Economic Profile

Niagara is a major gateway to North America, through its 12 municipalities. Located in the heart of Southern Ontario and bordering on the United States, the Niagara Region, of approximately 430,000 people is situated between Lake Ontario and Lake Erie.

Its cities and towns are less than a one hour drive to Toronto, Buffalo or Western New York. Businesses are within one day's drive of 55% of all U.S. manufacturing activity, almost half of the U.S. population. Niagara is accessible worldwide through the St. Lawrence Seaway and Welland Canal. The Niagara border is the second busiest commercial crossing between the U.S. and Canada, carrying 19% of all trade between the two countries.

Manufacturing is the region’s major economic driver and includes transportation, machinery, fabricated metal, food processing, primary metal, plastic and rubber. Agriculture, the greenhouse and wine industries are also very important to the region’s economy.

Profile

Population (2011) – 431,346
Labour Force Estimate (2012) – 219,800
Population Density (per square/km) – 232.6
Total Geographical Area – 1,854.25 km2
Market (500 mile radius) – Estimated 78,147,011 people
Average Income (Per Capita, 2012 Estimate) – $30,366
Average Household Income (2012 Estimate) – $74,367 
Total Private Dwellings(2011) – 188,877
Average Housing Price (2011 Resale Market) – $223,066
Housing Starts (2011) – 1,341
Unemployment Rate (May 2013)* – 8.6%
Population with Post-Secondary Education (2012 Estimate) – 161,013
Universities within 100km – 18
Retail Sales Estimate (2012) – $5,789,606,822
Number of Businesses (December 2012) – 24,994
Source: Various (Estimates)

*Adjusted for seasonality
 


International Gateway

Value of Trade Crossing Niagara-US Borders, 2011 (USD) (both ways) – $81,897,296,783
Volume of People Crossing Niagara-US Borders, 2011 (both ways)* – 13,730,121

*Includes pedestrians; and train, bus and personal vehicle passengers

Industrial Composition

 Number of Companies by Industry Sector, Niagara Region, December 2012

Industry (by NAICS Code) Total
11- Agriculture, Forestry, Fishing and Hunting 1,315
21- Mining, Quarrying, and Oil and Gas Extraction 21
22- Utilities 33
23- Construction 3,116
31-33- Manufacturing 958
41- Wholesale Trade 938
44-45- Retail Trade 2,879
48-49- Transportation and Warehousing 1,031
51-Information and Cultural Industries 278
52- Finance and Insurance 1,339
53- Real Estate and Rental and Leasing 2,809
54- Professional, Scientific and Technical Services 2,490
55-Management of Companies and Enterprises 727
56- Administrative and Support, Waste Management and Remedian Services 1,033
61- Educational Services 211
62- Health Care and Social Assistance 1,570
71-  Arts, Entertainment and Recreation 534
72- Accommodation and Food Services 1,508
81- Other Services - except public administration 2,182
82- Public Administration 22
TOTAL 24,994


Source:  Statistics Canada — Canadian Business Patterns, December 2012

Percentage GDP by Industry

Source: Niagara Economic Development analysis of data from Conference Board of Canada, GDP at Basic Prices by Industry - All Industries - St. Catharines-Niagara (Millions $2002)