Market Information
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Nanaimo |
Population: 83,920 Households: 35,966 |
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NANAIMO FROM A DISTANCE
HARBOUR VIEW
DAILY NEWS COMPOSING ROOM CIRCA 1910
THE NEWSPAPER OFFICES
TOTEM
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Nanaimo is emerging as the favoured place to live, work, and play on Vancouver Island, thanks to its comfortable climate, thriving job market, and affordable real estate. Many young families are also choosing the city for its excellent school system, and expanding facilities at Malaspina University-College.
Steady growth in recent years for the second largest city on Vancouver Island has helped diversify the economy, and boosted demand for retail and wholesale trade, construction, and manufacturing. Technology companies and government services have also expanded local operations, bringing a wide variety of new jobs to the city.
As a transportation hub with extensive ferry and air service, Nanaimo is well-connected to the lower mainland and international markets.
Nanaimo Airport is located just 15 minutes south of downtown and serves an average of 20 flights daily between Nanaimo and the Lower Mainland. Visitors can also opt to fly into Nanaimo harbour’s seaplane terminal in the heart of downtown. Service is frequent and offers spectacular scenery en route. The city also has a thriving port facility operated by the Nanaimo Port Authority, which regularly harbours international container and cruise ships.
Nanaimo’s revitalized downtown core, and the 800 seat performing arts facility, the Port Theatre, are helping attract investment and broadening the city’s cultural profile. Real estate near the city center is in high demand, with a variety of new condo projects, loft housing developments, and commercial expansions underway including a new conference centre, museum and major hotel.
Nanaimo boasts a population of more than 80,000, 47% of which are 45 years old or older. Major industries are forestry, manufacturing and high technology. Of the population over the age of 20, 63% have attended a post secondary institution.
The average household income is almost $59,000. The top three employers for males are management, sales/service, and trades, and for females health, business and sales/service. A full 70 per cent of the population owns their homes.
An increase in population has led to more demand for local products and services and real estate development is booming. Nanaimo’s economy has developed a diversified base including retail and wholesale trade, construction, manufacturing, knowledge-based and technology companies, and government services. Enterprising entrepreneurs have created hundreds of new businesses to take advantage of new markets. More products and services mean more variety and strengthening of Nanaimo’s role as a regional service centre for Vancouver Island.
FP Markets - Canadian Demographics 2007 (city)
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