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City of Niagara Falls Community Investment Profile

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City of Niagara Falls Community Investment Profile CITY OF NIAGARA FALLS COMMUNITY INVESTMENT PROFILE A Refreshing Place For Business NIAGARA FALLS YOUR BRINK OF PROSPERITY THE NIAGARA A THUNDERING COMMITMENT TO COMMERCE TUNNEL Opportunities flow in Niagara Falls! Niagara Falls Ontario, Canada is the epicentre of energy, industry, and innovation. Ontario Power Today, Niagara Falls is an important hydroelectric contributor to the North American Generation completed electricity grid powering homes and businesses across Canada and the United States. the tunnel in 2013 Reliable, plentiful power has laid the foundation for a robust economy, and today to increase the Niagara Falls is equally known for its natural wonders, world-class infrastructure, and hydroelectric capacity of significant business and investment opportunities. the City of Niagara Falls. The City continues to invest in leading-edge projects such as the Montrose Business Park, transit, rebirth of downtown cores, innovation systems, and connections to regional post-secondary institutions. While the City has a proud history, its current COST: focus is on an even more exciting and sustainable future. $1.5 Billion WORK AND PLAY IS SECOND NATURE SIZE: Big City Living – Hometown Comforts. You can have it all, in Niagara Falls! 12.7 metres wide and 10.2 km long Niagara Falls is home to 83,000 people and a wide range of successful businesses. The community is committed to sustainable economic growth and prosperity, and works hard to attract new investment, retain past investment, and assist local businesses in POWER: pursuing expansion opportunities. The Sir Adam Beck While the City may be best known for its tourism amenities, its role as a world-class Generating stations can tourism destination really speaks to its high quality of life, and its strong transportation produce up to 1,997 linkages to the wider world. megawatts of clean energy “DID YOU KNOW?” HERE, ENTREPRENEURIAL & SMALL BUSINESSES ENERGY IS CONTAGIOUS KEY Niagara Falls is home to 6,472 businesses. The vast majority – 5,277 – are dynamic and entrepreneurial ventures with fewer than five employees. FACTS In the past five years, the number of self-employed entrepreneurs has nearly doubled from over 2,000 in 2009 to over 4,100 today. The fact that people are starting new businesses in the community is evidence that POPULATION: Niagara Falls has the right combination of quality of life, support sys- 82,997 tems, and market access. LEVERAGE VARIOUS MARKETS… ONLY MINUTES AWAY LOCAL With easy access to local consumers and neighbouring metropolitan centres, reaching new customers regularly is just one of the everyday WORKFORCE: perks of business operations in Niagara Falls. 69,016 Niagara Falls is located in the Niagara region, which is home to more than 425,000 people. The city is next door to Hamilton, the Greater Toronto Area, and Buffalo, New York USA. This location positions local businesses REGIONAL at the heart of North America’s largest market with access to 59 million WORKFORCE: consumers across the Great Lakes region. 400,000 Niagara Falls is also home to a number of international businesses, spanning a broad range of industries. Major players include Post Foods, Canadian Niagara Hotels, Solvay, Constellation Brands, Northern Chem. Inc., and Hatch Engineering, just to name a few. MILLIONS OF DOLLARS IN INVESTMENTS Every year, Niagara Falls supports key investments made by both the public and private sectors. This ongoing activity speaks directly to the significant opportunities that investors and businesses seek in the community. Recent examples of this activity include: • Solvay, a Fortune 100 chemical and technology company, which recently invested $175 million in the expansion of its Niagara Falls manufacturing plant. • The multimillion dollar redevelopment of the Loretto Academy, into new residential condominium towers ridge overlooking the majestic falls. • A $100 million investment by CITC Asset Management in the Paradise Project, a larger $1 billion initiative by GR CAN Investment to create both tourism infrastructure and new residential developments. AVAILABLE ACREAGE… PRIMED AND READY FOR EXPANSION Centrally located in the Golden Horseshoe, Niagara Falls has acres of golden opportunity, primed and ready for business growth & expansion. The City of Niagara Falls knows that its success and competitiveness is dependent on having the lands and infrastructure to support growth. It has recently prepared more than 60 acres of industrial lands at the Montrose Business Park. In fact, Niagara Falls has 860 acres of available potential future employment lands. This includes 120 acres of ready employment lands and 745 acres of developable lands. This gives the community a unique opportunity to collaborate with businesses and industries looking to locate or expand into greenfield development sites in a truly binational marketplace. IMAGINE… LOVING WHAT YOU DO & LOVING WHERE YOU DO IT Niagara Falls is a sought after stay-cation destination. You invest a great deal of time and resources in your business. Now, imagine… A