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Candidate School On Business Port Moody
Economic Overview
DEMOGRAPHICS National Household Survey
10/20/2014 Port Moody
Population (2011 Census)
10/20/2014 Port Moody
• Population: 32,975
• Growth rate: 5.9% between 2006-2011
• Population Density: 1,273.8 persons/km2
• Projected population: 50,000 in 2041
0
10,000
20,000
30,000
40,000
50,000
60,000
Po
pu
lati
on
Growth
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Immigration
0%
10%
20%
30%
40%
50%
60%
Immigrant Origins • 31.6% of Port Moody residents are immigrants
• 68% of residents consider English their first language
• Top 5 Mother Tongues: – Korean
– Farsi
– Mandarin
– Spanish
– Russian
Income and Housing
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• Total Number of Private Households: 12,630
• Average persons/household: 3.0
• Average Income: $50,162
• Average Household Income: $111,592
MARKET INDICATORS
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10/20/2014 Port Moody
Labour Force
• Total Labour Force: 19,130
• Participation Rate: 71.5%
• Unemployment Rate: 7.1%
• Highest Education Level
– University/College: 71%
– Trade School: 7%
– High School: 20%
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Labour Force by Industry
Professional, scientific and technical services, 2200
Retail trade, 1945
Health care and social assistance, 1835
Educational services, 1810
Public Administration,
1300
Construction, 1290
Accommodation and food services,
1075
Information and cultural industries, 1010
Manufacturing, 970
Finance and insurance, 955
Wholesale trade, 885
Other services, 875
Admin support, waste management, remediation services, 760
Transportation and warehousing, 650
Real estate and rental and leasing, 550
Arts, entertainment and recreation, 335 Utilities, 165
Mining, quarrying, and oil & gas extraction, 125
Agriculture, forestry, fishing, hunting, 30
Management of companies or enterprises, 20
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Port Moody Business Licenses
0
500
1000
1500
2000
2500
3000
2009 2010 2011 2012 2013
1779
2657 2483
2651 2498
Total Construction Permit Values (in Millions of Dollars)
$-
$5
$10
$15
$20
$25
$30
$35
$40
$45
$50
2009 2010 2011 2012 2013
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Building Permit Values
2012 Totals 2013 Totals
Residential $4.8 Million $5.85 Million
Commercial $1.4 Million $3.3 Million
Institutional $7.9 Million $1.8 Million
Industrial $0 Million $0 Million
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Residential Commercial Institutional Industrial
Condos Retail School Warehouse
Apartments Office Fire Hall Manufacturing
Single Family Dwellings
Restaurant Community Centre
Townhomes
TAXES IN PERSPECTIVE
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10/20/2014 Port Moody
Tax Rates
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Major Industry 71.0503 69.9390 68.9686 59.1590 60.2876 58.3181 67.0612 71.2410 74.4654 77.3830
Light Industry 41.3559 36.5215 32.3726 27.9042 28.9584 27.9726 28.0550 27.3814 31.6488 26.6996
Business 25.8486 24.6747 21.6806 18.4238 19.0836 18.6855 18.3925 18.1177 18.0595 17.9710
0.0000
10.0000
20.0000
30.0000
40.0000
50.0000
60.0000
70.0000
80.0000
90.0000
Pe
rce
nt
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Major Industry Tax Rates Across the Lower Mainland
0.0000
10.0000
20.0000
30.0000
40.0000
50.0000
60.0000
70.0000
80.0000
2010 2011 2012 2013 2014
Burnaby
Coquitlam
Delta
Maple Ridge
New Westminister
North Vancouver (City)
North Vancouver (District)
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Surrey
Vancouver
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Light Industry Tax Rates Across Metro Vancouver
0.0000
5.0000
10.0000
15.0000
20.0000
25.0000
30.0000
35.0000
40.0000
2010 2011 2012 2013 2014
Burnaby
Coquitlam
Delta
Maple Ridge
New Westminster
North Vancouver (City)
North Vancouver (District)
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Surrey
Vancouver
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Business Tax Rates Across Metro Vancouver
0.0000
5.0000
10.0000
15.0000
20.0000
25.0000
30.0000
2010 2011 2012 2013 2014
Burnaby
Coquitlam
Delta
Maple Ridge
New Westminster
North Vancouver (City)
North Vancouver (District)
Pitt Meadows
Port Coquitlam
Port Moody
Richmond
Surrey
Vancouver
Tri-Cities Major Industry Tax Rates
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0.0000
10.0000
20.0000
30.0000
40.0000
50.0000
60.0000
70.0000
80.0000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Coquitlam
Port Moody
Port Coquitlam
Tri-Cities Light Industry Tax Rates
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0
5
10
15
20
25
30
35
40
45
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Coquitlam
Port Moody
Port Coquitlam
Tri-Cities Business Tax Rates
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0
5
10
15
20
25
30
35
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Coquitlam
Port Moody
Port Coquitlam
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Tax Burden Distribution
0%
10%
20%
30%
40%
50%
60%
70%
80%
2008 2009 2010 2011 2012 2013
Residential
Business*
*Business includes Major Industry, Light Industry, Business & Farm
Assessment Values in millions of dollars
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$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
2005 2006 2007 2008 2009 2010 2011 2012 2013
Other 5 7 6 7 7 7 13 14 14
Business/Industry 275 316 380 463 487 521 531 548 563
Residential 3,071 3,626 4,664 5,398 5,714 5,557 5,995 6,159 6,343
City Budget - Overview
10/20/2014 Port Moody
City Budget - Operations
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Sources
10/20/2014 Port Moody
• Ministry of Community, Sport, & Cultural Development
• BC Assessment
• 2011 Census
• 2011 National Household Survey
• City of Port Moody