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Woodstock Hits $100-Million in New Development for 2012

Thursday, 22 November 2012 10:26

Woodstock's Economic engine is firing on all cylinders right now. The city's 3rd quarter report shows over $103-million dollars in new development for the year, as of September 30th. Development Commissioner Len Magyar says the numbers are the best since the years the Toyota Plant was being built. "Over the past decade, this is already about the 4th best year and of course we're not to year end. On the industrial side, which is what I pay a lot of attention to, this is our 3rd best year, and a couple of those years were pretty skewed because of the Toyota work that went on." Magyar says the local economy is becoming more diverse, as some of the new construction taking place is non-automotive. That includes Nova Steel, Timberland, Execulink and Sysco (in photos) are all expanding or building new facilities in Woodstock. Magyar says that kinds of visible activity is only adding more fuel to the economic engine. "As they're (other companies) driving down the 401, they look one side and see the Execulink development and Nova Steel development, they look on the other side and see Sysco. So they get the sense that there's really something happening there, so if they're having some consideration of doing some type of development, Woodstock seems to pop up on their list." However, it's not industrial, but residential development leading the way this year with 70-million dollars in new homes being built. That's a good news story in itself, as Magyar says that means a growing population, and expanding workforce for the companies making an investment here.

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