The number of corporate head offices in Canada declined slightly in 2023, continuing a decade-long trend, according to newly released data from Statistics Canada.
There were 2,655 head office locations across the country last year, a 0.3% decrease from 2022 and a 4.9% drop since 2012. Despite the decline in office locations, head office employment saw a marginal increase, with 211,445 people working in these roles — 250 more than the previous year.
Ontario, Quebec, and Alberta accounted for the vast majority of head office employees, employing 43.1%, 23.7%, and 15.5% of the workforce, respectively.
The country’s largest business hubs remained Toronto (689 head offices), Montréal (372), Vancouver (236), and Calgary (197). Toronto also led in head office employment, with 68,223 employees, followed by Montréal (38,293), Calgary (25,396), and Vancouver (15,387).
Looking ahead, economic pressures continued to challenge businesses in 2024, though the second half of the year saw some relief with declining interest rates, job growth, and slowing inflation. Statistics Canada expects to release updated head office data for 2024 after collecting survey responses in 2025.
