In business expansion, numbers tell an important story – but finding the right data isn’t easy. That’s where we can help. We’ve gathered all the key insights into one easy-to-read resource.
Choosing the right location for your manufacturing operations requires careful analysis. Our Data Book provides the essential comparative data you need, allowing you to evaluate hubs like Waterloo, Toronto, Pittsburgh, Charleston and Detroit.
Download our Manufacturing Data Book to explore comprehensive data on 11 of North America’s top manufacturing communities and start creating your very own expansion success story today.
The tale of talent
Located in Canada’s largest manufacturing corridor, the Waterloo region is home to the fourth-largest manufacturing workforce in the country. Our workforce totals 50,631 – an impressive figure for our mid-sized community. Waterloo also leads in talent concentration, with 14% of our workforce employed in manufacturing, compared to Detroit’s 9.8%.
But that’s just part of the story. When you combine Waterloo and Toronto’s manufacturing workforce, you get access to over 357,000 skilled workers within a one-hour drive. This makes the Toronto-Waterloo Corridor the largest manufacturing talent pool, surpassing even major hubs like Detroit (262,353) and Cincinnati (124,485).
Waterloo’s manufacturing workforce is further fueled by world-class engineering talent. The University of Waterloo’s engineering program, ranked in the top 40 globally, fills our talent pipeline with bright young minds. With 10,654 engineering students, UWaterloo is Canada’s largest engineering program, ensuring a continuous supply of skilled talent for the future.
| Total Manufacturing Workforce | Concentration | Growth (5-year) | |
|---|---|---|---|
| Waterloo* | 50,631 | 14% | 6% |
| Toronto* | 307,901 | 8% | -5% |
| Pittsburgh | 88,236 | 6% | -2% |
| Detroit | 262,353 | 9.8% | -3% |
| Charleston | 32,809 | 6% | 12% |
| Charlotte | 118,652 | 6.5% | 1% |
| Cincinnati | 124,485 | 8.5% | 1% |
| St. Louis | 121,420 | 6.6% | 0% |
| Indianapolis | 101,185 | 7% | 6% |
| Louisville | 82,633 | 9.4% | 1% |
| Nashville | 90,786 | 5.7% | 2% |
* Combine Waterloo and Toronto to get an approximation of the talent available within a one-hour drive
The demographics anecdote
Marcos Machado, the Executive Director of Meta IT North America, captured it perfectly when he said, “Waterloo is famous for the quality of people and the quality of education.”
At 3.7%, our overall population growth is leaps and bounds ahead of the competition. Our region is the fastest-growing community in Canada, outpacing bigger communities like Calgary, Edmonton and Vancouver.
More specifically, the populations aged 20-30 and 30-40 have grown by 21.3% and 17.2% respectively, providing a steady pipeline of young, educated manufacturing workers. With this dynamic workforce, companies that locate here have access to talent that drives innovation and long-term success.
| Overall Population Growth | Growth in Age 20-30 Demographic | Growth in Age 30-40 Demographic | |
|---|---|---|---|
| Waterloo | 3.7% | 21.3% | 17.2% |
| Toronto | 2.4% | 11.1% | 14.7% |
| Pittsburgh | 0.8% | -7.5% | 10.3% |
| Detroit | 0.5% | -2.7% | 9.2% |
| Charleston | 6.9% | N/A | N/A |
| Charlotte | 8% | 5.4% | 14.2% |
| Cincinnati | 2.7% | 1.9% | 10.7% |
| St. Louis | -0.2% | -6.3% | 2.8% |
| Indianapolis | 5.6% | 2.3% | 12% |
| Louisville | 9.1% | 4.5% | 11.2% |
| Nashville | 9.1% | 4.5% | 11.2% |
*N/A = Did not rank in this category in the CBRE Scoring Tech Talent 2024 report
The chronicle of cost
When it comes to costs, Waterloo remains one of the most competitive manufacturing hubs in North America. Labour rates for key roles such as industrial electricians, manufacturing engineers and quality control engineers are lower than in many other major hubs across Canada and the US. This cost-effectiveness doesn’t mean compromising on quality, however, as Waterloo’s workforce is well-known for being both high value AND high quality.
But that’s not all. Waterloo offers the best payroll and tax incentives, including the SR&ED tax credit, which allows companies to save up to 65% on R&D costs. Combined with the lowest tax rates among competitors and access to multiple grants, Waterloo is a top choice for businesses focused on optimizing their bottom line.
The region’s strategic location within Canada’s manufacturing corridor also brings logistical advantages. Proximity to major markets and transportation networks reduces shipping costs and improves supply chain efficiency – key factors in lowering operational expenses for manufacturing businesses.
Corporate Tax Rates
The combined federal and state/provincial tax rate for manufacturing companies.
| Corporate Tax Rate | |
|---|---|
| Waterloo | 25% |
| Toronto | 25% |
| Pittsburgh | 29.99% |
| Detroit | 27% |
| Charleston | 26% |
| Charlotte | 23.5% |
| Cincinnati | N/A* |
| St. Louis | 25% |
| Indianapolis | 25.9% |
| Louisville | 26% |
| Nashville | 27.5% |
*imposes gross receipts tax instead of corporate income tax
The quality-of-life story
Waterloo offers a rare balance of “the amenities of a big city with the cost of living and space of a smaller community,” according to Matt Rendall, CEO of Clearpath Robotics & OTTO Motors. “You end up with a tremendous value proposition in Waterloo.”
For example, the average monthly apartment rent in Waterloo is $1,950, significantly lower than Toronto’s $2,395. Plus, with an average commute time of just 22.2 minutes – compared to Pittsburgh’s 25.8 and Charleston’s 26.5 – your employees can enjoy a higher quality of life, with less time spent in traffic and more time spent enjoying life outside of work.
Average Commute Time
| Commute time (minutes) | |
|---|---|
| Waterloo | 22.2 |
| Toronto | 29.8 |
| Pittsburgh | 25.8 |
| Detroit | 25.4 |
| Charleston | 26.5 |
| Charlotte | 25.7 |
| Cincinnati | 24.1 |
| St. Louis | 24.4 |
| Indianapolis | 24.9 |
| Louisville | 22.8 |
| Nashville | 26.2 |
What’s beyond the data?
Expansion is about more than just numbers. While data analysis is crucial, understanding the full picture requires a well-rounded approach. Combining qualitative insights with quantitative data ensures you fully grasp a community’s ecosystem – its access to customers, talent and its ability to support your company’s growth over the next five or ten years.
Get started by downloading our Manufacturing Data Book to compile all the numbers you need to create your own manufacturing success story.
Our team can walk you through the data and tell you more about what the Waterloo ecosystem has to offer.