“Choose Cornwall!” That is the message emanating from business leaders in Cornwall, a city of 50,000 people on the St. Lawrence River, about an hour southeast of Ottawa.
Perhaps unbeknownst to many people, Cornwall is a bustling, burgeoning site of activity that’s creating exciting opportunities both for investment and employment.
“Take a closer look at what is happening here, you might be surprised,” says Bob Peters, manager of Cornwall Economic Development. “There are major international projects underway, and there are also investment opportunities with available buildings and land to purchase.”
City planning and building officials are currently reviewing dozens of development proposals that could see over 1,000 new residential units over the next five years. It speaks to unprecedented levels of investment in the residential sector with a density and scale of development that the city has not seen in decades.
The applications consist of major, multi-unit residential developments that range from apartment buildings to condo developments, to mixed density residential subdivisions.
Growth is attributed to several factors, including a renewed focus on affordable housing, and the fact that Cornwall is more cost effective to build residential developments, from start to finish.
“Historically Cornwall is a low-cost centre, so from the time you acquire land to all your development approval fees and any other costs associated with building, you will have spent less than in major urban centers,” says Mr. Peters. “At the same time, Cornwall is a full-service city, and the prospect of quality of life at a lower cost threshold makes investing (and moving here) attractive to investors.”
The need for housing is being fueled by employment growth, with more than 500 jobs currently available across the community, including with the City of Cornwall itself.
Cornwall has a solid reputation as a welcoming hub city for the region. It is acknowledged as one the key supply chain hubs in Canada, with a thriving logistics sector led by Walmart, Loblaw, Shoppers Drug Mart and the Benson Group. The Cornwall Business Park is also home to world-class food processors and innovative manufacturers. Products produced in Cornwall include heart catheters, circuit boards, materials used in Kevlar vests, and food products such as bacon and breakfast bars. Local companies are increasingly turning to automation and advanced processes to remain competitive, and a new sector dealing with AI and robotics is emerging.
Cornwall may be one of the oldest communities in Canada; however, based on the level of investment activity the city is experiencing, it may also be one the fastest growing.
This article first appeared in the September 2024 special “City Building” issue of the Ottawa Business Journal. That publication is available in its digital edition below:
