Construction is underway at Moncton’s fourth industrial park. The new 124-acre Moncton East Business Park, which is being built under the auspices of Moncton Industrial Development (MID), is geared towards smaller business operations with more of a retail/wholesale focus.
MID General Manager Pierre Dupuis says about 40 different lots are available at the park, averaging about two-and-a-half acres each in size. Located directly across the Trans-Canada Highway south of the TCH from Caledonia Industrial Estates, the business park can easily be accessed from Elmwood via Price Street. A second public access from the TCH is being finalized with construction planned in late 2020.
Dupuis is anticipating 50 to 100 different businesses to eventually locate in the park which has been in the planning stages since late 2014 or early 2015. It was one of seven locations identified by a consultant back in 2007 as a possible site for a future park.
The initial part of construction was tendered in 2018 and while the first half of the park is expected to be fully complete by the end of 2019, Dupuis is hoping to have everything finished by the end of summer 2020.
Cost is an important consideration for business owners opting to set up shop in the parks but locating there also allows them to acquire land and build to their specific needs.
“It’s less expensive but it’s also an opportunity for business owners to actually own their space so it’s building equity into their own business. The potential is there for them to own rather than just lease and operate from another park or another area,’’ he explains.
Other advantages are easy access and visibility from the highway, especially for businesses operating in more of a regional marketplace.
About 20 per cent of the lots have already been pre-sold and construction is underway at a couple of different locations which Dupuis says is quite impressive considering people actually believed in MID’s vision and concept before even breaking ground.
He considers activity within the parks as a strong economic indicator in the Greater Moncton Area and a demonstration of the business community’s confidence in the regional economy.
“Business owners are prepared to invest in our parks and they definitely see the benefits of doing that.’’
He estimates the park will represent about $32-million in tax revenue for the City of Moncton within the first 25 years following full build out which will enable the City to fund other essential municipal services.
MID is celebrating its 60th anniversary in 2019. Incorporated in 1959, the non-profit organization was created in response to a need from the business community to develop and service industrial lands.
It’s been a banner year for MID which started with the original Moncton Industrial Park back in the early 1960s, Caledonia Industrial Estates in the 1970s and MID West in early 2010.
“Going into our 60th year, if we finish the year off the way I think we’re going to finish, it will probably be the best year in terms of total acres sold, total sales values and the amount of investment within our parks. We could be topping $80 million in new building permit values within our parks in 2019,” says Dupuis.
Looking to the future, he notes MID is already in the process of acquiring about 200 acres of land in another strategic area of the city which could start being developed as soon as late 2020, depending on how quickly Caledonia and MIP West fill-up.
MID receives a small operating grant from the City of Moncton which goes towards covering MID’s operating expenses. MID is staffed by a small team comprised of Pierre Dupuis and Business Development Officer Marc-André Boucher. The organization prides itself with delivering strong results in an effective and very efficient manner.