3 reasons why Moncton is a good place to invest
1) Moncton is on the move.
2) A vibrant, diverse economy with quality jobs
3) Growing population means more disposable income and increased demand for homes.
The city of Moncton has a lot to offer investors when they decide to make this east coast city their home. The city’s growing population, diverse economy and aggressive markets are just a few reasons why Moncton is a great place to invest.
Moncton’s economy is one of the strongest in New Brunswick, with New Brunswick Economic Development reporting strong growth in the first nine months of 2018. Employment grew by 2.1 per cent year-over-year and average weekly earnings for full-time workers reached $1,191 for the first nine months of 2018.
The strong labour market has resulted in additional revenue for employees who have benefited from an increase in hours worked. Approximately 60 per cent of the residents are employed .
With the shift from base metals to more consumer-driven industries, Moncton’s economy is more diversified. The city is home to a wide range of companies (some of which are listed on the TSX and some not), including:
The city of Moncton also has world-class education facilities and supports significant research activity, with the University of New Brunswick (UNB), St. Thomas University and the Moncton campus of Irving University making up over 10 per cent of university students in New Brunswick. The UTIC Moncton Campus at St.
Overall, Moncton has some of the most competitive market prices in Canada, with an average price of $257,900 for a single-family home and $145,000 for a condominium.
The increase in population has also meant more disposable income for residents. As of 2017, Moncton has the highest median net worth ($304,029) among Atlantic Canada’s five largest cities. This can be attributed to the high concentration of educated and semi-professional workers who contribute to sustained consumer spending and lead to higher real estate values and increased demand.
Moncton is a great medium-sized city with plenty of excitement! With around 120 multinational companies and over 8,800 businesses in the Moncton region, Moncton is one of New Brunswick’s busiest economic centres.
But how good is it for business? What about quality of life? What are the opportunities for investment? If you want to know more about this and other topics related to starting a business in Moncton, keep reading.
Buy Photo The city is known for being a great place for young people to live, work and play. (Photo: Alistair Steele/For the Chronicle)
• Moncton is a great place to live, work and play. It’s a hub for many things, from healthcare to IT. Many companies have moved or expanded here because of the quality of life and because they know they can rely on the lead-time of local access routes, which are often faster than other options.
• Moncton’s number-one sector is health care. But it also offers advanced manufacturing, computer hardware and software engineering, film production and telecommunications services.
• As a business owner in Moncton, you have access to more public funds for skills development training.
• With about 120 multinational companies in the Moncton region, it’s easy to find markets for your products and services. 58% of businesses are involved in exporting. They focus on the U.S., Canada, Europe and Japan.
• Case studies from other small business owners will help you get started on planning your business.
Quality of life
• People can enjoy a great quality of life in Moncton. The city is known for being a great place for young people to live, work and play.
• Moncton has a low crime rate. Its residents enjoy one of the lowest homicide rates in Canada.
• You can take advantage of an excellent healthcare system, access to quality post-secondary institutions and leisure activities that are in tune with your interests.
• Moncton is also a hub for many recreational activities and sports teams: hockey, curling, cycling and more! There’s something for everyone here.
• Want to invest in the Moncton region? The city offers plenty of room for expansion. On average, there are at least 20 vacant acres per business park.
• There is lots of space for industrial parks in the Moncton area.
• The city offers a great deal on commercial properties due to its location. It’s within 10 kilometres from several major centres, including Fredericton, Saint John, Halifax and Bathurst. The north-east is also close enough to serve as a hub for distribution and logistics.
• The rate of development in Moncton is one of the highest in New Brunswick, and it’s steadily growing.
• Moncton is a gateway to the Atlantic region. It’s a great base to do business in Atlantic Canada. But even more than that, it’s a good investment for any entrepreneur who plans to expand his or her business into the US and beyond.
If you’re interested in starting a business in Moncton, it’s important to find out what you need to do to get started.
• You need to find the right economic development advisor for your business. The most effective advisors will guide you along the way and help you get the funding that you need.
• You can do this by visiting the New Brunswick Business Hub website. It’s a one-stop shop for resources, events and services related to starting a business.
• There is also a network of business advisors in the Moncton area, who can help you get the space and funding that you need to get started.