This dynamic area brings together major computer-industry players and a wide range of software developers.
Manitoba has among the best research and development tax environments in the country. Major research facilities include the Manitoba Industrial Technology Centre, the National Research Council Institute for Biodiagnostics and the Canadian Science Centre for Human and Animal Health, which contains one of the world’s most secure laboratories for the testing of deadly diseases.
Winnipeg’s extensive post-secondary educational network is both industry-and-research friendly. Winnipeg’s universities and technical colleges include the University of Manitoba, the University of Winnipeg, Red River College and the Collége Universitaire de St.-Boniface.
A Happening Place
Winnipeg’s downtown is moving at an ever-quickening pace. Work is underway on a $125 million downtown entertainment, sports and performing arts complex in the heart of downtown. Plans have also been announced for a $31.5 million downtown campus for Red River College, which will revive five heritage buildings in the historic Exchange District.
Very Affordable
Winnipeg's housing prices remain among the most affordable in the country, with an average house costing $88,553 in 2001. Winnipeg's residential rental rates also remain low, with the average cost for a one bedroom apartment at $473 and a two bedroom at $588 monthly (CMHS 2000 Report.)
A comparison of Winnipeg’s industrial and office real estate market reflected affordable price per square foot rental rates and low vacancy rates when compared to similar size cities in Canada. The average cost per square foot for industrial properties was $5.00 psf with a vacancy rate of 2.5 percent, while office space was $12.000 psf with a vacancy rate of 4.8 percent.
Winnipeg business people have a wealth of information available to them, giving your business a competitive advantage in our global economy.
Source: Manitoba Business Magazine July/August 2001
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