Cornwall’s economic landscape saw remarkable resilience and growth in 2024 despite national challenges such as inflation and high interest rates. The annual Cornwall Economic Development “Year in Review” event, held on December 12 at Galaxy Cinemas, showcased the city’s achievements to an audience of over 300 business and community leaders.
“2024 is a year that many businesses and organizations should feel very good about,” said Bob Peters, Manager of Cornwall Economic Development. “Despite economic pressures, Cornwall witnessed significant investments in technology, job creation, and housing development.”
The report revealed that over 500 building permits were issued this year, accounting for more than $120 million in construction activity. Residential development also surged, with five major multi-unit projects underway, including Massey Commons and developments in the Cotton Mill District.
The city’s commercial sector thrived, highlighted by expansions from local businesses and international companies such as Walmart and Michelin. The latter’s new state-of-the-art 984,000 sq. ft. distribution center in the Cornwall Business Park is now operational.
Small businesses also played a vital role, contributing to Cornwall’s economic vibrancy. “Small businesses are the backbone of our community,” said Mayor Justin Towndale. “They continue to drive Cornwall’s progress and make it a wonderful place to live, work, and play.” MP Eric Duncan, in attendance, and MPP Nolan Quinn, via a pre-taped video speech, echoed similar sentiments when addressing the audience.
Institutional investments added to the city’s accomplishments, with St. Lawrence College opening a new paramedic simulation center and Ontario Power Generation completing a $600 million upgrade to the Saunders Generating Station.
Attendees left the event with complimentary gifts, including tickets to the “Road to the World Juniors” exhibition game, maple syrup, and samples from local businesses. As Cornwall moves into 2025, the focus remains on workforce recruitment, affordable housing, and supporting local innovation.
