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When your business weighs the differences between the cost of doing business in different regions, it’s important to consider all contributing factors. Mississauga’s cost of doing business is relative to surrounding cities, and quite lucrative once you take into account the number of business advantages within our borders.
Our Advantages
Mississauga’s infrastructure, developed and diverse business ecosystem, and strong municipal financial performance make the city a stable and competitive place to invest. City Council’s enterprise approach to city operations coupled with its sound financial management, are what have allowed Mississauga to plan for the future and simultaneously maintain a very low debt burden.
Large Inventory of Buildings
Mississauga has the second largest inventory of industrial and commercial buildings in the Greater Toronto Area (GTA). Our city’s total office space is 31 million square feet and total industrial space is 157 million square feet.
Strong Industries
Compared to Canada’s 10 largest cities, Mississauga is the only city that ranks fifth or higher in industry concentration for seven key industry sectors (Automotive, Aerospace, Food & Beverage, Life Sciences, Finance and ICT).
Financially Stable
Mississauga has maintained its 'AAA – Stable' credit rating by Standard & Poor’s for 17 years consecutively. We attribute this top rating to our city’s exceptional liquidity levels, low debt burden and strong, diversified economy.
Large Economy
With 90,000+ businesses and 438,000+ people employed, Mississauga has the second largest economy within the GTA – and we continue to grow year after year. In 2019 alone, we added an additional $583.3 million (CAD) in industrial and commercial buildings.
City of Mississauga, 2019 Data
Risks & Stability
1st
in the World for Macroeconomic Stability¹
2nd
Best Place in the World
to locate a Global HQ²
3rd
Best Place in the World
to Start a Business³
For eight years in a row, Canada ranked as having the soundest banking system in the world, according to the World Economic Forum. During the 2008-09 financial crisis, no Canadian bank or insurer failed, and none required bailouts. Canada has posted the fastest employment growth of all G7 countries since 2009, and all jobs that were lost during the recession have been recouped. Canada also has free trade deals with over 51 countries, giving businesses access to over 1.5 Billion customers.
Mississauga as part of the Toronto Region are at the centre of one of the most stable and competitive business environments in the world. As Canada’s economic centre, the region boasts strong and steady GDP growth. The Toronto Region’s economy represents 20% of Canada’s GDP—more than any other metro region or province.
The Region’s economic track record and forecast illustrate a reliable and consistent business environment. In an unpredictable world, our resilience and stability are reassuring.⁴
Political Stability
Politics are always important in the realm of business. When it comes to political stability, Canada is second only to Japan among G20 countries.⁵
Low Corruption
You want to be sure your business is operating in a sound environment. In the G20 member list, Canada is seen as the least corrupt country and places 9th among 180 countries.⁶
¹ World Economic Forum, Global Competitiveness Report 2019, ² Best Countries to Headquarter a Corporation, USA News, 2020
³ World Bank: Doing Business, 2020 Report, ⁴ Toronto Global, 2017 ⁵ World Bank, 2017 ⁶ 2018, Transparency International
Corporate Income Tax
Mississauga, as part of Canada benefits from the low tax rates. Canada’s marginal effective tax rate, METR, on new business investment is lower than any G7 nation, lower than the average METR in the United States and lower than the average METR amongst OECD nations.
26.5%
Combined Federal & Provincial
Corporate Tax Rate
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Property Tax
Property tax is an important factor to consider in any business acquisition. Mississauga’s property taxes are both reasonable and affordable, relative and comparable to surrounding cities.
1.942%
Commercial Office
Property Tax Rate
2.159%
Industrial
Property Tax Rate
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Real Estate Costs
Given the value our properties provide their owners, Mississauga’s real estate pricing is attractive, and can always be related and compared to surrounding cities.
$9.17
Industrial Average Gross
Lease Rate per SQ. FT.
$31.35
Office Average Gross
Lease Rate per SQ. FT.
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Labour Costs (Wages)
High Quality Labour at a Low Cost.
Salaries in Mississauga and the Toronto Region are cost competitive with most U.S. cities. Additional cost savings are automatically passed on to employers because of Canada’s public healthcare system. Interestingly, Mississauga’s average salaries for STEM talent are significantly lower than major markets across the United States, at similar and even higher levels of education and training.
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Services & Utilities
Electricity costs in Ontario are competitive with our U.S. peers. Ontario companies can be part of the global shift towards a low-carbon economy. Our province’s clean electricity system is a leader for North America in the fight against climate change. Ontario-based firms can further reduce energy costs by taking advantage of one of North America’s largest natural gas trading hubs.
Dawn Hub provides Ontario with abundant, competitively priced natural gas, giving businesses direct access to North America’s major natural gas supplies. Currently, more than 100 companies actively trade at Dawn, which increases our ability to stabilize the cost of natural gas throughout the year, in spite of fluctuations.¹
¹ Invest in Ontario, 2018 Data
Incentives
Mississauga and Ontario are committed to supporting your business. We’ve gathered a list of incentives that cover a wide array of topics. Whether you’re exporting or conducting research and development, you can access these incentives through Provincial and Federal Government programs that address your needs.
Ontario Innovation Tax Credit
Qualifying corporations can claim a refundable tax credit for qualified expenditures on scientific research and experimental development performed in Ontario.
Ontario Research and Development Tax Credit
Qualifying corporations can claim a non-refundable tax credit on eligible scientific research and experimental development expenditures performed in Ontario to reduce their Ontario corporate income tax payable.
Business Development Bank of Canada
Provides a range of financing and business advisory services for all stages of business development.
Canada-Ontario Job Grant
Supports the cost of employee training; Employers must contribute one-third of the total costs. Training must be delivered by an eligible, third-party trainer. You may receive up to $10,000 in government support per person for training costs.
Government of Canada & Ontario, 2018 Data
Interested in learning more about our cost advantages?
Don’t just hear it from us
Walter Weber
Walter is the President & CEO of UTEX Scientific Instruments Inc. – a developer of software, instrumentation and mechanical systems for builders and users of advanced nondestructive testing systems. Walter shares his experience including the cost advantages of being located in Mississauga.