It’s that time of year again. Site Selection Magazine recently released their list of Canada’s Best Locations, and for the fourth year in a row, Waterloo is on it.
So, why did Waterloo make the cut once again?
The key isn’t just talent, it’s consistency – something Site Selection recognizes by highlighting CBRE’s scoring tech talent rankings this year, in which Waterloo was named the #1 small tech talent market in North America for the second consecutive year. They focus on other reports, too. Startup Genome recently named the Toronto-Waterloo Corridor the top start-up ecosystem in all of Canada in their Global Startup Ecosystem Report. The report also placed the Corridor at No. 8 in North America and No. 17 in the world.
On top of that, Waterloo was ranked by Resonance Consultancy among the top 5 “Best Small Cities” in Canada, and its ranking can largely be accredited to the University of Waterloo (UWaterloo). Site Selection highlights that an astounding 1,000-plus companies have been founded by UWaterloo grads and about 18% of all founders in Canada are from Waterloo. Pair that with the fact that UWaterloo has been “Canada’s Most Innovative University” for the better part of three decades and it’s no surprise that Waterloo is recognized as a prime location.
“With our unmatched programs for entrepreneurs, our role in supporting the Toronto-Waterloo Tech Corridor and our focus on nurturing the next generation of talent, Waterloo will continue to be a university that positions founders for success,” said Vivek Goel, President and Vice-Chancellor of University of Waterloo.
As for further growth highlighted in the report – the Region of Waterloo International Airport launched a $44 million expansion in October 2021 that will double the facility’s size. Also mentioned were recent expansions from EPAM Systems, RTS Companies and Blendtek Fine Ingredients.
The Site Selection Magazine list, although unranked, does highlight the top provinces in their “Canadian Competitiveness Rankings.” Ontario – where Waterloo is situated – ranks No. 1 on that list as the most competitive province in the nation.
For more information, read Site Selection Canada’s Best Locations ranking.