Guelph, Ont., September 15, 2017 – New data released from the 2016 census paints an excellent picture for business development in Guelph. The median household income rose by 2.6 per cent to $77,984 from 2005 to 2015.
This jump in income for Guelphites plays an important role in job growth and attracting talent to the city, which is a goal of the City of Guelph’s Prosperity 2020 strategy. When Guelph’s low unemployment rate of 4.3 per cent is looped in, the result is a thriving community that looks attractive to investors and prospective employees.
“Our goal is to bring jobs to the city and growing household incomes helps with attracting business and talent,” says Scott Stewart, Deputy CAO, Infrastructure, Development and Enterprise. “These results reflect the success of Prosperity 2020 and its strategic direction.”
Although not quite above the provincial rate of growth, Guelph is one of the few cities where median income is on the rise in relation to neighbouring regions. In comparison to the tri-cities (Kitchener, Cambridge, Waterloo), Guelph’s 2015 median household income grew at a higher rate. If you dig even deeper, Guelph also fairs better against other heavy hitters such as Brampton (1.9 per cent), Brantford (1.3 per cent), London (-2.4 per cent), Mississauga (-1.7 per cent) and Windsor (-7.8 per cent).
A key contributor to the rise in median household income has been the diversified nature of the city of Guelph’s economy. As surrounding communities struggled with the decline of the auto sector, Guelph has remained resilient despite auto manufacturing being a significant employer in the city. This can be attributed to growth in the clean tech, professional services and MUSH sectors (municipalities, universities, school boards and hospitals).
“Guelph’s diversified economy has allowed our city to grow during the tough times,” says Peter Cartwright, General Manager of Businesses Development and Enterprise. “This once again highlights Guelph as the place to do business in Southwestern Ontario.”
Guelph continues to attract investment on the national and international stage, while working to ensure good, stable employment for its residents.
About Invest in Guelph
Invest in Guelph represents the business development outcomes associated with the City of Guelph’s economic development strategy, Prosperity 2020. Its purpose is to position and promote Guelph as an investment-ready and responsive community.
For more information
Peter Cartwright, General Manager
Business Development and Enterprise
City of Guelph
519-837-5600 extension 2820