Located in the centre of North America, Manitoba has one of the most stable and diversified economies in Canada. With a land size of almost 650,000 square kilometres, Manitoba is twice the size of the United Kingdom and is home to a population of 1.3 million. The Capital city, Winnipeg is home to The Forks National Historic Site, The Canadian Museum for Human Rights, The Winnipeg Jets, The Winnipeg Blue Bombers, The Winnipeg Goldeyes, and often times during the winters months it is “colder than mars” – although we have some of the warmest people in the Country, after all our licenses plates say “Friendly Manitoba”. Winnipeg is also home to CentrePort Canada – a 20,000 acre inland port in Winnipeg – offering opportunities for distribution centres, warehousing and manufacturing. Centreport’s Foreign Trade Zone program can help companies manage cash flow and inventory through deferred duties, sales tax relief and duty-free storage/distribution facilities
A Strong and Stable Economy
Manitoba’s stable economy is due to its wealth of natural resources, such as hydroelectric power and fertile farmland and its strong manufacturing base. Manitoba is a major exporter of goods around the globe. Major exports include: processed foods, vehicles and transportation equipment, pharmaceuticals and paper products. Leading export markets include the United States, China, Japan, Mexico and the United Kingdom.
- Manitoba’s Nominal GDP is expected to grow 3.7% in 2018
- Farmers in Manitoba harvested a record volume of major crops in 2017
- Manitoba all area housing starts increased 47.3 in the 3rd quarter of 2017 - #1 in Canada
- Residential building construction increased 15.3% and Non-residential building construction increased 12.1% in the 3rd quarter of 2017 – Top 3 in Canada!
- Employment increased by 10,000+ jobs in 2017
- Retail sales increased 3.6% in the first 10 months of 2017
- New motor vehicles sale increased 11.4% in the first 10 months of 2017
- Manufacturing sales increased 5.6% in the first 10 months of 2017
- Wholesale sales increased 7.8% in the first 10 months of 2017
-- source: Manitoba Finance, Economic and Fiscal Analysis Branch
Low Costs = Higher Returns
Manitoba has some of the lowest business costs North America. Winnipeg is a cost leader in Aerospace, Automotive, Chemicals, Electronics assembly, Medical devices, Pharmaceuticals, Precision manufacturing and Telecommunications.
- The Province of Manitoba offers competitive tax rates and tax credits for investment in manufacturing equipment and R&D
- Electricity costs in Manitoba that are among the lowest in North America
- Manitoba has numerous affordable industrial land and office opportunities
Strong consumer confidence drives in everything from housing starts to retail expansion. That confidence stems from job growth in Winnipeg, and also from the booming smaller cities of Brandon, Winkler, Morden, Steinbach and Portage la Prairie. French-based Roquette has begun construction on a new $400 million pea processing plant in Portage la Prairie. It will be the largest plant of its kind in the world and one of the largest private-sector investments in the history of Manitoba
Manitoba will continue to see steady growth in 2018
People around the world are investing in Manitoba. The attractive Canadian dollar and its central North American location, make Manitoba an ideal investment choice. We are a traditional centre of commerce and have been for decades with the advent of both major railways coming through here. We have a 24-hour international airport and a solid, reliable workforce.
With political and economic instability affecting Asia, Africa, Europe, Middle-East, and South America, more and more family offices are turning to Canada and developing relationships with Shindico in an effort to add Canadian real estate to their investment portfolios.
As a proud Manitoban, I am excited to be the 2018 Chair of the Winnipeg Real Estate Forum which will be held on Wednesday, May 30th at the RBC Convention Centre. To find out more information on the forum or to register please visit the Winnipeg Real Estate Forum website.
Sandy G. Shindleman, CCIM, SIOR, FRICS
President & CEO