fine foods manufacturers

ECONOMIC DEVELOPMENT IN THE CITY OF CAMBRIDGE YEAR-END REVIEW 2007 Businessupdate February 2008 CAMBRIDGE ONTARIO · CANADA www.cambridge.ca Food&Drink Cambridge Fine Foods also produces its own products under its own brand names. The Country Traditions brand includes a wide variety of pies and entreés. Cambridge Fine Foods’ second brand, El Ranchero burritos, was launched with special flair in July, 2006 between innings at a Blue Serving the retail grocery and food service Jays home game at the Rogers Centre. community for the last 15 years, Cambridge Fine Foods has become Cambridge Fine Foods’ 27,000 an industry-leading processquare foot food processing facilsor of value-added food ity is federally inspected, products. The USDA approved, with a firm specializes HACCP (Hazard Analysis in quality frozen and Critical Control meals including Points) designation. specialty pies, “We have made a big burritos and investment in making wraps, entreés this facility efficient and quiche dishes – in order to reduce produced and packproduction costs and lead aged under brand names time,” says Pieter deJonge, sold at many local grocery president of Cambridge Fine Foods. store chains. The company ...continued on page 2 Whether relocating, expanding or forging new opportunities, Cambridge is a great place to do business. For professional assistance with your business needs, contact the Economic Development staff at 519·740·4536. IN THIS ISSUE PROFILE ON: Cambridge Fine Foods Value-added packaged food products in your local grocery freezer. Grand River Brewing Old Galt factory building new home of micro-brewery. Each week when you visit your local grocery store and load your cart with packaged meal products, you may not realize you are selecting products manufactured right here in Cambridge – by Cambridge Fine Foods. Grand River Gourmet Foods Innovative 'nutraceutical' chocolate products. 2007 Award Winners page 5 Building Activity Statistics pages 6 & 7 The Corporation of the City of Cambridge Bozena “Bo” Densmore,    Leah Bozic,                           Debbie Fee,              Barb Turner,             Jacqueline Haynes, Director of Economic Development ext. 4511 densmoreb@cambridge.ca Senior Economic Development Officer ext. 4535 bozicl@cambridge.ca Special Projects Officer ext. 4592 feed@cambridge.ca Administrative Assistant ext. 4211 turnerb@cambridge.ca Clerical Assistant ext. 4678 haynesj@cambridge.ca Cambridge City Hall: On Time and On Budget By Cambridge Corporate Communications Division the quality of the environment for employees and visitors to the building. There is even a 10,000 litre grey water cistern system that will collect storm water from the roof to recycle it for toilet operations. Operational savings and workplace quality and productivity benefits aren’t the only good news about the building. The Accomplished without need for new tax dollars, the entire cost of the $30 million project is being financed through the City’s hydro utility. The new administration headquarters will also save the city money. A portion of the roof will be made up of plants, grass and shrubs, creating a “green roof” concept that retains heat in the winter and cools in summer. This results in a 43 percent saving in energy costs which amount to some $50,000 per year savings for heating and air conditioning. Features like a green wall filled with living plants act as a biofilter to purify the indoor air and improve Ready for occupation in mid-February 2008, the new City Hall encourages car-pooling and bicycling options. There will be 250 work stations for staff and a variety of meeting rooms for the public. Cambridge residents and business For more information visit: www.cityhall.cambridge.ca The new building opened to the public on February 11, 2008 with an official community ceremony slated in early June. City of Cambridge will no longer have to pay nearly a half million dollars per annum in leasing cost for offices at Cambridge Place. The power of utilizing