Best Place to Invest in Alberta
Tuesday, July 18, 2006 11:59:02 AM
The Real Estate Investment Network (REIN) has ranked the City of Grande Prairie as one of Alberta’s top two major centres for maximum return on real estate investment. In fact, only Edmonton is ahead of Grande Prairie.
REIN has just completed its last research on the best municipalities to invest in across Alberta. Grande Prairie has been noted for making the largest positive move since the last report, from 8th place to 2nd. According to the report to be published in August, Grande Prairie is more attractive than Calgary, Red Deer, Lethbridge, Ft. McMurray and Sherwood Park when it comes to real estate investments.
The upcoming report is a positive reflection on the City of Grande Prairie’s investment in facilities and infrastructure to build community capacity.
“Current investors have known for several years that Grande Prairie is a booming community. Grande Prairie’s national reputation as a regional hub for sound investment opportunities continues to grow,” commented Mayor Wayne Ayling, City of Grande Prairie. “It’s worthwhile noting, lifestyle and political climate are factors in the REIN ranking. It shows businesses are continuing to grow and prosper in the Grande Prairie economy, while residents enjoy an urban lifestyle enviable of major cities.” Grande Prairie—it’s a good life.
For more research from REIN:
- Visit: www.reincanada.com
- Phone: 1-888-824-7346
For information on investment opportunities in Grande Prairie:
- See our Economic Development pages
- Phone: (780) 538-0308
LOCATION
Winnipeg lies at the geographic centre of North America. Winnipeg is the capital city of Manitoba, a resource-rich province of over 1.1 million people bordered by Ontario to the east, Saskatchewan to the west, and North Dakota and Minnesota to the south. The city is just 100 km (62 miles) from the United States border and is the major Canadian centre closest to Mexico.
Winnipeg’s history is the tale of a prime meeting place at the junction of two rivers – the north-flowing Red and the east-flowing Assiniboine. The Forks, as the junction was named by 18thcentury fur traders, has been a hub for commerce and transportation for more than 6,000 years.
DIVERSITY
Winnipeg has the most diverse economy of major cities in Canada. Key industries include: transportation and distribution, aerospace, agribusiness, finance and insurance, biotechnology and life sciences, information and communications technology, media, electric power, apparel and furniture manufacturing.
Winnipeg is also one of the most culturally diverse cities anywhere. Some 100 languages are represented in the region and Winnipeg is well known for its cultural achievements and flourishing arts scene.
AREA
Total Area in City ............................... 462 sq. km (178 sq. mi.)
Riverbank Frontage ........................................ 178 km (111 mi.)
Source: City of Winnipeg
POPULATION
Total Population of Census Metropolitan Area (2007)
............................................................................. 712,700
Population by Age Group
17 and Under ........................................................ 153,192
Age 18-24 ............................................................... 69,406
Age 25-64 ............................................................. 390,302
Age 65-74 ............................................................... 44,915
Age 75 and over ..................................................... 48,937
Median Age ................................................................ 38.0
Source: Statistics Canada
Published by DestinationWinnipeg Inc.
Winnipeg’s economic development and tourism services agency
ROAD DISTANCE (in kilometers: 1km = 0.62 mile)
Brandon, MB .............................................................. 200
Regina, SK .................................................................. 574
Saskatoon, SK ............................................................. 777
Edmonton, AB ......................................................... 1,302
Calgary, AB ............................................................. 1,329
Vancouver, BC ......................................................... 2,372
Kenora, ON ................................................................. 205
Thunder Bay, ON ........................................................ 702
Toronto, ON ............................................................. 2,079
Ottawa, ON .............................................................. 2,171
Montreal, QC ........................................................... 2,291
Quebec City, QC ...................................................... 2,535
Grand Forks, ND ......................................................... 231
Fargo, ND ................................................................... 350
Minneapolis, MN ........................................................ 742
Chicago, IL .............................................................. 1,384
Kansas City, MO ...................................................... 1,315
Detroit, MI ............................................................... 1,749
New York, NY ......................................................... 2,592
Denver, CO .............................................................. 1,760
Los Angeles, CA ...................................................... 3,125
Source: Culture, Heritage & Tourism, Province of Manitoba
June 2007
Fast Facts
CLIMATE
Average Summer Temperature ................... 25.4ºC (77.7ºF)
Average Winter Temperature ................................ -12.9ºC (8.8ºF)
Average Annual Precipitation ............................... 51.4cm (20.2”)
Average Annual Rainfall ......................... 41.6cm (16.4”)
Average Annual Snowfall ...................... 110.6cm (43.5”)
Winnipeg has 2,372 hours of sunshine on average per year,
among the highest of Canadian cities, and 2,727 hours of clear
skies on average per year, the highest of all Canadian cities.
