$500 Million Invested in Cornwall in 2011

Friday, December 16th, 2011

Over 300 business people packed Galaxy Cinemas this morning for the ever popular Year in Review meeting hosted by Team Cornwall.

Over $500 million of investment in Cornwall was detailed in a thorough presentation by Mark Boileau, Manager of Cornwall Economic Development. Mr. Boileau highlighted many of the key 2011 projects occurring in the residential, government, commercial and industrial sectors.

“2011 was a record year for Cornwall in many respects,” said Mr. Boileau. “The investments made by companies and individuals in equipment and personnel do not always show up in traditional measurement tools such as building permit values. This year we attempted to showcase the multi-facted natured of the growth that is occuring in Cornwall.”

One key growth area for Cornwall is the logistics sector, with 300 acres currently under development in the Cornwall Business Park. That activity includes the ongoing construction of a 1.3 million square foot distribution centre for Target, which represents the largest single-phase building project in Cornwall’s history. Two senior representatives from Target made the trip to Cornwall from Minnesota for the meeting.

“We’re confident that we can continue our success into Canada as we open approximately 200 new stores,” said Colin Yankee. “Cornwall offers a strategic location well situated to both our vendors and our store locations. The Cornwall Distribution Centre will play a big role in getting the right product to the right store at the right time.”

Mayor Bob Kilger thanked Target for its investment in Cornwall and noted that the local workforce will be a great asset for Target in the future.

“We pride ourselves on being on budget, on time and now we can say Cornwall is ‘on Target’!,” the Mayor quipped.

The meeting was also a special one for Team Cornwall as it unveiled a new logo. Membership in the ambassadorial group has reached an all-time high of over 400, with 20 people joining following the meeting. Team Cornwall Chair Gilles Latour highlighted the activities of Team Cornwall members as they traveled around the world this past year with their signature Team Cards.

“We try very hard to capture every good news story but it’s impossible to recognize everybody in just one meeting,” said Gilles Latour. “We are very proud of the entire community and the people that are driving our success. Over the next few weeks we will be relaunching the Team Cornwall website that will allow us to showcase our ambassadors’ efforts on an ongoing basis.”

“The Year in Review meeting is always very informative and inspirational,” said local businessman Pierre Lefebvre of Marleau Insurance Brokers, who has attended the annual event for the past several years. “The amount of new investment and new residents coming to Cornwall is very encouraging.”

The Cornwall Business Enterprise Centre organized an impromptu bazaar of local goods and services which greeted attendees as they left the meeting.

The meeting was well covered by local media and will be broadcast by TVCogeco on Channel 11 a number of times over the coming weeks.

To download Mr. Boileau’s presentation (6MB), please click here.