Home » Services, investor attraction focus for old Tembec land in 2020

Posted: December 10, 2019

Services, investor attraction focus for old Tembec land in 2020

Looking ahead to build for the future, is one of the biggest reasons the City of Cranbrook purchased the previous Tembec property in 2018. This has added 99 acres of industrial zoned land supply available for development in the city.

The goal of the purchase is to attract employment rich, diverse, value-added industry to the community, enhancing our economic base.

The largest focus in 2019, was the three engineering studies initiated by the city. The first was an environmental engineering study, the second was a civil engineering study, and the third was a geotechnical study. It is anticipated these studies will be completed early in 2020.

Mayor Lee Pratt

City staff are also working on the overall concept and strategy for the former Tembec property with a focus on marketing to investors, developers and other business interests in 2020 and beyond.

“Over the past few years we have had a number of enquiries regarding availability of investment ready industrial land. This will fill that void we have had and make this area attractive to new industries and the relocation and expansion of existing businesses,” said Lee Pratt, Mayor of the City of Cranbrook.

For the development of the property, $2.5 million is included in the 2020 budget for installation of deep utilities, and $2.75 million for installation of shallow utilities and a road.

Below is a breakdown of costs associated with the Cranbrook Industrial Lands (former Tembec land) to date and the budget and development projects slated for 2020:

 

To date all project costs will be coming from reserves and accumulated surplus. The city will also pursue Federal/Provincial Infrastructure Grants and other funding partnerships.

 

 

Upon the successful development of the Tembec lands, the city expects new lease and sales revenue, property tax revenue, the creation of more jobs and many other important spinoffs which will positively impact the overall economy of Cranbrook.

“Our vision is to provide a sustainable development that will foster new and innovative investments in our community. We’re exploring ideas in sustainability, design and economic modelling to create a long-term strategy for economic development,” said Darren Brewer, Business Development Officer for the City of Cranbrook. “We hope to pilot new ideas and strategies to build our competitive advantage and grow our economy.”

“We want to achieve a new standard for development in the Kootenays, providing new and innovative opportunities for economic growth for our citizens, while creating the blueprint for an ecologically-friendly industrial culture,” Brewer added.

There have been some early successes on site, with the introduction of C & C Wood Products and Caliper creating good paying jobs and restoring life into the former Tembec lands.

Looking ahead, the economic outlook and overall goals for the property are strong. New investment and growth will create positive direct and indirect impacts in the local job market and in the local business economy. Work is underway from an economic development perspective to build on the historic strengths of the area, foster local innovation and investment, and help diversify our economy and create jobs.

“Once this development is completed and fully occupied, it will be a large complement to the existing business community of Cranbrook,” Mayor Pratt noted, adding, “over time this will be a huge economic driver for the City and adding to the services we provide to the surrounding area.”

City of Cranbrook


Article Share
Author: