Investment is Booming in Portage la Prairie

Investment is Booming in Portage la Prairie

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Portage la Prairie is experiencing a boom in investment with more than $1 billion in new investment announced in the last year.

Located along the Trans-Canada Highway, agriculture and other related services and processing are the backbone of the economy, making up more than 50% of the business industry. Real Estate is the second largest business industry, consisting of 14.3% of the industry. 

Portage la Prairie Industries Key Facts Demographics

 

 

 

 

 

 

Bring your business here!
As the fourth largest city in Southern Manitoba and the major service centre for the Central Plains region, Portage la Prairie is a great draw for customers looking for services and shopping. It is home to the only Walmart Superstore, Canadian Tire, Dufresne and Sobeys in the trade area. A great workforce, with approximately 350 companies and business currently operating in the city, Portage la Prairie is a stable self-contained market with its own employment.

SimplotSimplot recently announced that they are investing $460 million into their potato processing plant. The 280,000 sq. ft. expansion is expected to commence in Spring 2018. Manitoba Hydro is providing $1 million in PowerSmart funding for electrical and natural gas efficiencies. Simplot’s expansion will bring 120 new jobs to the region and will create even more economic opportunities.

Roquette groundbreaking
In September 2017, ground was broken for Roquette’s first pea processing plant in North America. The $488 million project is expected to create 200 jobs during the construction process. Once construction is complete in Spring 2019, 150 full time jobs will be created in order to operate the facility. The new plant will be the largest plant of its kind in the world and is one of the largest private-sector investments in the history of Manitoba. It is expected to produce approximately 130,000 tonnes of yellow peas annually.

Additional asset renewal projects are in the works which will provide increased value for the city. Projects planned include the replacement of the Island Park Bridge, nutrient removal from wastewater, renewal of Saskatchewan Avenue and construction of a new overpass just west of the city on Trans-Canada Highway #1.

Two factors will impact the Canadian industrial market significantly: environmental regulations (particularly in Alberta and Ontario due to carbon emissions costs) and potential renegotiations of NAFTA.  Vancouver and Toronto are two of North America’s largest industrial markets with a large portion of Canada’s industrial sales and leasing activities taking place. Sale prices and rental rates will continue to increase in these markets, making Portage la Prairie an affordable alternative.

With great potential for future development and growth, Portage la Prairie has approximately 394,637 acres of land available, 300 acres of which are designated for industrial land development. The land is considered to be affordable and the selling price per acre is negotiable. Located in the heart of the country beside the CN Railway and Trans-Canada Highway, Portage la Prairie is a viable alternative to larger markets, both economically and logistically.

Portage la Prairie residential developmentPortage la Prairie’s growth in residential development is related to the Roquette and Simplot investments. New immigrants are also attracted to Portage la Prairie due to employment opportunities, safety, cost of living and its close proximity to Winnipeg.  A six-acre parcel of land in the city’s southeast will soon be home to a new $25 million residential development with plans for a four storey, 128 suite apartment building and one or two storey townhouses comprising an additional 40 suites.

Recreational life in Portage la Prairie centers around The Island, created by an oxbow lake that was once part of the Assiniboine River. The Island offers a variety of activities including the Portage Golf club, tennis courts, an outdoor bandstand and Splash Island - a giant outdoor water park. Stride Place is also located on The Island and features the Shindleman Aquatic Centre with Manitoba’s largest indoor wave pool, two NHL regulation size arenas, a 4,000 square foot fitness centre and several other facilities that host conferences and trade shows.

“The most important attributes from a business opportunity standpoint are our central North American location, our diverse agricultural production capabilities, our wide array of food processing options, our progressive business attitude and our ability to provide quality water and wastewater services. Portage la Prairie residents are also extremely proud of their education system, health care services, multitude of recreational facilities, arts and culture opportunities, housing selection, service clubs, religious services and the range of media services. Wildlife also abounds in the area as it is home to one of the nation’s largest flocks of Canada Geese.” - Portage la Prairie Website

Portage la Prairie has plenty to offer investors, from a great location in the centre of Canada to affordable land prices to a wide-array of recreational sports and activities. Portage la Prairie truly is a “City of Possibilities”.

I am very proud to have grown up in Portage la Prairie, Manitoba. Our family owned and operated several businesses in the Portage la Prairie region. Working alongside my father and brothers at the family grocery taught me the value of hard work and the importance of helping others in the community. Those values helped form Shindico’s mission statement of Succeeding by Helping Others Succeed and are a vital part of everything we do at Shindico.

Sandy G. Shindleman, CCIM, SIOR, FRICS
President & CEO

 

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