Contact: Daniel Olding, Manager, Grants & Strategic Initiatives, 905-771-5505, daniel.olding@richmondhill.ca

 

RICHMOND HILL – Richmond Hill was named the sixth most lucrative place in Canada to do business by PROFITGuide.com. 

 

“Richmond Hill really is the smart place for business and it’s nice to be recognized for all we have to offer the business community,” said Mayor Dave Barrow. “Our goal is to help new and existing businesses thrive.”  

 

PROFITguide.com describes the most lucrative places to do business as “the best combination of a large and growing population, high household incomes and high educational attainment – making them highly desirable for retail, financial and other service businesses that cater to a localized market.”

 

Richmond Hill’s population has grown to 207,709 with an average household income of $108,025. Richmond Hill’s highly-educated community provides the skilled employees that any business needs. Of residents aged 25-64, 77.3% have a post-secondary degree. 

 

Richmond Hill is part of Canada’s largest technology cluster, with access to top incubators and investors. The Town’s other key sectors are professional, scientific and technical services, finance and insurance, healthcare, information and cultural industries.

 

The Town hosts two major business development events each year. The MedEdge Summit, focuses on medical-technical businesses, and the Creativity Connected Symposium, is aimed at all types of creative sector businesses. At the sixth annual Symposium on November 8, 2016, Richmond Hill will present the first annual Creativity Connected Awards to recognize creative accomplishments among local business and residents.   

 

PROFIT is Canada’s leading media brand dedicated to entrepreneurial business. It includes PROFITguide.com and PROFIT Magazine. 

 

The Canadian Business Best Places for Business relies on a mix of self-reported municipal data and independent demographic and market data. Market indicators factored into the ranking of Canada’s Most Lucrative Markets were population, population growth, population within a one-hour driving distance, median household income, percentage of residents with a university degree, percentage of residents with a bachelor’s degree, unemployment rate and value of annual building permits issued.