According to a new set of rankings released by the Bank of Montréal, Hamilton has been listed as the third best city in Canada with respect to labour market attractiveness. These rankings were conducted utilizing factors including median household income, job growth, house prices and rental rates.
A large reason for Hamilton’s high ranking is due to the comparatively affordable housing market and continued potential for job growth. Just last year, the professional, scientific and technical industries received $10 million in federal funding allocated to the city’s McMaster University. This federal funding is expected to result in the creation of up to two hundred jobs for the city, further boosting its attractiveness. As well, Hamilton will be undergoing a major revitalization of the west harbour, converting 5.24 hectares of the currently industrial waterfront into a vibrant mixed-use development.
As Hamilton attracts a larger workforce, demand for projects such as Greybrook’s Hamilton development with Castlepoint Investments and Andrin Homes will continue to increase, helping to further the city’s revitalization.
Learn more about BMO’s Labour Market rankings and the City of Hamilton here