Thunder Bay's Diverse, Changing Economy
Thunder Bay's economy is evolving, becoming increasingly more diverse, sustainable and competitive. Employment is growing steadily.
This is an exciting time in Thunder Bay as historically strong sectors in resource industries and manufacturing successfully blend with new, evolving and innovative businesses in knowledge, education and healthcare.
The city is preparing for exponential growth due to new mining opportunities associated with the Ring of Fire which is expected to bring thousands of new jobs and extensive development to Thunder Bay.
Work here, live here. Explore new opportunities as you enjoy this vibrant city and its welcoming community. Go To Thunder Bay. For Life.
|Economic snapshot||Thunder Bay CMA||Ontario|
|Population change since 2006||-1.1%||5.7%|
|Percent of population over 65 years old||17.2%||14.6|
|Percent of population aged 25-64 with less than high school (2011)||12.4||11.0|
|Percent of population aged 25-64 with postsecondary (2011)||63.4||64.8|
|Job growth (2011-2015)||3.6%||5.8%|
|Unemployment rate (June 2016)||7.3||6.4|
|Average hourly earnings||$23.00||$23.65|
|Sources: Census Data, National Household Survey Data 2011, Statistics Canada; Economic Modeling Specialists International (EMSI) / www.economicmodeling.com, Labour force Survey, June 2016|
While still featuring historically well performing sectors, Thunder Bay’s economy is shifting towards more knowledge based industry. Key sectors for Thunder Bay include:
- Film Production
- Health Sciences
- Information and Communication Technologies
Thunder Bay Community Profile for Investors – Download this PDF from the Thunder Bay CEDC to learn more about demographic and economic information for the city.
Learn More About Thunder Bay’s Economy:
- Thunder Bay Facts & Stats
- Demographic Information
- Labour Force
- Location Information
- Major Development Investments
- International Travel Statistics
- Mining Readiness Strategy
Top 10 employers
- Thunder Bay Regional Health Sciences Centre
- Lakehead District School Board
- St. Joseph’s Care Group
- Lakehead University
- City of Thunder Bay
- Government of Ontario
- Thunder Bay Catholic District School Board
- Bombardier Transportation
- Confederation College
- Government of Canada
Testimonials of local business
Visit the City of Thunder Bay website to read Success Stories from local business owners.
Thunder Bay Economic Data – This interactive website includes data on demographics, labour force, tax, quality of life, housing transportation, education, companies and utilities.
Thunder Bay Community Profile for Investors – This PDF provides demographic and economic information about doing business here.