Winnipeg - Economy

Economy

See also: List of corporations based in Winnipeg

Winnipeg is an economic base and regional centre. It has a diversified economy, covering finance, manufacturing, transportation, food and beverage production, industry, culture, government, retail, and tourism. In 2011, The CIBC Metropolitan Economic Activity Index has rated Winnipeg's economy as third place in a national survey of 25 city economies, behind only Toronto and Kitchener, Ont. According to the Conference Board of Canada, Winnipeg has the third-fastest growing economy among Canada's major cities in 2009 projections, with a real GDP growth of 2.5 percent.

As of July 2010, approximately 409,500 people are employed in Winnipeg and the surrounding area. Some of Winnipeg's largest employers are government and government-funded institutions, including: The Province of Manitoba, the City of Winnipeg, the University of Manitoba, the Health Sciences Centre, and Manitoba Hydro. Approximately 54,000 people (14% of the work force) are employed in the public sector. Large private sector employers include: Shaw Cablesystems, Manitoba Telecom Services, Ipsos Reid, Palliser Furniture, Great-West Life Assurance, Motor Coach Industries, New Flyer Industries, Boeing Canada Technology, Bristol Aerospace, Nygård International, Canad Inns and Investors Group.

The Royal Canadian Mint, established in 1976, is where all circulating coinage in Canada is produced. The plant, located in southeastern Winnipeg, also produces coins for many other countries.

In 2006, Winnipeg was ranked by KPMG as one of the least expensive locations to do business in Canada. As with much of Western Canada, in 2007, Winnipeg experienced both a building and real estate boom. In May 2007, the Canadian Real Estate Association reported a record-breaking month in Winnipeg in terms of sales and volume.

Read more about this topic:  Winnipeg

Famous quotes containing the word economy:

    “Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
    —Alexander Herzen (1812–1870)

    “Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
    —Ralph Waldo Emerson (1803–1882)

    “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)