Published on August 4th, 2022 at 08: 00am EDT
The lower cost of living is what attracts many newcomers to Thunder Bay.
Although still an urban area with many amenities that you can expect in a larger city, Thunder Bay is a very affordable place to live when compared to larger cities like Toronto or Vancouver. Thunder Bay is ranked by RE/MAX as one of the most affordable housing markets in Canada to find your dream home or condominium.
Thunder Bay is the gateway to the Northwest and offers a mix of city life and a small-town feel where community matters. It focuses on welcoming individuals from diverse backgrounds and celebrates cultures. It is also home to many First Nations and Indigenous communities.
Thunder Bay offers incredible amenities for a community of its size. It also happens to be one of the cleanest and greenest cities in Canada and promotes a clean, green, beautiful and healthy community that provides economic opportunity, respects diversity, and offers affordable and safe neighborhoods that are accessible to all.
Thunder Bay offers a laidback community-style lifestyle with an emphasis on family and balance. The region is known for its lush nature and outdoor activities like sailing, skiing, hiking, and being in the great outdoors.
In the recent past, there has been a focus on welcoming diversity and new immigrants to Thunder Bay and there are three YouTube videos of immigrants and their views on moving to Thunder Bay that is an excellent resource for understanding living in Thunder Bay from an immigrant’s perspective.
Traditional sectors in natural resource industries and manufacturing are successfully blending with new and evolving knowledge, education and healthcare sectors, creating a balanced and diversified local economy.
There is a world of employment possibilities to discover outside of the big city. Rewarding professional careers, skilled trades jobs, superior nature and lower property prices are attracting more people from large cities to work in Thunder Bay.
It is rare to find a diverse economy with a climate for innovation in smaller cities but Thunder Bay has it! Disruptive SMEs, several universities, world-leading research institutions, an international population and industrial regeneration have transformed Thunder Bay in recent years. Today, Thunder Bay is home to big name manufacturers, local businesses, creative studios and public sector leaders.
With an average commute time of 10 minutes, a lower cost of living and a growing economy, more workers are finding exciting careers in Thunder Bay. From electricians and plumbers, to accountants and healthcare professionals, well-paying employment opportunities are available in varied sectors.
Our Thunder Bay CEDC team is available to help you to identify new business opportunities, find the right property or land, recruit the best talent, access business incentives and get reliable local advice.
With competitive land costs, construction costs and zero development charges, Thunder Bay is an ideal location for expansion and new construction. The city has a large amount of land zoned for new development, offering commercial, industrial and aviation space at low cost. Our downtown urban cores also offer mixed-use and commercial property suitable for both business start-ups and expansions. We also regularly market development sites to small and medium developers.
Many well-known and profitable businesses are available for purchase from existing owners who are ready to retire and are looking for the right person to take over.
Buying a business has a number of advantages over starting a business from scratch. Buyers enjoy an established client base, steady cash flow, a proven track record, existing senior management, current processes, and a record of past business profitability. The risk associated with buying a business are much lower than the risks of starting a new business.
The Business Immigration and Investor Program allows a qualified applicant to enter Canada as a Permanent Resident (PR) by purchasing or investing in a qualified Canadian business.
With no development charges, and affordable cost of land, Thunder Bay offers prime real estate for development.
You are welcome to review more resources below to help inform your decision on calling Thunder Bay your new home!