In addition to a highly skilled talent pool, strong education system, great location, and quality of life, here are some additional key advantages that make Canada and Simcoe County a top destination choice for investments.
Competitive Business Costs
In Ontario, businesses benefit from highly competitive business costs that can boost a company's growth and profitability. In 2016, KPMG rated Canada as the most cost-competitive G7 country in which to do business, with 14.4% cost advantage over the United States as shown in the graph right.
At the national level, Canada's average business costs compared to the U.S. are even lower in knowledge-based areas, at 27.7% in R&D Services and 26% in Digital Services. More specific to Amazon's activities, Canada offers a 22% to 30% cost advantage over the U.S. in key sectors.
With a total combined provincial and federal (15%) corporate income tax rate of 26.5%, Ontario's combined general federal-provincial Corporate Income Tax (CIT) rate is lower than the average of G20 countries and lower than the average federal-state CIT rate in the United States.
Lower Real Estate Cost
As the pace of development, congestion and land values continue to rise in the Toronto Region, development is increasingly migrating north to lower-cost communities such as Simcoe County.
According to a Deloitte Research and Value Proposition Study in 2017, the average commercial price per acre ranged between $50,000 - $1,300,000 for Simcoe County and $440,000 - $22,930,000 for selected municipalities in Toronto region. The lower real estate costs further translate into lower development charges and lower property taxes for businesses in Simcoe County.
Maternity and Parental Benefits
The Government of Canada through Employment Insurance benefits provides maternity and parental financial benefit coverage of biological, surrogate and adoptive parents. Maternity benefits are available to biological and surrogate mothers for 15 weeks after giving birth to their child(ren). Following maternity benefits, the biological or adoptive parents are able to take a combined total of 35 weeks paid parental leave paid by Employment Insurance to provide primary caregiving to their child(ren). All costs associated with these benefits are covered by the federal government.
Ontario Health Insurance Plan (OHIP)
The Ontario Health Insurance Plan (OHIP) is a government-run health insurance plan that provides universal health care to all residents of the province.
According to the 2016 Competitive Alternatives Report by KPMG, Canadian employers pay on average 25% of payroll in health care costs and benefits, compared to 37% in the U.S.
Breakthrough concepts and technologies can come to life in Ontario. We've built one of the most supportive environments for R&D and dynamic ecosystems for innovation on the planet.
- Almost half of Canada's full-time R&D personnel are in Ontario, where more than $14 billion is spent annually on R&D.
- Five of the top ten corporate R&D spenders in Canada have made Ontario their headquarters location.
- Ontario is an internationally recognized technology hub, with more than 20,000 tech companies and more than 280,000 employees.
Simcoe County welcomes Amazon to our region.
Amazon will find a diverse and growing workforce with the talent, knowledge and skill sets required to succeed in Simcoe County.
Simcoe County provides easy to use public transportation systems, along with high capacity road network, that is critical to Amazon’s success.
As well as being a great place to live and work, Simcoe County is Ontario’s four-season outdoor playground.
Additional key advantages that make Canada, Ontario and Simcoe County a top destination choice for investment.
We can tell you all about Simcoe County’s great outdoors and culture, but let us show you instead.