Source: Environment Canada
HOUSING
Average House Price Comparison (2006)
Winnipeg, MB ............................................................... $160,778
Calgary, AB ................................................................... $346,675
Edmonton, AB ............................................................... $250,915
Halifax, NS .................................................................... $203,178
Montreal, QC ................................................................. $215,659
Ottawa, ON .................................................................... $257,481
Toronto, ON ................................................................... $352,388
Vancouver, BC ............................................................... $509,876
Source: Canadian Real Estate Association, WinnipegREALTORS®
Average Two Bedroom Apartment Rent (2006)
Winnipeg, MB ...................................................................... $709
Calgary, AB .......................................................................... $960
Edmonton, AB ...................................................................... $808
Halifax, NS ........................................................................... $799
Montreal, QC ........................................................................ $636
Ottawa, ON ........................................................................... $941
Toronto, ON ....................................................................... $1,067
Vancouver, BC ................................................................... $1,045
Source: Canadian Mortgage and Housing Corporation
UTILITIES
Electric and Gas: Manitoba Hydro, Centra Gas
Water: City of Winnipeg
COMMUNICATION SERVICES
Newspapers: Daily & Sunday: 2 Weekly: 5
Radio Stations: 24
Television Stations: CBC, CKY, Global, Citytv,Aboriginal Peoples Television Network
Telephone Service: MTS Communications Inc.
Long Distance Services: MTS, AT&T, Primus, Sprint, Telus
Mail Service: Canada Post, Purolator, Federal Express, UPS,Loomis
RECREATION
Park Sites ................................................................................ 937
Park Area .................................................................. 10,260 acres
Golf Courses ............................................................................ 24
Indoor Arenas ........................................................................... 30
Curling Rinks ........................................................................... 20
Indoor Swimming Pools ........................................................... 13
Recreation Centres ..................................................................... 9
Libraries ................................................................................... 20
SPORTS & ENTERTAINMENT
Canadian Football League Team (Winnipeg Blue Bombers)
American Hockey League Team (Manitoba Moose)
Northern Baseball League Team (Winnipeg Goldeyes)
Race Track
Casinos
Riverboat Tours
MTS Centre (seats 15,015)
Winnipeg Stadium (seats 29,000)
Winnipeg Convention Centre
Royal Winnipeg Ballet
Winnipeg Symphony Orchestra
IMAX Theatre
Performing Arts Organizations
Museums
Galleries
Arts Education Facilities
Assiniboine Park Zoo
Amusement Parks
Water Slides
Community Centres
Source: City of Winnipeg, Film and Cultural Affairs
MEDICAL CARE
Hospitals..................................................................................... 9
Number of Beds .................................................................. 2,979
Personal Care Homes ............................................................... 41
Medical Doctors (in Manitoba) ........................................... 2,074
Dentists................................................................................... 400
Doctors of Chiropractic .......................................................... 226
EDUCATION
Post-Secondary Enrolment (2006)
University of Manitoba ..................................................... 26,938
University of Winnipeg ....................................................... 9,341
St. Boniface College ............................................................ 1,187
Red River College ............................................................. 31,503
Canadian Mennonite University ............................................. 570
Source: University of Manitoba, University of Winnipeg, Red River College, St.