existing financial resources and an innovative approach to construction and development has come together to create one of the finest, environmentally responsible City Halls in the country. The new four-story, 85,650 sq. ft. building was constructed with Leadership in Energy and Environmental Design (LEED) as a focus and is expected to be the first LEED 'GOLD' certified City Hall in Canada. leaders will also benefit from enhanced civic square amenities that will facilitate outdoor events and public gatherings in more than 170,900 sq. ft. of community space. But his plans for the future are even more ambitious. He would like to double sales within the next two years. Part ...continued from page one of that revenue will come from brand line expansion. The Cambridge Fine Foods' investment and reputation for quality company will be launching a new line of breakfast products and innovation has been recognized by several industry awards in the coming months. This new line includes a packaged breakfast sandwich that will be sold exclusively at Costco, as including: well as a line of breakfast wraps and pies. “This line of break- Innovative Supplier of the Year award from Loblaw Companies Ltd. - Best New International Flavour from the Private Label Manufacturers fast products fills a void in our product range,” says deJonge. “Each item will be available in a variety of flavours and Association (PLMA) will promote the convenience of cook times - Finalist in the Product of the Year Grand Prix awards for of less than two minutes.” Masters Choice Cambridge Fine Foods needs to be aggressive to keep its leadership position. “The market for frozen packaged foods is becoming more competitive, with domestic food producers selling more at home because of the high dollar,” says deJonge. “However, I believe we are in a strong position with a good reputation in our markets. Our location “This involved a big commitment, and a large investment in Cambridge really gives us a strategic advantage. We have a of capital to purchase state of the art production equipment, great workforce to draw from and an enviable location as a base for distribution.” sourced from as far away as Holland.” deJonge joined Cambridge Fine Foods as president of the company in September, 2005, bringing with him extensive experience in the food production industry including expertise in farming, processing and final packaging. He immediately set out to make the operation more efficient. Page 2 Cambridge Fine Foods Grand River Brewing The old Galt Knife building at 295 Ainslie Street is The small brewer on Ainslie Street is quickly gaining popuenjoying a new lease on life. It is the new home to larity in the local market with their popular brands being Grand River Brewing, a micro brewery with a full made available on-tap at many local bars, traditional pubs and complement of products and great big plans. restaurants. Nor is success limited to Cambridge and the local market. Hanenberg is now distributing Grand River’s brands The history of the Galt Knife building dates back to as far away as Toronto, Niagara Falls and Ottawa. 1913. It is a building typical of industrial buildings of the era – with double red brick construction and large windows. Early in 2005, Bob Hanenberg, owner of Grand River Brewing, began his search for equipment and a location to set-up his brewing business. After a year of searching, he discovered the Galt Knife location. Adding to its attractiveness is the fact the building gained a more prominent position when it became a street front location with the extension of Ainslie Street. “I just knew the unique character of the building, coupled with the streetfront location would draw customers. I sensed the building was perfect from the moment I walked in the door,” says Hanenberg. Bob Hanenberg of Grand River Brewing with the 1.9 litre 'growler' bottles of his Galt Knife Old Style Lager and popular Plowman's Ale. The property was purchased in February 2006 and work began to convert the facility from a