Living costs in Thunder Bay are a fraction of what they would be in Toronto or Vancouver.
The lower cost of living is what attracts many newcomers to Thunder Bay.
Thunder Bay is a large city with many attractions, although it is less expensive than Toronto or Vancouver. According to RE/MAX, Thunder Bay is one of Canada’s most affordable property markets.
Thunder Bay is the Northwest’s gateway, combining metropolis and small-town life. It focuses on accepting people from various backgrounds and celebrating cultures. It also has many First Nations and Indigenous communities.
Thunder Bay offers incredible amenities for a community of its size. It’s also one of the cleanest and greenest places in Canada. The city promotes a clean, green, beautiful, healthy city that offers economic opportunities, respects diversity, and has safe, affordable neighborhoods.
Thunder Bay offers a laidback, community-style lifestyle with an emphasis on family and balance. The area is popular for sailing, skiing, hiking, and being outdoors.
In recent years, Thunder Bay has focused on accepting diversity and new immigrants. Three YouTube films of immigrants and their thoughts on migrating to Thunder Bay are a wonderful resource for learning immigrant life in Thunder Bay.
Traditional Sectors in natural resources industries
Traditional sectors in natural resource industries and manufacturing are successfully blending with new and evolving knowledge, education, and healthcare sectors, creating a balanced and diversified local economy.
There is a world of employment possibilities to be discovered outside of the big cities. The rewarding careers, skilled trade jobs, superior nature, and lower property prices attract people from big cities towards Thunder Bay.
Thunder Bay has a broad economy and a creative atmosphere. Thunder Bay has been altered by disruptive SMEs, universities, research institutes, an international populace, and industrial revitalization. Today, Thunder Bay is home to big-name manufacturers, local businesses, creative studios, and public sector leaders.
With an average commute time of 10 minutes, a lower cost of living and a growing economy, more workers are finding exciting careers in Thunder Bay. From electricians and plumbers, to accountants and healthcare professionals, well-paying employment opportunities are available in varied sectors. That’s why thander Bay is the most affordable place to live in Canada.
CEDC team
Our Thunder Bay CEDC team is available to help you identify new business opportunities, find the right property or land, recruit the best talent, access business incentives and get reliable local advice.
With competitive land and construction costs and zero development charges, Thunder Bay is an ideal location for expansion and new construction. The city has a large amount of land zoned for new development, offering commercial, industrial, and aviation space at a low cost. Our downtown urban areas also offer mixed-use and commercial property for new and existing businesses. We also provide construction sites to small and medium-sized developers on a regular basis.
Many well-known and profitable businesses are available for purchase from existing owners who are ready to retire and are looking for the right person to take over.
Buying a business has a number of advantages over starting a business from scratch. Buyers enjoy an established client base, steady cash flow, a proven track record, existing senior management, current processes, and a record of past business profitability. The risks of buying a business are much lower than the risks of starting a new business.
The Business Immigration and Investor Program allows a qualified applicant to enter Canada as a Permanent Resident (PR) by purchasing or investing in a qualified Canadian business.
With no development charges, and affordable cost of land, Thunder Bay offers prime real estate for development.