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Distinctions of Waterloo Region
Strategic Positioning
Canada’s Technology Triangle southwestern Ontario location puts a market of 130 million people within a day’s drive. Waterloo Region lies astride Canada’s most important transportation corridor (Highway 401) and is an hour west of Toronto and less than two hours from two major Canada-US border crossing-Niagara and Detroit/Port Huron. National railroads also serve the region. The Region of Waterloo International Airport affords convenient access to domestic and international destinations via scheduled service through the Detroit gateway. Toronto’s Pearson International Airport is located 45 minutes away, providing direct services to 60% of the US market with a flight time of less than two hours.
A Recognized Technology Cluster
Canada’s Technology Triangle is truly an area built on entrepreneurship and innovation. The success of this region has created a deep pool of talent that consistently ensures continual inflow of educated and ambitious people. The Waterloo region is a globally recognized high technology cluster while also having the second highest concentration of manufacturing activity among Canada’s metropolitan areas. Additionally, it has one of the country’s most prominent insurance industry centers. Our business base is diverse, ranging from automotive employers like TMMC Toyota Motor Manufacturing Canada to high tech employers like RIM Research in Motion, and to countless small start-up companies on the leading edge of innovation.
World Class Education Institutes
Canada’s Technology Triangle’s strategic location is distinguished by exceptional access to quality post-secondary education institutions and world-class skills and talent. The University of Waterloo, Wilfrid Laurier University, Conestoga College Institute of Technology and Advanced Learning and nearby University of Guelph host 50,000 post-secondary students annually, including 10,000 graduate and 11,000 cooperative education students. Wilfrid Laurier University has one of the largest business school in Canada and is also renowned fro its science and music faculties. The University of Waterloo is home to the largest cooperative education program in the world and is consistently ranked first in its role as the nation’s most innovative university.
A Productive and Prosperous Community
Waterloo Region is one of Canada’s fastest growing communities, expected to reach 729,000 people by 2031. The growth rate of the Region is twice that of the National average. The median population age is one of the lowest in Canada. In 2005, CTT's Gross Domestic Product (GDP) was worth $20.9 billion, larger than several Canadian provinces. The 265,000 skilled and talented people making up CTT’s workforce in 2005 has grown 11.1% since 2001.
A Global Orientation to Products and Exports
$12 billion in product exports value in 2004 to worldwide destinations. Part of the North American Free Trade Area, companies here are active exporters. Canada’s Technology Triangle is an ideal gateway for companies serving the American market, with the United States our primary export market. Companies in all sectors of Canada’s Technology Triangle are thriving in a globally competitive environment, and doing so from right here in the heart of North America.
Competitive Advantage for Business Costs
Named as the “most cost effective” location in Canada for doing business, by fDi (the Foreign direct Investment Magazine of the Financial Times Group of London), the Waterloo Region has been ranked as one of the most competitive areas in the KPMG Competitive Alternatives study of international business costs. Canada offers generous research and development tax incentives as well as national medical coverage that serve to further lower costs of doing business.
Highly Skilled Workforce
The labour resource in Canada's Technology Triangle is approximately 260,000 persons, with more than 10,000 employed in automotive-related industry alone. Other leading industries are high tech, advanced manufacturing and business services. The labour pool draws from the some 6 million people within one hour's drive.
Access to more than 150 Research Centres
Exceptional access to private and public research is another hallmark of Canada's Technology Triangle. More than 150 research centres are here, making gains in intellectual knowledge from wireless and internet technologies to state-of-the-art polishing facilities.
Strong Germanic and Historic Roots
Much of the area of picturesque towns and villages was founded by Mennonites, many of whom still reside in rural areas and maintain their traditional lifestyle. This includes transportation by horse-drawn black buggies, a common sight around St. Jacobs and Elmira. Farmers' Markets are another transplanted European tradition, attracting those looking for delicacies from a dozen different ethnic cuisines. Waterloo Region has become a cultural mosaic of talent and people. Enriched by artists, writers, performers, students of the arts and knowledge-based workers, the area offers authentic and unique experiences including the world’s second largest Oktoberfest.
Small Town Lifestyle in a Big City Atmosphere
Canada’s Technology Triangle offers its residents the best of both worlds - the relaxed pace of a smaller community or the hustle and bustle of a large multicultural centre. Whether it’s skiing or fly-fishing on the Grand-a designated heritage river-or hiking along hundreds of kilometers of trails through more than 3,000 acres of parkland there are always exciting recreational opportunities. However, you're never more than one hour's drive from the big city attractions of Toronto, like the Toronto Raptors, Toronto Maple Leafs and Toronto Blue Jays. The cities of Cambridge, Kitchener and Waterloo along with four surrounding townships has a population of 500,000 which ranks Waterloo Region as Canada’s 10th largest and Ontario’s 4th largest metropolitan area. Waterloo Region has what it takes to attract and keep an educated and skilled workforce for life.
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