Diversified economy responsible for top ranking
Hamilton, ON – August 21, 2012 – The Real Estate Investment Network of Canada today ranked the City of Hamilton as the top location in which to invest in Ontario (2012-2016). This is Hamilton’s second straight ranking in the top position.
“Known formerly as a hard-working steel town, the city has quickly shed this image in the eyes of potential investors – as indicated by the record breaking building permit values Hamilton has experienced in recent years,” said REIN Founding Partner Don Campbell. “The wheels have been set in motion to create a major high-tech industrial park in conjunction with growth at McMaster University, sparking an entrepreneurial spirit in the city.”
The detailed REIN investment report identifies cities, towns and regions poised to outperform other regions of the province over the next 5 years. As part of the research into this Top Investment Cities list, REIN considered the following key fundamentals: Is the area’s average income increasing faster than the provincial average? Is the area’s population growing faster than the provincial average? Is the area creating jobs faster than the provincial average? Does the area have more than one major employer? Is the area in the RBC Affordability Index Hot Zone (25% to 39%)? Will the area benefit from an economic or real estate ripple effect? Has the political leadership created an economic growth atmosphere? Is the Economic Development Office progressive and helpful? Is the area’s infrastructure being built to handle the expected growth? Are there any major transportation improvements in the works? Is the area attractive to Baby Boomers’ lifestyle? Is there a short term problem occurring that is slated to disappear in the future? Is there a noted increase in labour and materials cost in the area?
“This is further proof that the diversification of Hamilton’s economy is starting to pay great dividends,” said the City of Hamilton’s Economic Development Division Director Neil Everson. “We’re thrilled with the ranking once again and encourage investors to contact us to learn more about one of Ontario’s hottest economies.”
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