Cavendish Farms planning to build potato processing plant in LethbridgeLots of Jobs Available
Today there was an announcement that one of the largest food production companies in Canada is building a new plant in Lethbridge. This will mean many jobs in construction and the trades for the next 2 years as the factory is built, and then a large number of jobs working in the factory thereafter. It is projected that the factory will employ nearly 400 people once it is up and running.
Add to these jobs the number of secondary or spin off employment that is created when 400 families move to our city, and it is a huge number of jobs. Those 400 new employees will need housing, groceries, daycare, recreation, etc. Realistically, probably another 1000 jobs are created just to serve the needs of 400 new families.
This is also great news for our real estate market. The lethbridge rental market will see a drop in the vacancy rate as many tradespeople will come for just 2 years to help build the plant, and then the new employees will all need either rental properties or single family homes once the factory is running. This would be huge, if you were to take 400 properties out of our market right now, both rental and for sale, there would be nearly nothing left.
If you are a real estate investor and are wondering if now is a good time to buy real estate in Lethbridge, we both know the answer already. Our market is well below Provincial and National average pricing, yet we have one of the most stable and reliable economic bases of anywhere in the world. We do not get the boom and bust cycles here, we get slow steady growth. If you want to talk about rental property or investment property get in touch with me, I have been involved in helping to buy and sell and manage rental property in this city for over 23 years.