Waterloo is considered a Medium City with a population of 112,060 and 6,395 businesses. 51 in 2018 were added to the Waterloo Chamber of Commerce business directory which was less than 2017 which had 76.

The economy of Waterloo employs 73,960 people and has an unemployment rate of 6.9%. Some of the largest industries in Waterloo are Professional Services (436),Restaurants (220), and Entertainment Agencies & Bureaus (163).