No Matter How You Look At It, Moncton's Looking Good!
Strategic planning, action, and follow-through pay off big in one Canada's highest ranking business destinations.
Nothing says success and growth like a consistent steady climb, with little fluctuation. Of course, there is always a degree of fluctuation. Huge highs are very impressive, but the lows can sometimes be devastating. The true testament to a community's resilience is sustained growth, even in moderation, and even in uncertain economic times.
Moncton has demonstrated its resilience and sustainability quite effectively over the last couple of decades.
Looking at third party reports gauging economic feasibility and potential for prosperity, Moncton makes the list every time. Reports like KPMG's Competitive Alternatives Study or Canadian Business Magazine's annual rankings for Best Canadian Cities for Business evaluate and rate comparable cities, and Moncton is consistently featured among the best. Last year, Moncton was included in the list of 21 smart cities worldwide as awarded by the Intelligent Community Forum, cities such as Edmonton, Alberta; Albany, New York; Riverside, California; Gold Coast City, Australia; and several others spanning 12 nations and ranging in populations from 17,000 to 2,000,000. Even better, in January, 2009 this list was pared down to the top seven Intelligent communities and Moncton was there along with cities such as Stockholm, Sweden and Tallinn, Estonia.
Cities are typically rated on things like labour costs, resources, accessibility, and infrastructure. There are many ways to measure a city's success, and if you play around with the evaluation criteria, you might get a different result. A city ranking highly on infrastructure might rate poorly on accessibility and find their overall rating lowered due to a poor showing in that single category. Different reports have different rating criteria. For instance, if a city was ranked solely on residential or commercial development, you might look at building permit applications as a measure of growth, but if you are ranking a city in terms of cultural diversity and immigration, the results will be different. Depending on the report date, fluctuation in currency rates can also affect how we appear to rank in the cost categories. They are intended to give a broad overview, based on annual averages.
The point is that among the many independent studies and reports, and all the variables in criteria and ranking data, Moncton maintains a steady showing, which is an indication of consistent steady growth in several diverse areas.
It's not always just about the numbers. Businesses also want to choose a location that welcomes change, and thrives at the community level.
So, for an outsider looking in, what makes Moncton such an attractive place to set up shop? Contributing factors include Moncton's location and accessibility. We also boast affordable labour, and steady industrial development. Peeling away the layers and looking at the inner workings of this city reveals a palatable energy driven by the people, the families, the community, and the culture.
Moncton's rise after the closure of the CN shops and regional offices in the 1980s is an example of this community's ability to face challenges head on to create new opportunities. In the face of such challenges, evolution thrived, and Moncton took hold of the reigns and forged forward with advancements in in many sectors while also keeping the transportation industry alive as one of our greatest resources.
The city has an excellent track record for keeping its own system for measuring growth, evaluating our success as we progress, and applying lessons learned to future planning. Taking responsibility today for the Moncton of tomorrow, this city achieves nothing by accident. A careful, ongoing evaluation of past, present, and future development is at the root of our advancement.
The key to Moncton's success? The same approach used by the businesses we strive to attract; bold but calculated risk-taking, backed up by knowledge, planning, and commitment, and a vision to long-range success.Previous