Boniface College, Canadian Mennonite University
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GROSS DOMESTIC PRODUCT
Winnipeg CMA (2006) (1997 $) ................................ $22 billion
Source: Conference Board of Canada Metropolitan Outlook, Winter 2007
EMPLOYMENT BY INDUSTRY
WINNIPEG CMA
Employed Labour Force, by Industry (2006, in thousands)
All industries ........................................................................ 382.2
Goods-producing sector ......................................................... 70.8
Primary .................................................................................. 3.1
Utilities .................................................................................. 4.2
Construction ........................................................................ 17.7
Manufacturing ..................................................................... 45.8
Services-producing sector .................................................... 311.4
Trade ................................................................................... 60.4
Transportation and warehousing ......................................... 23.5
Finance, insurance, real estate and leasing .......................... 25.4
Professional, scientific and technical services ..................... 18.9
Management of companies and administrative ................... 14.3
Educational services ............................................................ 29.4
Health care and social assistance ......................................... 52.4
Information, culture and recreation ..................................... 17.5
Accommodation and food services ..................................... 27.9
Other services ...................................................................... 16.4
Public administration .......................................................... 25.5
Source: Statistics Canada, Labour Force Historical Review
UNEMPLOYMENT RATE
Winnipeg (2006) .................................................................. 4.5%
Canada (2006) ...................................................................... 6.3%
Source: Statistics Canada
RETAIL AND INCOME DATA
Retail Sales ($ millions, 2006) ........................................... $8,458
Source: Statistics Canada
Average Earnings Total
Average Individual Earnings (2004) ................................ $28,600
Average Family Income (2004) ....................................... $74,400
Source: Statistics Canada
TOURISM
Annual Visitors to Winnipeg (2004) ........................... 2.7 million
U.S. Visitors (2004) .................................................... 0.3 million
Total Visitor Expenditures (2004) ........................... $523 million
Source: Statistics Canada Cities Projects
Total Hotel & Motel Rooms ................................................ 6,600
Winnipeg Convention Centre (total floor space) >160,000 sq. ft.
LARGE CORPORATIONS BASED IN WINNIPEG
Great-West Lifeco Inc. .................................................. Insurance
Cargill Ltd. .............................................................. Agribusiness
Canadian Wheat Board ........................................... Agribusiness
CanWest Global Communications Corp. ............................ Media
Agricore United ....................................................... Agribusiness
IGM Financial Inc. ............................................................Finance
Manitoba Telecom Services Inc. ................. Telecommunications
Manitoba Hydro-Electric Board ......................................... Utility
Wawanesa Mutual Insurance Co. .................................. Insurance
James Richardson & Sons, Limited ....................... Conglomerate
Boeing Canada Inc. ................................................Manufacturing
Standard Aero Holdings Inc. .................................Manufacturing
North West Company Fund ........................................... Merchant
Manitoba Public Insurance Corp. .................................. Insurance
HudBay Minerals Inc. ...................................................... Mining
Ridley Inc. ................................................................ Agribusiness
Winpak Ltd. ...........................................................Manufacturing
Centra Gas Manitoba Inc. ................................................... Utility
Manitoba Liquor Control Commission ............................... Retail
Manitoba Lotteries Corp. .......................................... Amusement
Paterson GlobalFoods Inc. ....................................... Agribusiness
Palliser Furniture Ltd. ............................................Manufacturing
Monsanto Canada Inc. ................................................... Chemical
Kitchen Craft of Canada Ltd. .................................Manufacturing
Bison Transport Inc. .............................................. Transportation
Buhler Industries Inc. ............................................Manufacturing
Dairy Farmers of Manitoba ..................................... Agribusiness
Boyd Group Income Fund ................................................ Service
Truserv Canada Cooperative Inc. ......................................... Retail
Reimer Express Lines Ltd. ..................................... Transportation
Pollard Holdings LP ........................................................ Printing
Old Dutch Foods Ltd. ............................................Manufacturing
Source: from Financial Post Business FP500, June 2006
INDUSTRIAL SPACE
Winnipeg has 12 fully serviced industrial parks collectively
representing over 2,000 acres of space.
