A Snapshot of Ottawa : Business Perspective
Ottawa is increasingly becoming a high-tech hub, and remains the centre for federal government departments and adjacent industries. With the growing number of companies selecting Ottawa as their HQ, we thought it would be valuable to check in on the facts and stats about Ottawa as a place to do business.
Total Value: If Ottawa was a country, it’s GDP would exceed $40B. That economy is generated through 500,000 jobs by 25,000 employers.
Workforce: The two largest employers are high-tech and federal government which both account for approximately 20% of the Ottawa economy each. The remaining 60% is much more diverse with trade, finance, real estate, insurance, health and education all taking significant shares.
Building Permits: A major indicator for a city’s economic success is the dollar value of building permits issued each year. The National Capital region permit value for the last 12 months was $3.3B. $2.6B of those permits were issued for the Ont. side of Ottawa and $656M were issued for the Que. side in Gatineau. Building permits have increased in value tremendously, from $2.24B in 2005 and $500M in 1995.
Venture Capital: In 2016 there were 2 venture capital deals each month in Ottawa, totalling $109M. Ottawa ranked 5th in Canadian cities based on amount of deals and total $ value.
Accelerated Economic Growth: The Conference Board of Canada has forecasted that Ottawa’s economy will grow 2.3% in 2017 – an increase from the 1.7% growth in 2016.