Economic Snapshot

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.

Compares Thunder Bay to the rest of Ontario with regards to various economic indicators

Economic snapshot   Thunder Bay CMA Ontario
Population (2011) 121,596 12,851,821
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
Total Jobs 57,879 6,182,578
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

Key Sectors

While still featuring historically well performing sectors, Thunder Bay’s economy is shifting towards more knowledge based industry. Key sectors for Thunder Bay include:

  • Education
  • Film Production
  • Health Sciences
  • Information and Communication Technologies
  • Forestry
  • Manufacturing
  • Mining
  • Transportation

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:

Community Profile

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.

Contact(s)

Why Thunder Bay

Busy laboratory

Thunder Bay is the largest metropolitan centre in Northwestern Ontario at 2,556 km sq.

Testimonials

“We ship every day… Plane leaves here at 5 o’clock every day. Our goods are in their owners hands as quick as 18 hours anywhere in North America.” - Owner, Cinevate Inc.

Quick Stats

Logo Map

Education

GIS

News

New mine debunking local economic myths

The Thunder Bay Port Authority saw overall cargo of over 8.9 million tonnes in 2015, 17% higher than the 5 year average.

Local Business News

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Thunder Bay Business