Barrie Ranks High for Investment

Online, November 5, 2009 (Newswire.com) - Barrie is one of the best places in Ontario to invest, says the Real Estate Investment Network.

The city - linked with Orillia in a district called Simcoe Shores - ranked third in the real estate research organization's five-year strategic forecast, Top Ontario Investment Towns.

Topping the list were Kitchener-Waterloo-Cambridge, an area known as the "technology triangle" and Hamilton. Falling in line behind Barrie were Brampton, Durham Region, and rounding out the rest of the top 10 were Ottawa, Brantford, Toronto, Vaughan and Whitchurch-Stouffville.

Barrie's economic development director Hany Kirolos credits several factors for the endorsement.

"Expanding (transportation) infrastructure, health care and education facilities, coupled with a diversified economic base and an excellent quality of life, are key pillars that will propel Barrie's economic growth well into the future. This is great news for the city, and the findings will be considered as we complete the economic development strategy this fall," said Kirolos.

He added the city's young population - which is in its prime earning and spending years - also played a part in the city honors.

"Barrie's attracting couples in their 30s and 40s, people looking to raise families and for a good quality of life. It's a great place to invest in a first home.

"It reinforces all these other things (including investment in roads, in education and health care, and in community facilities). We're continuing to say Barrie's a well-kept secret."

Still, Kirolos likes hearing a respected development-industry group says the city is doing the right things at a time when globally, investment is down.

"They've placed us at No. 3, which is pretty exciting," he said. "The common denominator among the top cities was their economic development teams were quite aggressive."

"In spite of the tumultuous global crisis, we're not pulling back on any marketing initiatives. I'm constantly on the phone with developers as are some of my team."

Barrie has been named the security centre for next summer's G8 summit in Muskoka. "That will bring people and jobs to Barrie, he said. "I anticipate there will be a part-time labour pool of 200 initially to as high as 2,000."

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