Economy
| Industry | People employed |
|---|---|
| Agriculture and other resource-based industries | 820 |
| Manufacturing and construction industries | 12,200 |
| Wholesale and retail trade | 13,995 |
| Finance and real estate | 7,990 |
| Health and education | 9,960 |
| Business services | 16,925 |
| Other services | 9,850 |
According to the town's website as of 2011, Richmond Hill is an affluent community with more than 52% of families reporting incomes of greater than $70,000 and over 31% of households reporting incomes greater than $100,000. The average household income in Richmond Hill is $100,900 which is 34% higher than the Canadian average and 26% higher than the provincial average. Based on the 2006 Census, 42.62% of families in the Town of Richmond Hill earned over $100,000 and over. The employment rate of the town is 66.36% with the most prevalent occupations being in the business, finance and administration and management sectors. The 2006 Census showed that the unemployment rate is very low at 3.77%, compared with the 7.4% unemployment rate across Canada during the time of the Census.
The 1990s and 2000s are a period of strong economic growth for Richmond Hill; In 1999 industrial, commercial and institutional growth was valued at $88.9 million, up from $67.9 million in 1998. The economic growth of 1999 won the town's economic development department three provincial awards from the Economic Developers Council of Ontario. The border between Richmond Hill and Markham is a rapidly growing area for information technology and high-tech industry with over 1,000 such businesses located along their border in 2000.
Most business in Richmond Hill are small businesses, with more than half of all employers in the town having four workers or less. The town is home to the corporate headquarters of Acklands Grainger Inc., Compugen Inc., Compuware, DMC Mining Services, Lexmark, Rogers Communications, Science & Medicine Canada, and Staples Business Depot.
| Employer | York Central Hospital | Apotex | Bulk Barn Foods |
|---|---|---|---|
| Employees | 960 | 800 | 600 |
Read more about this topic: Richmond Hill, Ontario
Famous quotes containing the word economy:
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)