NEWS RELEASE
CITY OF GUELPH
*************************
The Conference Board of Canada, a national, independent research organization, reported that real gross domestic product (GDP) for the Guelph region grew by 3.6 per cent in 2018 placing it as the highest among medium sized cities in Canada. The Guelph region includes the City of Guelph, and Guelph/Eramosa and Puslinch Townships.
The Metropolitan Outlook 2—Summer 2019 report states that Guelph has experienced strong economic performance in recent years and is expected to remain a national leader in economic growth.
The report also states that Guelph’s economy has grown at a brisk pace over the last five years expanding by an average of 3.5 per cent per year. And, although economic growth is poised to moderate, it will remain healthy coming in at 2.5 per cent this year and 2.1 per cent in 2020.
“This report once again highlights Guelph as a national leader in economic growth that continues to outpace the provincial and national average,” says Tyson McMann, Business Development Analyst for the City of Guelph. “This is a testament to the strength and competitiveness of the City’s local business community.”
The Conference Board’s report highlights the continued economic growth of Guelph’s manufacturing sector, noting growth averaging 5.9 per cent over the past five years and an expected growth of 4.2 per cent this year. The economic success of the manufacturing sector directly contributed to 1,060 net new jobs in the Guelph region for 2018—a 6.3 per cent increase from 2017.
“Guelph’s diverse economy and prime location in the Greater Golden Horseshoe region have insulated the region from large swings in economic activity, contributing to healthy population gains and allowing it to boast the fastest growing economy in 2018 among the 29 census metropolitan areas covered in the Metropolitan Outlook reports,” says Constantinos Bougas, senior economist for the Centre for Municipal Studies at the Conference Board of Canada. “Although economic growth is poised to moderate in 2019, Guelph will maintain its place as one of Canada’s economic growth leaders.”
With its strategic location and strong economic growth, Guelph continues to be a location of choice for business investment and site selection.
*************************
