Cornwall Records Superb Year of Economic Activity
Thursday, January 3rd, 2013
By Bob Peters
Development activity continues at a frenetic pace in Cornwall, with the value of building permits issued for 2012 to top $110 million. It is the third highest amount ever recorded at City Hall, according to a Year in Review report issued today by Cornwall Economic Development.
• View the Video • Download the Report
“Activity has been high throughout the year, and across all sectors,” says Mark Boileau, Manager of Economic Development. “It is also nice to see that local contractors are involved in a variety of residential and commercial projects. Our building permit office has been extremely busy, issuing more building permits than ever before.”
The level of building permit activity in Cornwall has doubled in just a few short years, rising from an average of $30 million in the early part of the decade to just over $60 million in 2012. The actual values for this year make 2012 an above average year, due in part to some large projects:
- Completion of a 1.4 million square foot distribution centre for Target
- Construction of new multi-unit residential buildings at Riverdale Terrace, Cotton Mill Lofts and King’s Landing, with other projects by JF Markell and many more local contractors
- Expansion of local industries such as BASF, FCM, Seaway Express and SCM
- Investment by dozens of businesses including NAV Centre, Miller Hughes Ford Lincoln, Goldmanco, Villarboit, St. Hubert, Shoeless Joes and more
- Public sector projects including the redevelopment of the Cornwall Community Hospital, expansion of road and services in the Cornwall Business Park, a new $79 million low level bridge by the Federal Bridge Corporation, and a new $57 million Wastewater Treatment Plant
“This was a superb year and we are very confident that more good news will be on its way in 2013,” said Mayor Bob Kilger. “Investors are expressing a lot of confidence in Cornwall, and we are working on a variety of projects that will continue to keep Cornwall’s economy moving forward.”
One of the most interesting parts of the Year in Review report is the impact that small business continues to have on the City’s growth. Over 60 new small businesses opened in Cornwall in 2012, many of which turned to the Cornwall Business Enterprise Centre for assistance.
“All credit goes to the private sector for the growth that we are seeing,” said Mr. Boileau. “From the single entrepreneur to the multi-national corporation, investments both big and small are creating job opportunities and prosperity for local residents.”
Mr. Boileau also estimated that a variety of festivals, conference and events that took place in 2012 had a positive impact of over $8million on the local economy.
The Year in Review meeting was hosted by Team Cornwall, a local group of community leaders that act as ambassadors for the City. Over 340 people attended the meeting.
“This meeting is always the highlight of our year,” says Gilles Latour, Chair of Team Cornwall. “Everybody leaves the meeting energized and enthusiastic for the New Year.”