Construction is underway at Moncton’s fourth industrial park. The new 124-acre Moncton East Business Park 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 was completed in the fall of 2021, providing direct eastbound access to the twinned highway.
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. The first half of the park was completed by the end of 2019, and the southern hal
f was fully serviced by the end of summer 2020.
Cost is an important consi
deration 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 celebrated 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.