An administrative and commercial hub with a population of 21,000 residents on the shores of the Great Slave Lake, Yellowknife is not your average Canadian city. With its unique, educated and diversified international population, the capital city of Northwest Territories is an economic anomaly; home to a large government workforce and corporate presence with offices of Canada’s three biggest operating diamond mines: BHP Billiton, De Beers and Diavik Diamond Mines Incorporated (a subsidiary of Rio Tinto Group/Harry Winston Diamond Corporation).
- As a regional trading center, Yellowknife serves the territorial population of 40,000 people.
- Yellowknife has a population of approximately 21,000 people.
- In 2006, visitors to the territory spent $100.5 million, Yellowknife being the main entry point for visitors.
- The Territorial birth rate has increased by more than 5%, more than 500 births/yr since 2006.
- The average age in Yellowknife is 31.2 compared to Canada-wide average of 39.5.
- More than 36% of residents are aged from 25 to 44 years old.
- The average annual growth is 0.7% for the total population.
- According to a 2009 traffic study 20,000 vehicles daily traverse the intersection in front of the Plaza, the highest traffic counts in the city.
- Yellowknife’s Tim Horton’s is the #1 grossing franchise in the entire chain.
- The Northwest Territories has no provincial sales tax.
- The Territorial corporate tax rate for small businesses is as low as 4%.
- The NWT has the highest average weekly earnings in Canada
- The average total household expenditure was more than $103,000 in 2007.
- The NWT’s GDP grew by 13% in 2008, the fastest rate in Canada.
- The unemployment rate is below 6%.
The city also boasts great transport infrastructure.
- Numerous transport trucking companies.
- All-weather road.
- Mackenzie River Bridge slated for completion as of fall of 2010.
- West Jet and Air Canada offer multiple daily, non-stop passenger air service.
- First Air and Canadian North offer both passenger and cargo transport throughout the NWT from Calgary, Edmonton, Ottawa and Winnipeg.
- Today, you can hop unto a flight from Toronto to Yellowknife and be here in about 5 hrs for only $250.
- In about 3 hrs, you are in Yellowknife from Vancouver as low as $120.
For more information, visit www.yellowknife.ca or contact Yellowknife Economic Development at (867) 669-3422.
Sources: NWT Bureau of Statistics 2009-03-26
2006 Census Gov. of Canada.
Statistics Canada, CANSIM, table 051-0004 and Catalogue no. 91-215-X. 2009-09-29;
Yellowknife Community Profile 2006