Top 5 reasons to invest in Smiths Falls
As one of the up-and-coming communities in Eastern Ontario, Smiths Falls is uniquely positioned as a significant destination for investment. Certain features make Smiths Falls stand out above other Ontario towns. It boasts a strong heritage identity, offers natural beauty along the Rideau Canal, serves as a hub to target markets in Ottawa and the U.S., and there’s an openness to new business and industry.
Here are 5 great reasons why investment in Smiths Falls is a no-brainer.
Smiths Falls has been no stranger to embracing new industries. Their history includes producing some of the earliest Beatles record in an RCA record factory, or housing the Canadian operation of the Hershey Company. When medicinal cannabis began to emerge a presence in the global market, Smiths Falls opened its doors to Canopy Growth Corp., formerly known as Tweed.
Growing marijuana isn’t the only function of the facility: a client call center, packaging rooms, distribution center and visitor center fill the plant. According to the company, 800 people – and growing – are employed by Canopy Growth Corp. Since its inception, the town has seen an increase in population, employment growth, residential units, and housing value.
The food scene in Smiths Falls has the look, feel, and taste of a big city. It features a blend of fine dining, family-style restaurants, and quaint gems including The Pickled Pig, Chuckles Jack, or The Vault Eatery & Pub. Along the main streets you’ll also find dozens of shops, boutiques, and specialty stores for your every need. There are also five schools in Smiths Falls, and many options for youth and adult recreation within the town. The possibilities for outdoor recreation lie in every direction. Explore the civic nature trails, or the scenic Rideau Lakes situated a few kilometers south-west of downtown. Smiths Falls has also invested more than $50 million into municipal infrastructure, including a new hospital, new arena, and updates to water treatment and sewer plants. It’s also home to many museums, and the newly restored Rideau Hotel, which Park View Homes is proud to have completed a major restoration project this past year. Stop in to check out the renewed history of the building, and for a snack and coffee at C’est Tout Bakery.
Smiths Falls sits at the center of a transportation hub for vehicular, rail, water and aerial traffic. VIA Rail provides daily passenger service to and from Ottawa and Kingston, and passes directly through Smiths Falls. The Rideau Canal, a UNESCO World Heritage Site, runs through the center of the town. The Russ Beach Smiths Falls-Montague Airport is located just outside of town, and can accommodate small passenger planes and air delivery services. The proximity to major markets, top-flight universities, and contemporary residential areas helps attract a highly skilled labour force to help businesses succeed and the local economy to thrive.
Growth and infrastructure
Starting in 2012, employment growth in Smiths Falls exceeded provincial rates due to rapid growth of the manufacturing industry, as well as increased development that fueled the construction industry. Construction values in Smiths Falls more than doubled from 2014 to 2019, and is worth an estimated $76 million. Growth is expected to continue as overlooked areas are being sold for development. Phase 2 of construction in nearby development Bellamy Farm is underway with new townhome and bungalow townhomes available. Bellamy Farm is a well-situated urban development that offers a quick escape into residential life, while still just minutes away from the downtown and the great outdoors.
Support for business
Smiths Falls features a strong support system for businesses. A number of economic development strategies have been deployed by the town council such as infrastructure improvements, no development fees for businesses, and low water hook-up fees. Transportation access including passenger and freight rail services, a stock of investor-ready industrial space, and a highly skilled labour force gives Smiths Falls a competitive advantage.