manufacturing site to “Word is spreading fast about our products,” he says with a brewery, and Grand River Brewing opened its doors for pride, and credits the Internet for the word-of-mouth spread business in June, 2007. The small local brewer has a large on their popular beers. “We attended a show earlier this year, and people start to talk about our beers in chat discussions and blogs,” says Hanenberg. “And the next thing we know we’re getting calls from restaurants and bars all over Ontario wanting to buy our beers.” Hanenberg credits some of Grand River’s success to the local Artesian well water supply. “The high mineral content of the local water is excellent for making good ales,” he says. “Our biggest challenge has been getting the right mixture of hops to work with the water.” repertoire already, with a full range of beer selections – all with names inspired by the brewery’s Galt heritage -- including Mill Race Mild, Galt Knife Old Style Lager, Town Hall Lager, and the popular Plowman’s Ale. “All our selections have their own unique character and flavour – and less than 5 percent alcohol content,” says Hanenberg. The beers are available to the public in a 1.9 litre ‘growler’ package today, and there are plans to bottle in a standardized size with the hope the lines will be picked up by the LCBO. Today, Grand River Brewery’s 7,800 square foot location can produce a targeted 500,000 litres of beer, with most of the product being sold in 50 litre kegs destined for delivery to bars and restaurants. Future plans involve an expanded retail presence, on-site demonstrations and tours, as well as meeting and conference facilities at the 1913 factory location. Page 3 Grand River Gourmet Foods The first manufacturer licensed to produce 'nutraceutical' chocolate products. Grand River Gourmet Foods is a specialty food manufacturer based in Cambridge. The company was born following the sale of President and founder, Becky Smollett’s first business venture, The Basket Connection. Grand River Gourmet manufactures and packages a full line of private labeled candy and chocolate products for retailers and distributors. Buyers can purchase a range of confection lines from the company’s wholesale catalogue including candy kabobs, white chocolate coated popcorn, ‘crunch’ gummies and sour poppers. Smollet’s new venture really started to take off with four awards at the 2001 Canadian Fine Food Show – including a first place for Grand River Gourmet’s best selling ‘Chocolate Pizza,’ a confection consisting of creamy milk chocolate, rice krispies and marshmallows drizzled with toffee pieces. ginseng in order to give them therapeutic and medicinal properties. Grand River Gourmet Foods has recently introduced a nutraceutical line which includes a private-labeled chocolate bar with medicinal additives to make it ‘heart-healthy’ and safe for diabetics to consume. “We are very excited about this part of the business,” says Becky Smollett. “We see this as a strong growth area for our company.” As a result of its entry into the nutraceutical market, Grand River Gourmet Foods is also the first chocolate company in Canada to be Natural Health Products (NHP) certified. A company must meet a list of strict criteria to be certified. The company is also a recognized ‘peanut-free’ manufacturing facility. Smollett is passionate about her candies, and in particular her chocolates. She buys chocolate from all over the world and in particular from South and Central America. “Each chocolate brand has its own particular taste and texture,” says Smollett, with the passion of a true conGrand River Gourmet currently occupies noisseur. “We blend chocolate from dif10,000 square feet along Sheldon Drive Becky Smollett, President of Grand River Gourmet Foods. ferent regions to produce unique flavours in Cambridge – divided into two separate – much like a wine maker blends grapes locations. One location is devoted to co-packaging operations to produce a certain type of wine.” with companies such as Schneiders, where