The City of Timmins placed 42nd in an annual ranking by the Canadian Federation of Independent Business (CFIB) for the best Canadian cities and economic regions for starting and growing a business.
Prairies cities, particularly in Alberta, ranked in the top nine, followed by Collingwood, Ont. in tenth place.
Lloydminster was the top-ranked city. Montreal finished last.
Thunder Bay was ranked 51st, Sault Ste. Marie finished 74th , Sudbury placed 105th and North Bay finished near the bottom of the 122 cities ranked at No. 118.
In the category of entrepreneurial policy among “major cities,” Thunder Bay finished fifth in the country due to its relatively balanced property tax system in the eyes of the CFIB.
The cities are ranked according to a number of indicators split into three main categories of presence, perspective and policy.
“There are multiple factors that determine a city’s entrepreneurial potential – from the drive of its residents to external factors such as property tax and investments in infrastructure,” said Ted Mallett, CFIB vice-president and chief economist in an Oct. 20 news release. “This year, some of the top scores go to resource-rich regions of Canada – not only because of the resources they have, but also because being entrepreneurial has always been a deep-seated part of the psyche and culture of these areas.”
To read the full report go online at: www.cfib-fcei.ca/english/article/6656-entrepreneurial-communities-in-canada-2014.html
