June 2018

180 181 COBOURG, ONTARIO retention program is key because every job you create through a new business, you can create nine by working with existing businesses.” Two of the strongest industries are the food sector and plastics sector. Cobourg promotes its success with those types of companies and is working on developing clusters, so that other manufacturers and supporting businesses will see it as an attractive place to do business. A good example is a plant that moved here and produces packaging materials for food companies –boxes, liners, sealed packages – and comple- ments the food manufacturers in town, includ- ing Wheatabix, Maplehurst Bakeries (formerly Weston’s) and Canada Candy Company (confectionery goods). The town owns an industrial mall with one million square feet of manufacturing space and many tenants. Brocanier explains, “One way we help them grow their busi- ness is when they have to make a capital expenditure. Because we own the Northam Industrial Park, we take money and invest in capital for them, so they can expand. They pay us back by signing a long-term lease to make sure we get our investment back. That helps them greatly because we’re will- ing to upfront the money, and we use the revenue from our industrial park to fund that.We aren’t going to the tax base.” The program results in rising employ- ment and increasing the value of the asset.