Grand River Gourmet is responsible for the addition of a chocolate or candy compo- “Our location in Cambridge is a real benefit,” says Smollett. nent to such products as Schneider Smart Lunch product line. “With access to research facilities and in the heart of agribusiness The second location is devoted exclusively to the manufacture of in southwestern Ontario, it is a great place to do business.” chocolate products. Grand River Gourmet’s products have been sold in Sam’s Club, Zellers, Home Outfitters, Sobeys and Laura Secord, and in destinations as far away as Europe and Asia. Grand River also enjoys the honor of becoming the first chocolate company licensed to produce ‘nutraceutical’ products. Nutraceuticals are products formulated with additives such as Page 4 Small Business Information Nights for 2008 The Economic Development staff will be at the Cambridge Centre Mall for "Small Business Information Nights" on April 30th, Sept. 17th and Nov. 26th, 2008 from 3:00 p.m. - 9:00 p.m. Staff will display and distribute small business literature and brochures, answer questions and provide assistance to existing small business owners and potential entrepreneurs. A Word from theWaterloo Region Small Business Centre In 2007, the Waterloo Region Small Business Centre assisted approximately 4100 aspiring entrepreneurs in Cambridge by providing small business information and guidance, a resource library, Internet usage for business purposes, as well as one-onone consultations for business planning and market research. Seminars and workshops are held throughout the year dealing in topics such as business startup, planning, market research and cash flow. For a list of upcoming seminars offered throughout the Waterloo Region and related fees, please visit the Small Business Centre’s website: www.waterlooregionsmallbusiness.com Each year the Centre facilitates two youth entrepreneurship programs: The Business Plan Competition and Summer Company. The Business Plan Competition is open to any full-time high school student aged 15-20 who has an interest in business planning. Submissions for this year’s competition are accepted until June 20, 2008. Summer Company enables students ages 15-29 to operate their businesses from May to September. Students who are accepted into the program receive an award up to $1500 at the beginning for start-up costs and up to $1500 at the conclusion of the program. Students also receive training and mentoring from individuals in the business community. Applications are accepted until early April, 2008. For more information or to start an application online, visit: www.summercompany.ca In 2007 the Centre introduced the first annual Inspiring Women – The Experience event. The professional and personal development day for local women provided an opportunity to network, listen to six motivational speakers and enjoy a keynote address from Dini Petty. For more information on the Inspiring Women event occurring again this fall, visit: www.iiiforyou.com. Advanced Manufacturing Expo 2008 International Centre Mississauga, March 26 & 27, 2008 Built on 4 pillars of value: innovation, education, networking, and an environment promoting the buying and selling of manufacturing solutions, AM Expo 2008 allows you to discover on the exhibition floor; learn and discuss applications in the education programs; buy the solutions you need, as you advance your knowledge, and your business objectives. For more information go to the Society of Manufacturing Engineers website at www.sme.org and look under the upcoming events section for full details on the event. 