Hamilton is the top place to invest in Ontario, according to a report released Tuesday morning.

The Real Estate Investment Network of Canada (REIN) has ranked Hamilton as the top location in which to invest in Ontario. This the second straight year that Hamilton has held top spot.

"The wheels have been set in motion to create a major high-tech industrial park in conjunction with growth at McMaster University, sparking an entrepreneurial spirit in the city," REIN founding partner Don Campbell said in a statement.

"Known formerly as a hard-working steel town, the city has quickly shed this image in the eyes of potential investors — as indicated by the record breaking building permit values Hamilton has experienced in recent years."

Neil Everson, director of Hamilton's economic development division, said he was pleased.

"This is further proof that the diversification of Hamilton’s economy is starting to pay great dividends," he said. 

"We’re thrilled with the ranking once again and encourage investors to contact us to learn more about one of Ontario’s hottest economies."