Kitchener, ON Overview Kitchener is a major economic hub in Ontario with a population of over 210,000, located in a ...
Kitchener, ON Overview
Kitchener is a major economic hub in Ontario with a population of over 210,000, located in a large metropolitan area with a population of half a million. Kitchener has funneled money into urban development, especially their downtown area, both to draw new business and to make the city more attractive to current and potential residents. The city also focuses on sustainable development, by encouraging green transportation methods, such as biking, by designing a better waste system and by initiating other projects.
Overall, compared with major Canadian cities such as Toronto, Kitchener's cost of living is significantly lower. Housing, transportation, groceries, and recreational activities typically average at least 10 per cent and often as much as 50 per cent lower than Toronto.
Kitchener, ON Job Opportunities
Kitchener's economy receives significant boosts from the goods-producing sector, the services sector, the manufacturing industry, and the trade industry.
The refurbished former manufacturing buildings in Kitchener's downtown area are attracting businesses to open Kitchener locations, such as Google and Desire2Learn. Additionally, the metropolitan area's three major post-secondary education institutions attract young people to the area. Jobs in traditional business roles, such as management and finance, are merging with innovation and new technologies in Kitchener's business industry, and this trend will only continue.
Kitchener, ON Employment Trends
Kitchener's city government has recently decided to funnel economic development efforts into five major areas, one of which is to encourage new businesses and startups to make a home in Kitchener. Major incentives include buildings and clusters of businesses in a range of sectors. More business space will be opening in coming years.
Despite the development of the downtown area, retailers are facing considerable competition, making the downtown retail sector less successful than intended. The availability of office space is only increasing, providing a boost for the downtown area's economy.