2007 Award Winners Hospital President Honoured Cambridge Memorial Hospital president Julia Dumanian was honoured with the 2007 hospital leadership award, as chosen by Canadian Healthcare Manager Magazine. Dumanian came to Cambridge Memorial in 2004. Recognition for Environmental Stewardship Cambridge based Challenger Motor Freight was honoured with a Plaque of Environmental Stewardship by the Ontario Trucking Association. The award is in recognition of Challenger's new 'smog-free' truck launched in fall 2007. The truck is equipped with a trap which filters up to 90 percent of the microscopic particulate known to cause smog. Insurance Company Award Winner The Cowan Group, a Cambridge-based insurance and benefits company won the corporate citizenship award, sponsored by Union Gas at the 23rd Annual Junior Achievement Awards Banquet held on November 2, 2007. CTT Wins Communications Award Canada's Technology Triangle received a 2007 Marketing Canada award for best 'Direct Communications' from the Economic Developers Association of Canada. The award was presented at EDAC's (Economic Developers Association of Canada) 39th Annual Conference in Saskatoon. Official Launch of the Cambridge Corporate Centre Cambridge Mayor Doug Craig and officials of the Belmont Equity Group were present for the official launch of the Cambridge Corporate Centre located at 650 Jamieson Parkway on November 1, 2007. The official ribbon-cutting announces the opening of Homewood Suites, a development of Hilton Hotels on September 4, 2007. The facility at 800 Jamieson Parkway features residential style accommodations, with full kitchens and living areas for guests. Page 5 ESTIMATED VALuES FOr PErMITS ISSuED FrOM JuLy 1, 2007 TO DECEMBEr 31, 2007 (PrOJECTS LISTED ArE ThOSE wITh CONSTr uCTION VALuES OF $50,000 AND OVEr) BuILDING ACTIVITY INDUSTRIAL BUILDING ACTIVITY ToTAl SIx monTH vAluE of $22,366,900. APPRoxImATE ConSTRuCTIon vAluE BuIlDInG PERmIT ISSuED PRoJECT BuIlDInG PERmIT ISSuED PRoJECT APPRoxImATE ConSTRuCTIon vAluE Hopewell Development Corporation 500 Pinebush Road 10,486 sq.m. (112,874 sq.ft.) construction of new industrial mall Cambridge Hyundai 1962 Eagle Street 1,487 sq.m. (16,003 sq.ft.) construction of new Hyundai car dealership Karanda Properties 1245 Franklin Blvd. 4,550,000. 4,132 sq.m. (44,475 sq.ft.) renovation to storage units and office 250,000. 2,000,000. WPW Properties ltd. 4 Cherry Blossom Road 3,275 sq.m. (35,248 sq.ft.) addition to Precision Resource Canada Ltd. Racer machinery Co. ltd. 25 Fleming Drive 272 sq.m. (2,932 sq.ft.) addition of warehouse 160,000. 150,000. At Work Development ltd. 545 Thompson Drive 3,018 sq.m. (32,485 sq.ft.) construction of a new warehouse Region of Waterloo 460 Conestoga Blvd. 1,794 sq.m. (19,311 sq.ft.) construction of addition to storage garage 2,000,000. 1530853 ontario ltd. 315 Thompson Drive 157 sq.m. (1,689 sq.ft.) interior renovation to factory building langton Properties ltd. 405 Maple Grove Road 398 sq.m. (4,284 sq.ft.) interior finishes to warehouse falkirk Holdings Inc. 505 Thompson Drive 2,504 sq.m. (26,954 sq.ft.) interior finish to warehouse 2,000.000. 125,000. The men’s Warehouse 550 Boxwood Drive 600 sq.m. (6,458 sq.ft.) interior renovation for dry cleaning facility within the warehouse Plad Properties Inc. 1600 Industrial Road 2,444 sq.m. (26,312 sq.ft.) construction of multi-tenant industrial building 1,600,000. 85,000. 1,500,000. 50,000. 2125702 ontario ltd. 475 Thompson Drive 1,864 sq.m. (20,067 sq.ft.) construction of new industrial mall mGD Holdings 540 Thompson Drive 1,461 sq.m. (15,727 sq.ft.) construction of new industrial mall 1,500,000. INSTITUTIONAL BUILDING ACTIVITY ToTAl SIx monTH vAluE of $3,382,000. BuIlDInG PERmIT ISSuED PRoJECT APPRoxImATE ConSTRuCTIon vAluE 1,200,000. JJZ Developments Inc. 44 Saltsman Drive 2,321 sq.m. (24,497 sq.ft) construction of new multi-tenant industrial building Toyota motor mfg. Canada Inc. 1055 Fountain Street a) Minor renovations to dock doors, truck apron, relocation of one exit door, etc. b) 18 sq.m. (192 sq.ft.) construction of four new loading docks in north weld shop. c) 36 sq.m. (388 sq.ft.) construction of new Kanban Room Pride Bodies ltd. 37 Raglin Road 1,421 sq.m. (15,300 sq.ft.) addition to existing building 1,100,000. Cambridge memorial Hospital 700 Coronation Blvd. Renovation to staff entrance, stairs and ramp. New site work, parking lot and alterations to brick cladding Avenue Road Baptist Church Inc. 465 Avenue Road 735 sq.m. (7,910 sq.ft.) addition to existing church Conseil Scolaire De District Catholique Centre-Sud 640 Trico Drive 229 sq.m. (2,460 sq.ft.) renovation of lunchroom to daycare facilities 2,000,000. 