Employment
The community of Peterborough has a diverse economic base including industrial, commercial and agricultural resources. What began as a lumber town in the early 19th century, expanded into a railroad and industrial centre. Today Peterborough also houses the headquarters of the Canadian General Electric Company and is a well–known tourist destination for the Kawartha Lakes region.
Peterborough’s proximity to major markets in Canada and the northeastern United States makes it an ideal business location. Combined with the fact that it has four–lane access to Toronto and the largest commercial airport between Toronto and Ottawa, establishes Peterborough as a viable contender in the marketplace.
"Among the many successful Peterborough–based businesses serving local, national and international markets from Peterborough are: Pepsico Foods (Quaker), General Electric, FisherCast Global, Siemens Milltronics, Minute Maid and SGS Lakefield Research." Greater Peterborough Economic Development Corporation
There are countless other local industries and businesses as well as those geared to the tourism industry (which commands a large part of the overall local employers). Being only one hour away from Canada’s largest market (Toronto) and given the fact that Peterborough is within a 320 km radius of 60% of Canada’s population and within a 800 km radius of 40% of the United States population, positions the city in a central location for industry.
Among some of the statistical highlights of the area are an unemployment rate of 4.3% (June 2004) and a retail sales rate of 19% over the national average (June 2004).
Having four–lane accessibility to Toronto and surrounding areas also makes Peterborough attractive to commuters. A large number of commuters are employed at General Motors (Oshawa) and Ontario Power Generation (Clarington ⁄ Pickering). Commuters to Toronto are also looking to Peterborough as a viable, affordable location for family living.