The National Bank of Canada is ranking Niagara's economic momentum as the second strongest in the country.
In a recent study, the only area ranking higher is Hamilton.
The index considered six factors including employment levels and unemployment levels, housing starts, home sales, non-residential building construction, and housing prices.
In response to the study, Regional Chair Alan Caslin says, "This independent report affirms what we have been feeling for some time in Niagara: the wind is at our backs and we have the economic momentum to continue to create real prosperity for our communities. Whether it’s the province’s commitment to daily GO train service, strong growth in our housing market or incredible private sector investment evidenced by GE, it’s a great time to live and do business in Niagara."
Housing prices and non-residential building investments are being tagged as two main contributors to Niagara's ranking, with housing prices jumping by 28% during the course of the study, and non-residential building investment growing by more than 30%.
Rounding out the top five are Kitchener-Cambridge-waterloo, Victoria B.C., and Gatineau, Quebec.