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From: www.ottawabusinessjournal...088752.php
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Ottawa second to Calgary in head office growth
By Ottawa Business Journal Staff
Thu, Jul 13, 2006 2:00 PM EST
Head office employment in Ottawa-Gatineau grew faster between 1999 and 2005 than any other city in Canada, except Calgary.
While still miniscule compared to federal government employment, Statistics Canada says head office employment in Ottawa-Gatineau rose 28.4 per cent during the period to 4,667.
Toronto has reinforced its position as Canada's head office headquarters, while Calgary has overtaken Vancouver as the leading city for head offices in Western Canada. Head office employment in Calgary soared 64.4 per cent to 19,428. Canadian Pacific Railway and Imperial Oil were among the companies re-locating their Canadian head offices to Calgary during the period.
Montreal remains the second-most important city for head offices, but has been losing ground to both Toronto and Calgary.
The study also debunks the myth that foreign takeovers of Canadian firms leads to an overall reduction in head office jobs. In fact, Statscan says foreign-controlled firms were the dominant force driving growth in both the number of head offices in Canada and head office employment between 1999 and 2005. Foreign controlled firms accounted for about two-thirds of the net increase in head office employment, and all the growth in the number of head offices.
Head office jobs at domestically-controlled firms rose 5.8 per cent during the period, while head office employment at foreign-controlled companies rose 21.1 per cent.
The issue has been raised recently as more Canadian companies – such as Inco, Falconbridge, and Dofasco – become the target of foreign takeover bids.
During the six-year study period, the number of head offices in Canada increased from 4,061 to 4,161. This resulted from a net gain of 191 foreign-controlled head offices, most resulting from births of new head offices outnumbering exits, and a net decline of 91 in the number of domestic head offices.
The loss of a head office is a common occurrence, say Statscan, but for Canada as a whole, the losses are balanced by the addition of new head offices.
Of the head offices that existed in 1999, 37 per cent were no longer in existence in 2005. But the study also found that 38 per cent of the head offices operating in 2005 did not exist in 1999.
______________________
Ottawa second to Calgary in head office growth
By Ottawa Business Journal Staff
Thu, Jul 13, 2006 2:00 PM EST
Head office employment in Ottawa-Gatineau grew faster between 1999 and 2005 than any other city in Canada, except Calgary.
While still miniscule compared to federal government employment, Statistics Canada says head office employment in Ottawa-Gatineau rose 28.4 per cent during the period to 4,667.
Toronto has reinforced its position as Canada's head office headquarters, while Calgary has overtaken Vancouver as the leading city for head offices in Western Canada. Head office employment in Calgary soared 64.4 per cent to 19,428. Canadian Pacific Railway and Imperial Oil were among the companies re-locating their Canadian head offices to Calgary during the period.
Montreal remains the second-most important city for head offices, but has been losing ground to both Toronto and Calgary.
The study also debunks the myth that foreign takeovers of Canadian firms leads to an overall reduction in head office jobs. In fact, Statscan says foreign-controlled firms were the dominant force driving growth in both the number of head offices in Canada and head office employment between 1999 and 2005. Foreign controlled firms accounted for about two-thirds of the net increase in head office employment, and all the growth in the number of head offices.
Head office jobs at domestically-controlled firms rose 5.8 per cent during the period, while head office employment at foreign-controlled companies rose 21.1 per cent.
The issue has been raised recently as more Canadian companies – such as Inco, Falconbridge, and Dofasco – become the target of foreign takeover bids.
During the six-year study period, the number of head offices in Canada increased from 4,061 to 4,161. This resulted from a net gain of 191 foreign-controlled head offices, most resulting from births of new head offices outnumbering exits, and a net decline of 91 in the number of domestic head offices.
The loss of a head office is a common occurrence, say Statscan, but for Canada as a whole, the losses are balanced by the addition of new head offices.
Of the head offices that existed in 1999, 37 per cent were no longer in existence in 2005. But the study also found that 38 per cent of the head offices operating in 2005 did not exist in 1999.