Cambridge's Economy

Greg Durocher, President of the Cambridge Chamber of Commerce, talks about the Cambridge economy.

Cambridge is one of Canada’s fastest growing communities with one of the most dynamic and diversified economies in the country. Cambridge is a progressive community that offers the lifestyle, location and labour force to grow your business.  It is strategically located along Highway 401 in southwestern Ontario, and is within a two-hour drive of seven million people. As one of the communities in Canada’s Technology Triangle, Cambridge is home to leading industries in manufacturing, automotive, high technology, environmental, pharmaceutical, professional services, financial services and hospitality/retail. It’s a place with vitality, innovation and quality of life. It’s all right here.



POPULATION

2013 population is 133,000 and is expected to grow to 173,000 by 2029

An estimated 47,810 households in 2013, which is forecasted to reach 51,000 by 2016

Cambridge is part of the Region of Waterloo, with an estimated 2013 population of 563,000 which is forecasted to reach 712,000 in the year 2029

City involvement in industrial land development and community marketing



LOCATION

Ideal location for “Just in Time” manufacturing due to climate and road transportation network

Nestled along the Grand River, a Canadian Heritage River

Within Southern Ontario, the most industrialized area of Canada

Strategically located in Canada's Technology Triangle known for its significant number of technology, science, and advanced manufacturing companies

Right on Highway 401 for ready access to markets and major metropolitan areas

Within 50 to 130 km. (30 to 80 miles) of Toronto including the border crossings of Niagara Falls/Buffalo

Within 50 minutes of Toronto's Pearson International Airport for global travel needs



LABOUR

Within commuting distance of Kitchener, Waterloo, Guelph, Brantford, Mississauga, Milton, Hamilton and several communities in between

Cambridge has a labour force of 67,225 and the surrounding Region has a workforce of 269,265 including an excellent pool of skilled   workers

Over 1/4 of the labour force is employed in manufacturing



DIVERSE INDUSTRIAL BASE

7,512 businesses, of which 495 are manufacturing businesses which range in diversity from advanced manufacturing to leading edge science and technology firms

Strong manufacturing support system through various specialized machine shops, technology-based services and University-sponsored research opportunities



STRONG ECONOMIC GROWTH

The economy of Cambridge has experienced strong growth over the past decade in both output and employment

Non-residential construction in 2013 was valued at $6.7 million.

Residential construction in 2013 was valued at $83.2 million representing 446 housing starts

The total building permit value for 2013 was $152.4 million

Toyota Motor Manufacturing Canada is the largest employer in Cambridge with a 3.01 million square foot facility on 400 acres, employing 4,500 people

The City of Cambridge offers reasonable taxes



LIFESTYLE

Affordable housing. The average price for a home in Cambridge as of December 2013 was $298,149 vs. Ontario average of $395,698 and Canadian average of $398,382.

Excellent schools, 12 community centers and 4 public library branches

100 Parks covering more than 365 Hectares and 14 golf courses within driving distance

Numerous organized sporting and leisure activities with a wide variety of cultural events

7 ice surfaces, 2 private arenas, 5 indoor and 4 outdoor pools, 15 indoor soccer fields

Over 70 km of trails, with over half along the banks of the Grand and Speed Rivers



The Cambridge business community consists of 7,512 businesses in the manufacturing, service, warehouse, retail, professional services and other sectors. Small business continues to dominate the Cambridge landscape with 69% of firms having 1 to 9 employees and 24% having 10 to 49 employees. The manufacturing labour force is 22% of the total workforce reflecting the strength in manufacturing in Cambridge.  The following tables provide additional detailed business characteristics.