Vaughan beats T.O. in biz list
Vaughan beats T.O. in biz list
Vaughan
September 18, 2008 11:27 PM
By: Keely Grasser
Vaughan has beat out Toronto, as well as other GTA communities, in a list of Canada’s best cities for business.
The current issue of Canadian Business magazine lists Vaughan as the 12th best city, as compared to Toronto’s 33nd finish, in its annual look at the advantages and disadvantages of establishing businesses in different cities across the country.
What does Vaughan have that Toronto doesn’t?
“Space,” said Andy Holloway, Canadian Business’s features editor.
“Lots of buildings in the Toronto area are old and aren’t equipped with the amenities that businesses want,” he said, adding Vaughan’s open space means businesses can build to suit.
Vaughan Chamber of Commerce president and CEO Deborah Bonk has another theory.
“It’s location, location, location,” she said, explaining that the city is close to Pearson and Buttonville airports, several 400-series highways as well as rail systems.
The cost of doing business in Vaughan is also a little bit cheaper than it is in Toronto, Mr. Holloway said.
That’s one of the major factors his writers looked at when compiling the list: the annual operating cost of running a 300-employee company.
They also looked at cities’ cost of living, average growth in commercial building permits and unemployment and crime rates.
Vaughan also beat out other 905 cities, though Oshawa, Markham, Brampton and Mississauga all made a mark in the top 22.
“It’s a newer city,” Mr. Holloway explained.
There are spaces available in Markham, Brampton and Mississauga, he said, but these cities “haven’t seen the same growth rate in the last three years”.
“Drive up the 400 (in Vaughan) and you’re as likely to hit bulldozers as another car,” Mr. Holloway joked.
Businesses like to be a part of a growing, thriving atmosphere, he said.
“A 300-employee business in Vaughan would be very well-regarded and a leader in the community and in Toronto it would just be another one. Who cares?”
In its announcement about this year’s list, Canadian Business said Vaughan has a “can-do” business attitude.
Ms Bonk said she agrees “110 per cent” with that statement.
“Everyone is very, very proud of Vaughan. When you have excitement, you have good energy,” she said.
The city does have growing pains, she said, but added “turn those growing pains inside out and that’s success”.
For Vaughan to maintain or improve its ranking in next year’s list, Canadian Business will look for continued growth, Mr. Holloway said, as well as other factors the cities are judged on.
However, he said a community’s ranking always depends on how other cities are doing as well.
A full and comparable list of this year’s top cities will be available at cana dianbusiness.com tomorrow.
Topping this year’s list were Sherbrooke, Levis and Quebec City, all in Quebec. Ontario broke the top five with Kitchener-Waterloo in the fourth spot. Barrie placed tenth.
Ms Bonk said Vaughan’s ranking at 12 is great advertising for the city.
“We can boast we’re higher than Toronto,” she joked.