time-out to recharge, relax, and play, in your hometown city. Sound refreshing? Niagara Falls is the perfect work / life balance, with a plethora of world-class choices. For those who live and work in Niagara Falls, a stay-cation experience is just steps away. Whether looking for a fun night out on the town, an exciting experience at one of the City’s two world-class casinos, a round of golf at an internationally- renowned golf course, or a tasting experience at one of the region’s 100+ wineries, there is something for everyone. The community’s defining feature is Niagara Falls itself. More than 14 million people visit the Canadian Falls each year, making it one of the most famous tourism destinations in the world. Hornblower Niagara Cruises takes visitors right to the foot of the Falls for a spectacular (and wet!) 13-story view from below. GET ACCESS TO NORTH AMERICA’S LARGEST MARKETS PROSPECTS Imagine the benefits of reaching millions of new customers, from one of the most internationally accessible locations in the Province… N Niagara Falls is a global marketplace destination with a direct, same day market area of over 150 million 401 Toronto consumers. Locating in Niagara Falls gives your busi- Mississauga ness an advantage as a global world competitor due to its strategic geographic location on the United States border and less than an hour’s drive from Toronto and Greater Toronto Area (GTA). Oakville Strategic location advantages in Niagara Falls Burlington include: 403 • Ontario’s extensive 400 series highways and I-90 Stoney Creek Niagara District Airport corridor through the United States St. Catharines Hamilton Lewiston 405 • Five airports within a 90-minute radius Niagara • The St. Lawrence Seaway commercial waterway Falls 190 • Commercial and passenger rail crossings connecting the United States and Canada. Buffalo • Four bridges connecting Niagara Falls to the United States • Queeston-Lewiston 90 • Whirlpool • Rainbow • Peace The Niagara Falls marketplace has shown positive annual economic growth in all industry sectors based on locational advantages and proximity to major commercial markets, and provides a world renowned, first class travel and tourism destination. The possibilities are endless in our community. SMOOTH CONNECTIONS BY ROAD, AIR, WATERWAY, & RAIL To and from Niagara Falls, you and your customers will enjoy the ease of acces- sibility that comes from a Niagara Falls-based business, making the economic possibilities endless. ROAD Niagara Falls is connected to major North American Markets through an extensive highway system that includes Ontario’s 400 series highways and the Queen Elizabeth Way (QEW), and I-90 Corridor providing access to much of the United States’ eastern seaboard. Businesses in Niagara Falls can reach more than 2,000,000 consumers in less than an hour by road, making the city ideal for logistics, distribution, retail and even service industries. AIR The City has access to five airports within a 90-minute radius, including: • Just-in-time delivery and private jets at the Niagara District Airport • Cargo service in John C. Munro International Airport (Hamilton, ON) • Niagara Falls International Airport (Niagara Falls, NY) • Major national and international passenger connections through Buffalo Niagara International Airport (Cheektowaga, NY) and Pearson International Airport (Toronto, ON) Pearson is Canada’s largest and busiest airport, and the fourth largest entry point into North America. Its 1,200 daily flights to destinations around the globe give Niagara Falls direct access to the global economy. WATERWAY The St. Lawrence Seaway, and the Great Lakes form a 3,700 km marine highway that directly links the industrial heartland of North America to Europe and the world. • 41 ports serve as key nexus points connecting to roadways and rail lines • The majority ports are closer to European markets than East Coast or Gulf ports. • Goods transported by water in North America is valued at over $300 billion annually • Shipping generates more than $4.3 billion in personal income and $3.4 billion in transportation-related revenue annually RAIL This City has access to CP and CN rail lines for passengers and freight. The Via Rail train station downtown offers regular train travel to Niagara Falls. During the summer tourism season, GTA travellers can visit Niagara using either GO Transit’s Niagara Tourism Train or Via Rail’s Bike Train. Both services can accommodate bicycles, allowing riders to enjoy the many cycling routes available throughout the Niagara region. DEDICATED TO BUILDING A WORKING CITY The City of Niagara Falls is working hard to ensure it remains a competitive place for businesses. This includes meeting the needs of existing businesses, but also attracting businesses to the area to support continued economic growth and prosperity. ENTER THE ECONOMIC GATEWAY ZONE & REAP THE BENEFITS Niagara Falls is a part of Niagara’s “Economic Gateway Zone,” a unique incentive program that capitalizes on the community’s border location. The Economic Gateway Zone program provides financial support to investors, businesses, and property owners who revitalize, strengthen, and diversify Niagara’s economy.
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