Economic Development in Winnipeg

Winnipeg’s diverse economy contributes to a stable workforce, low unemployment rates and provides a buffer against major fluctuations in the event of a broader economic downturn.

Winnipeg's economic diversity is due to its broad strategic sectors:

• Aerospace
• Life Sciences and Biotechnology
• Finance and Insurance
• Transportation and Logistics
• Agribusiness
• Information Technology and New Media
• Advanced Manufacturing
• Tourism
• Energy and Environment

Together, these sectors provide a solid economic base, which serves the community well.

Winnipeg has the most diversified manufacturing sector in Western Canada. Manufacturing outputs range from food and beverage to tractors and other farm equipment, municipal and inter-urban buses to specialty steel products, electrical components, aerospace components, chemicals, plastics, furniture and much more. Manufacturers can source many of their inputs from other firms and draw on a large pool of skilled labour; much of the manufacturing activity is export oriented. The bus and tractor manufacturers export most of their output, making motor vehicles one of Manitoba’s largest categories of export.

Winnipeg also has a long history as a major financial centre. Manitoba’s financial services sector, concentrated in Winnipeg, contributes nearly $4 billion to Manitoba’s gross domestic product and is a major client of ICT firms. Winnipeg is the headquarters for some of Canada’s prominent investment firms and insurance companies. Approximately 25,000 people are directly employed in the finance, insurance and real estate sector in Winnipeg, representing about three-quarters of Manitoba’s total.

Winnipeg's aerospace sector is to home to 20 aerospace manufacturing firms and 32 aerospace support firms, employing over 4,000 people.  As Canada's third largest aerospace centre, and largest in Western Canada, the sector generates revenues of well over $1 billion.

The life sciences and biotechnology sector in Winnipeg is the fifth largest biotech and health research cluster in Canada and one of the fastest growing, employing over 4,200 people.  Winnipeg transportation and logistics sector conducts over $2 billion of annual economic activity and employs 28,000 people.  Additionally, many of Canada's largest inter-provincial truck companies are headquartered in Winnipeg.