Estimated reading time: 4 minutes
image courtesty of portcolborne.ca
The Region of Niagara is comprised of twelve municipalities in Southern Ontario. Each municipality represents a unique combination of agricultural, commercial, industrial, multi-residential, and hospitality opportunities. As part of an ongoing series, I have been presenting a market snapshot of significant areas within the Niagara Region.
Today, I will provide a market snapshot of the City of Port Colborne. The city is located on the Southern Coast of the Niagara Region along the Northern shore of Lake Erie. Port Colborne has benefited residentially, commercially and industrially because the urban area was developed on and around the Welland Canal. The city, much like Welland, has a strong history of manufacturing and relies on industry for employment.
Transportation
Port Colborne has the strategic advantage of having access to intermodal traffic due to it’s proximity to the canal. The city is a recognized port through the Province of Ontario. The below transportation network encourages investment within the city:
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Three Highways access the city: Highway 3, 58 & 140
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Located 20 minutes from the USA border and the Peace Bridge which connects to the Interstate
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Located 90 minutes from Toronto and Pearson International Airport and 30 minutes from Buffalo Niagara International Airport
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City owned Trillium Railway connects with CP and CN mainlines
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Gateway to the Welland Canal which connects Lake Erie with Lake Ontario and the St. Lawrence Seaway
Industry Overview of Port Colborne
The Welland Canal has provided Port Colborne the ability to grow and attract industry along its waterfront. Many manufacturing companies have opened their doors in the city due to the competitive advantages associated with the canal.
Niche markets have developed within the city and are experiencing rapid growth. Those industries include: the bio-food industry, the fabricate metals and machining industry and the distribution and logistics industry. ‘Carbohydrate Valley’ has become a bio-food cluster, with access to $2.5 trillion of North America’s consumer income, the area is focused on attracting international business to invest in the available lands. Large companies such as ADM Milling already operate advantageously along the Welland Canal and there is still prime land available for industry investment.
Financial Incentives
Port Colborne has developed community improvement plans (CIPs) to encourage investment and development of their manufacturing and logistics sector. The city offers incentive programs through Brownfield CIPs, Industry CIPs and the Niagara Gateway Economic Zone and Centre CIPs. The industrial CIP has allowed the city to establish approximately 300 acres of industrial lands adjacent to the Welland Canal that are now being marketed for bio-food industry investment.
Looking to invest in a Port Colborne property? Connect with a Niagara real estate appraiser today to determine the market the value of your property in the Niagara Region.