896,000. 915,000. 500,000. 55,000. 175,000. 500,000. new Cambridge Holdings Inc. 685 Myers Road 216 sq.m. (2,328 sq.ft.) interior finishing to Jumping Jack Child Care Inc. 140,000. Saint luke’s Place 1598-1624 Franklin Blvd. 19 sq.m. (200 sq.ft.) construction of two barrier free washrooms Ben lea leasing ltd. 36 Corydon Place 877 sq.m. (9,440 sq.ft.) construction of metal clad steel addition to existing building 2004191 ontario ltd. 24 Cherry Blossom Road 257 sq.m. (2,766 sq.ft.) interior renovation for office space Dimplex north America 1367 Industrial Road 844 sq.m. (9,090 sq.ft.) renovation to office space Tamming foods ltd. 40 Stafford Court 441 sq.m. (4,750 sq.ft.) interior renovation to warehouse 400,000. 50,000. 400,000. 323,000. RESIDENTIAL BUILDING ACTIVITY foR THE yEAR 2007, 514 unITS WERE ConSTRuCTED foR A ToTAl ComBInED vAluE of $40,391,820. 285,900. Page 6 ESTIMATED VALuES FOr PErMITS ISSuED FrOM JuLy 1, 2007 TO DECEMBEr 31, 2007 (PrOJECTS LISTED ArE ThOSE wITh CONSTr uCTION VALuES OF $50,000 AND OVEr) BuILDING ACTIVITY COMMERCIAL BUILDING ACTIVITY ToTAl SIx monTH vAluE of $10,777,535. APPRoxImATE ConSTRuCTIon vAluE BuIlDInG PERmIT ISSuED PRoJECT BuIlDInG PERmIT ISSuED PRoJECT APPRoxImATE ConSTRuCTIon vAluE mattamy Commercial Centre 500 CanAmera Parkway 1,216 sq.m. (13,086 sq.ft.) construction of new commercial retail plaza City of Cambridge 745 Fountain Street 50 Dickson Street 54 Ainslie Street TDl Group ltd. 209 Pinebush Road 3,000,000. Sreit (Central no.1) ltd. 5 Cherry Blossom Road 1,087 sq.m. (11,700 sq.ft.) interior finishing to office space first Capital Realty Inc. 1 Hespeler Road 44 sq.m. (478 sq.ft.) addition for restaurant CanAmera medical Centre 350 Conestoga Blvd. a) 134 sq.m. (1,442 sq.ft.) interior finishing for The Basil Cafe b) 138 sq.m. (1,484 sq.ft.) interior finishing to dental office 120,000. 100,000. a) 3,890 sq.m. (41,873 sq.ft.) construction of indoor 1,500,000. soccer facility b) 198 sq.m. (2,132 sq.ft.) addition of glass connection from new City Hall to Historic City Hall c) 204 sq.m. (2,200 sq.ft.) renovation to Cambridge Self Help Food Bank for additional office space and training area 271 sq.m. (2,913 sq.ft.) interior renovation to Tim Horton’s Restaurant 1,100,000. 100,000. 97,300. 197,000. Sep Holdings ltd. c/o Region Wide Realty 300 sq.m. (3,229 sq.ft.) interior renovations to Red 561 Hespeler Road Papaya restaurant Woodland Park Plaza Inc. 100 Jamieson Parkway 186 sq.m. ( 2,000 sq.ft.) renovation to restaurant 320,000. Jamieson Estates 900 Jamieson Parkway 235 sq.m. (2,530 sq.ft.) interior finishing for new health/fitness clinic langs farm village Association 650 sq.m. (7,000 sq.ft.) interior office renovation Cambridge II Inc. 55 Pinebush Road 100,000. 80,000. 400,000. Cambridge Place Commercial Corp. 73 Water St. N. 204 sq.m. (2,197 sq.ft.) interior renovation to office space Smart Centres 34 Pinebush Road a) 1,136 sq.m. (12,227 sq.ft.) interior renovation to “Urban Planet” b) 687 sq.m. (7,395 sq.ft.) interior finishing to retail space 80,000. 300,000. 135,000. 80,000. 1167898 ontario ltd. 140 St. Andrews Street 133 sq.m. (1,400 sq.ft.) interior renovation to Subway restaurant lone Wolf Holdings Inc. 231 Shearson Crescent. a) 444 sq.m. (4,781 sq.ft.) interior finishing to office unit b) 141 sq.m. (1,516 sq.ft.) interior finishing to office unit c) 139 sq.m. (1,494 sq.ft.) interior finishing to office unit d) 119 sq.m. (1,282 sq.ft.) interior finishing to office unit 250,000. 191,000. 61,000. 60,000. 51,000. 130 sq.m. (1,394 sq.ft.) interior finishing to retail unit 68,000. 742825 ontario ltd. 20 Hobson Street 74 sq.m.