Comparison Of Waterloo And Kitchener In Ontario

Waterloo and Kitchener are cities in the Ontario, Canada. These two cities are adjacent to each other and sometimes collectively known as “Kitchener-Waterloo” but they have separate city governments. Waterloo economy is based on the knowledge and service share. Economy relies on financial institutions, Manufacturing and technology sector along with universities in the area. The three big think tanks are based in the area, which are ‘institute of theoretical physics’, ‘institute of quantum computing’ and ‘international governance innovation’. There are number of technology companies in the area as well as insurance companies in the area. The three largest employee of the area are Manulife financial, university of waterloo as well as sun life

The two cities collectively consider as more innovative and companies in the area have plenty of high-skilled and stable workforce. The area has more than 1000 technology companies in the area and has lowest Research and development tax in the area. Patents granted in the area are four times when to national average of the Canada. The net export in the region is more than $ 11 billion as well as GDP have surpassed $27 billion. The major strength of the area is information technology, automotive, aerospace as well as financial services. One of the major strength of the area is from Waterloo University, which has contributed $1.5 billion to economy as provide high quality research for the business. A recent survey has shown 72% of the business recruit and rely on UW graduates. The labor force of the area is 776 thousand, out of which 725 are employed and make unemployment rate of 6.6 %. The average value of the dwelling in region is $325,000 with population estimated at 13, 26 thousand. (Ontario Chamber of Commerce, 2014)

When compare to other town of the area Kitchener waterloo have high employment rate after Toronto and almost double employment opportunities when compare with Kingston or London. The employment growth is also high in the area when compare to other two of the Ontario and employment growth rate in the area is 1.4%. The growth is higher when compare with towns in the area as Kingston

The outlook of the region is based on increase export from the region and expected increased by 7.3% over the coming years. Region is expected to export electric consumer goods, as well as industrial equipment with expected growth of 15% in coming years. The region rely on the manufacturing and transportation sector and expected to be grow at rate of 7.5% in coming