Thursday, December 19th, 2013 Over 350 community and business leaders gathered at Galaxy Cinemas on Wednesday, December 18th for a first-hand recap of economic activity in Cornwall over the past year. It was the 15th consecutive year that Team Cornwall has organized the meeting. The highlight was a comprehensive presentation by Mark Boileau, Manager of Cornwall Economic Development.
Mr. Boileau outlined over 150 major investments that have occurred in Cornwall in 2013, leading to the creation of over 500 jobs. Mr.
Boileau s presentation included information on institutional, commercial, residential and industrial development activity. We rely on the community to provide us with details of growth and development activity, which we are happy to summarize and share, said Mr. Boileau.
It is the continued investment by the private sector and public institutions that is driving economic growth in Cornwall. Mayor Bob Kilger agreed with Mr. Boileau, characterizing the collective effort of the the community as a genuine success story.
Mayor Kilger expressed confidence that the good news stories would continue to roll in 2014 and beyond. Click here to access the full Year in Review presentation 1 During his presentation, Mr. Boileau announced two new developments that will have a positive impact on Cornwall in 2014.
The Benson Group has acquired a new building, effectively doubling the size of their autoparts and tire distribution centre. Cornwall s largest private sector employer, SCM, also announced the creation of a high velocity distribution centre (HVDC) in its existing 1.4 million sq.ft. facility.
Both announcements help to further Cornwall s reputation as a leading hub for logistics and supply chain activity in Canada. Team Cornwall also celebrated its accomplishments over the past 12 months. The group of 400-plus business ambassadors has been hard at work at representing Cornwall around the world and spreading news about local investment opportunities.
Team members were portrayed in all corners of the globe, including the Galapagos Islands, Kenya and the Caribbean, speaking to well known celebrities and business colleagues. Two new Team Cornwall members were singled out and celebrated this morning. Billy Smith, the 4-time Stanley Cup Champion and Hockey Hall of Famer and Moe Racine, 4-time Grey Cup Champion and Canadian Football Hall of Famer were both presented with Team Cornwall jerseys and new Team Cornwall cards.
Mr. Smith and Mr. Racine both live in Cornwall.
Team Cornwall is not a sports organization, but our City has a strong and vibrant sports heritage, said Gilles Latour, Chair of Team Cornwall. You can not ask for two more accomplished or respected athletes than Moe Racine and Billy Smith. We are very fortunate to have them on our team.
Mr. Racine credited the support of his hometown Cornwall as being important in his football career. A highlight of the morning presentation was the debut of a Team Cornwall music video.
The film was shot by Fishrizzo Productions at the recent Team Cornwall Golf Tournament in September. The video features dozens of Cornwall s best and brightest singing along to Neil Diamond s hit, Sweet Caroline. We may be great ambassadors, but I think everyone will agree we should leave the singing to the professionals, joked Mr.
Latour. Click here to watch the video 2 The event was held at Galaxy Cinemas and was catered by Farm Boy and Tim Hortons. Costs were offset by sponsorship from Remax Cornwall, Drake, Caisse Populaire and McDonald Duncan Law Firm.
References ^ Year in Review presentation (www.choosecornwall.ca) ^ Youtube video (www.youtube.com)
A Suffolk-based freight company has been sentenced for a series of safety breaches after a forklift truck toppled and spilled its load onto a worker, breaking his back.
http://news.hse.gov.uk/ 1 References ^ http://news.hse.gov.uk/ (www.hse.gov.uk)
Over 1.03 billion of capital was invested in UK industrial and logistics property in the first half of this year, more than the total volume transacted in 2012, according to new research from global property advisor CBRE. Overseas and domestic buyers have been attracted to the asset type due to its defensive investment qualities, underpinned by robust occupier demand in core UK locations. Industrial and logistics property has consistently outperformed the IPD benchmark, and the improved debt market and reallocation of portfolios away from gilts and equities has led to further focus on the asset class.
Overseas purchasers accounted for 37% of all capital invested, followed closely by UKinstitutions at 28%. Prior to the start of this year, buyers had predominantlyfocused on properties which provided either short or long dated stock, but in2013 a lack of supply has caused a dramatic rise in parties seeking mid-termincome (8-12 years unexpired terms). Regionally, the strategically located South East and East Midlands markets have togetheraccounted for more than half of all purchases by value in H1 2013.
This is dueto their excellent transport links and access to the wider UK market. Richard Moffitt, Head of UK Industrial and Logistics, CBRE said: We have witnessed a resurgence in buyers eyeing quality UK industrial andlogistics property this year, driven by compelling evidence of the sector sperformance relative to other asset classes. Occupier markets continue to thrive,and the resulting lack of prime stock has led to a surge in design and buildactivity in the best markets.
The high levels of investment have led to aninward movement in prime yields, now at 5.5% for the best stock, and we expectthis trend to continue as competition for prime assets grows.
Investment into UK industrial and logistics property soars …