(800 sq.ft.) construction of kitchen and dining area addition to restaurant Century 21 Watson Realty ltd. 320 Pinebush Road 200 sq.m. (2,153 sq.ft.) interior office renovation South Cambridge Shopping Centre Inc. 200 Franklin Blvd. 224 sq.m. (2,416 sq.ft.) interior alteration to existing “Pizza Pizza” restaurant Capital management Corp. 970 Franklin Blvd. 109 sq.m. (1,170 sq.ft.) interior finishing to retail establishments 60,000. 60,000. morguard Real Estate Investment Trust a) 215 sq.m. (2,315 sq.ft.) interior alterations to retail unit 168,000. 355 Hespeler Road b) 525 sq.m. (558 sq.ft.) interior renovations to the Candy Counter Inc. c) 187 sq.m. (2,017 sq.ft.) interior renovation to retail outlet “The Source” Sorma Group 560 Hespeler Road 130 sq.m. (1,400 sq.ft.) interior finishing to sushi restaurant 90,000. 50,000. 60,000. 50,000. 150,000. 150,000. TOTAL SQUARE FOOTAGE CONSTRUCTED BY SECTOR FOR 2007 InDuSTRIAl - 1,009,452. SQ. fT.* CommERCIAl - 178,665. SQ. fT.* InSTITuTIonAl - 18,320. SQ. fT.* *SQ. fT. REPRESEnTS nEW ConSTRuCTIon AnD ADDITIonS only Bridgecam Shopping Centres ltd. 34 Pinebush Road 494 sq.m. (5,311 sq.ft.) interior finishing to retail space new Cambridge Holding Inc. a) 169 sq.m. (1,820 sq.ft.) interior renovation for dental office 130,000. 685 Myers Road b) 109 sq.m. (1,170 sq.ft.) interior finishing for hair salon 80,000. Page 7 CTT Celebrates 20th Anniversary Canada's Technology Triangle Inc. (CTT Inc.) marked a major milestone in 2007 – the 20th anniversary of the establishment of co-operative marketing, promotion and investment attraction efforts in Waterloo Region. In 1987, local economic developers joined forces to attract new businesses and selected Canada’s Technology Triangle (CTT) as the name to describe Waterloo Region and their combined effort. In the late 1990s, CTT was incorporated as a not-for-profit public-private partnership with its core funding provided by the Region of Waterloo and the three cities of Kitchener, Waterloo and Cambridge. CTT Inc. has become the go-to organization for businesses outside the Region looking for a new location. Over the years, the organization’s targets have evolved. Though manufacturing investment remains important, research-intensive activity is a growing dimension. The focus on information and communication technology, financial services, nanotechnology and quantum information reflects the new strengths of the area. Many businesses are attracted to Waterloo Region because of the talent pool associated with the excellence of the area's post-secondary educational institutions. CTT Inc. undertakes research and analysis into trends in the regional economy, and uses that data to make the area's business case. CTT Inc. is proactive, reaching out to businesses and demonstrating that they have many good reasons to come to Waterloo Region. Close collaboration among local municipal governments has resulted in the success of the concept of Canada’s Technology Triangle. These partnerships continue to thrive because of the trust that has been built over CTT Inc.’s 20year existence. In the latter part of 2007, CTT Inc. also welcomed John Doherty, a Cambridge resident, as its new board Chair. John is the managing partner of the Waterloo Region office of the Gowlings law firm. John Doherty CTT Inc. is committed to its role of making the Region and its assets known around the world and the organization has proven itself as a highly-effective model. Looking to the future, one aspect that constantly changes is where CTT Inc. should put its emphasis in terms of the principal opportunities for new investment. The group sees the environment and alternative energy sources, such as wind energy, as emerging priorities. It is becoming more evident that Waterloo Region's advantages centre on talent, skills, intellectual capital, receptivity to innovation and an entrepreneurial spirit – all areas that CTT Inc. will promote as the Region continues to expand. With a proven background, strong partnerships and focused leadership, CTT Inc. is assured of playing an ever-expanding role in shaping the Region's economic future and its prosperity. A COMPARISON OF BUILDING PERMIT VALUES BY SECTOR SINCE 2003 Page 8