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Economic Indicators

We believe Sidney is one of the most desirable places in the world in which to live and invest. Our business community is thriving, thanks to strong Provincial incentives, comparatively low business costs, the lowest unemployment rates in Canada, and gateway access to world trade. With an average GDP growth of 3.5 % over the last four years, British Columbia's economy remains strong and consistent across economic sectors.

At the Municipal level, the Town continues to revitalize the downtown core and foster growth and innovation for the specialty manufacturing companies in our West Sidney Industrial Park. With the establishment of the Economic Development Commission, the Town strives to connect employers with a skilled workforce, forge strategies for affordable workforce housing, and develop new tools, such as the Downtown Retail Gap Analysis, to continually strengthen our local economy.

 

Business Trends

Sidney is predominately made up of small businesses, defined in Canada as having less than 100 employees. Representing Sidney's largest segment are companies with less than 9 employees, with 53.4 % of local businesses made up of between 1 and 5 employees.

The Downtown Retail Gap Analysis provides a snapshot of how Sidney's population is served by these business segments, and identifies categories that may be over and under served. The study includes demographic trends, spending trends, and retail opportunities now and in the future.

 

Taxes

These graphs outline corporate and personal income tax rates at both the Federal and Provincial level, with rates current as of 2017. To help you calculate projected business costs, we have also included the Town of Sidney's municipal tax rates, broken down by business sector.

Provincial Corporate Tax

 

Federal Corporate Tax

 

Provincial Personal Income Tax

 

Federal Personal Income Tax

 

Town of Sidney Municipal Tax Rates, by Property Class

 

Tourism

In 2017, Sidney's visitor services welcomed over 40,000 tourists to the Town. Our tourism industry enjoys close proximity to the Swartz Bay Ferry Terminal, the Anacortes Ferry Terminal, and the Victoria International Airport, which welcomed a record 1.93 million passengers in 2017.

For more information on Sidney's tourism industry, please visit the Sidney Business Improvement Area website.

 

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