Ontario receives Site Selection magazine's Canadian Competitiveness Award for the third consecutive year

This year's Site Selection magazine Canadian Competitiveness Award goes to the province of Ontario, based upon data derived from qualifying new corporate facilities and expansions.

Ontario places first for the third consecutive year

According to Site Selection magazine, Toronto has the lowest downtown vacancy rate in North America and the most overall downtown office space under construction in Canada. While this intense competition for office space strengthens the office market across the country, it's Ontario's attitude toward removing regulatory burden that has helped the province secure first place for the third consecutive year.

Top tier universities attract global talent to Ontario

According to the Canadian Bureau for International Education, Canadian colleges and universities saw a 20% increase in international student enrolment in 2017. This increase was also met with a 4% decrease in international student enrolment in U.S. colleges and universities. "Communication that comes out of Washington D.C. has impacted universities and impacted the objectives of investors around the world," the CEO of Avison Young, Mark Rose, told Site Selection magazine. "A portion of students who used to look at the U.S. for universities are now looking into Canada instead." This increased interest in Canada from top global talent enhances Canadian human capital and in turn positively affects investment projects. "Is Canada going to continue to be the recipient of global business growth? Absolutely," added Rose.

Downtown Toronto: The place for new investments

"Demand from traditional sectors is being augmented by the proliferation of domestic and global technology and co-working firms, ongoing urbanization and a burgeoning millennial workforce — all part of Canada's emerging innovation economy," said Bill Argeropoulos, Principal and Practice Leader for Avison Young. Reflecting on recent investments drawn north and the high-profile announcement of Toronto making the Amazon HQ2 shortlist, Rose declared, "Canada is open for business."

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November 6, 2018

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