Average Net Rent (warehouse, per sq. ft.) .......................... $4.00
Industrial Vacancy Rate ......................................................... 5%
Source: Colliers International
COMMERCIAL/INDUSTRIAL LEASE RATES
Downtown Office Space
Class “A” net average rent $16.10 per sq. ft; vacancy rate 7.6%
Class “B” net average rent $11.13 per sq. ft; vacancy rate 4.8%
Class “C” net average rent $9.43 per sq. ft; vacancy rate 6.5%
Source: Cushman Wakefield LePage
VALUE OF BUILDING PERMITS
Winnipeg (2006) ..................................................... $912 million
Source: Statistics Canada
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TRANSPORTATION
Major Highway Systems
• No. 1 Trans Canada (east-west) direct connection to all major urban centres in Canada
• Manitoba No. 75 South to connect with U.S. Interstate No. 29 and Minnesota No. 94 (Border crossing: Emerson)
• Manitoba No. 59 to connect with Minnesota No. 59 and U.S. #2 (Border Crossing: Tolstoi)
Motor Freight Service
Winnipeg is serviced by over 30 motor freight carriers. Having developed and maintained its position as a transportation centre, Winnipeg is the headquarters for eight of the top ranking interprovincial general freight carriers:
Arnold Bros. Transport Ltd. Bison Transport Services Ltd.
Kleysen Transport Ltd. Paul’s Hauling Ltd.
Purolator Courier Reimer Express Lines Ltd.
TransX Ltd. Winnipeg Motor Express Inc.
In addition, Canadian Pacific Railway and Canadian National Railway operate intermodal terminals in Winnipeg.
Source: Manitoba Highways & Government Services
Water Transportation
• Port of Churchill provides Manitoba direct access to the sea
• Αssiniboine River – navigable for recreation
• Red River – navigable for recreation
Air Service
The Winnipeg International Airport (YWG), operated by the
Winnipeg Airports Authority Inc. is the only international airport
between Toronto and Calgary capable of handling large freighter
aircraft. YWG is competitively positioned as a 24-hour airport
and serves nearly 3.4 million passengers, 140,000 aircraft
movements, and handles over 150,000 metric tonnes of cargo
annually.
Airlines operating out of Winnipeg International Airport:
Passenger Carriers
AeroMexico Air Canada
Air Transat Air West Aviation
Bearskin Airlines Calm Air
Delta Airlines Fast Air
First Air Jazz Airlines
Keystone Air Service Kivalliq Air
Northway Aviation Northwest Airlines
Perimeter Aviation Skyservice Airlines
United Express WestJet Airlines
Air Cargo Carriers
Air Canada Cargo Calm Air
Cargojet FedEx
First Air Northwest Cargo
Perimeter Purolator
UPS WestJet Cargo
Source: Winnipeg Airports Authority Inc.
TRADE
Total Merchandise Exports:
From Province of Manitoba ($ millions, 2006) ....... $11,343
To the United States ($ millions, 2006) .................... $8,596
Source: Manitoba Bureau of Statistics
Destination Winnipeg Inc. is Winnipeg’s economic development and tourism services agency, an arm’s length organization led by a
private sector board with core funding from the City of Winnipeg and the Province of Manitoba. Destination Winnipeg markets the city
and provides services to facilitate economic development and tourism opportunities for Winnipeg in collaboration with partners.
Destination Winnipeg provides key services such as information, marketing, brokering, partnering, and project management and
support.
Disclaimer: Destination Winnipeg endeavours to provide accurate information gathered from a variety of sources, but makes no representation or guarantee on the reliability
and accuracy of such information.
Destination Winnipeg Inc. Toll free: 800.665.0204 Tel. 204.943.1970 www.destinationwinnipeg.ca
300 – 259 Portage Ave Fax. 204.942.4043
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