Regional Prosperity
Prosperity Indicators
Ranking Among 27 Canadian Metropolitan Areas (2006)*:| Period | Result | National Rank | Provincial Rank | |
|---|---|---|---|---|
| Current GDP | 2006 | $21.5 billion | 10th | 4th |
| Real GDP Growth | 1997-2006 | 40.8% | 6th | 4th |
| Employment Growth | 1996-2006 | 26.8% | 6th | 4th |
| Full Time Employment | 2006 | 82% | 10th | 4th |
| Participation Rate | 2006 | 71.5% | 4th | 2nd |
| Employment Rate | 2006 | 67.7% | 5th | 2nd |
| Manufacturing (% of total labour force) | 2006 | 24.7% | 2nd | 2nd |
| Unemployment Rate | 2006 | 5.2% | 11th | 2nd |
| Median Employment Income | 2005 | $31,100 | 4th | 3rd |
| Median Employment Income Growth | 1999-2005 | 16% | 12th | 3rd |
| Net Inflow of People | 2001-2006 | 5.1% | 6th | 3rd |
*Statistics are based on the Kitchener Census Metropolitan Area, which includes Cambridge, Kitchener, Waterloo, North Dumfries and Woolwich.
- The growth rate of the Waterloo Region is nearly twice the Canadian average. The growth rate is reflected in a workforce growth rate of 14.1% between 2001 and 2006.
- The nearly 41 percent growth in GDP from 1997 to 2006 ranked sixth among Canada’s 27 metropolitan areas.
Provision for Continued Growth: A Regional Growth Management Study
With a current population of over 500,000, the Waterloo Region is now the 10th largest urban area in Canada and the 4th largest in Ontario. Given this tremendous growth, and the challenges that growth can sometimes create, Waterloo Regional Council initiated the development of a Growth Management Strategy entitled "Planning Our Future." The Strategy identifies where, when, and how future population and employment growth should best occur. Focusing on both urban and rural communities in the Region, the Strategy - which is consistent with the Province's "Smart Growth" principles – also seeks to preserve and enhance high quality of life and strong community values.The Growth Management Strategy contains several key elements:
- Enhancing the Natural Environment
- Building Vibrant Urban Places
- Providing Greater Transportation Choice
- Protecting the Countryside
- Fostering a Strong Economy
- Ensuring Overall Coordination & Communication
- A projected population of 729,000 by 2031
- A projected 130,000 new jobs by 2031
- Reinforcement of growth of city urban cores
- Rapid transit, central transit corridor priority
- Increased development incentives
- Focus on brownfield development
- Maintainenance of urban/rural boundaries
- Conservation reserves
- Future expansion of employment lands
“The model for Canada’s economic future: Waterloo Region”
“… it has relied on a century of change and innovation to produce one of Canada’s strongest economies. It’s a knowledge capital with a thriving entrepreneurial culture. It’s our future. If Canada is to prosper beyond the current commodities boom, we must learn from Waterloo’s success, or risk becoming a global economic backwater.”
Globe and Mail, Report on Business, April 25, 2006
“… it has relied on a century of change and innovation to produce one of Canada’s strongest economies. It’s a knowledge capital with a thriving entrepreneurial culture. It’s our future. If Canada is to prosper beyond the current commodities boom, we must learn from Waterloo’s success, or risk becoming a global economic backwater.”
Globe and Mail, Report on Business, April 25, 2006
