Doing Business in Bancroft
For many, the idea of living where you play seems too good to be true. Working and living amid the lakes and forests that many have come to know as a holiday destination. Imagine a traffic jam free commute along winding roads lined with pines and granite. Or working from your home office with a hillside view. Doing business in Bancroft may be a more realistic dream than you think.
Within these pages, learn more about our business community and some of the opportunities waiting to be capitalized on. Find information on our economic development initiatives. If you have any questions, please contact the town office, we look forward to hearing from you.
Top 10 Reasons to do Business in Bancroft
1. Prime Location:
Bancroft is close enough to Ontario’s major centres to easily stay connected, and far enough away to feel free. The picturesque downtown is ideally located at the intersection of two of Ontario’s prime tourism corridors, with easy access to the 401. It has its own small airport, as well as shuttle service to major airports and urban centres, including Ottawa and Toronto. En route to the internationally popular Algonquin Park, Bancroft is a thriving tourist destination in its own right, with many festivals and events, such as the Rockhound Gemboree, which draw thousands of world-wide visitors each year.
2. Captive Market:
Don’t be fooled by its small town charm; Bancroft is a buzzing economic centre. In addition to the 150,000 tourists that visit the Bancroft area each year - which generate $19.5 million in revenue - the town is the retail and service hub for the entire North Hastings region. Because of its central location, Bancroft serves a captive market of approximately 60,000 residents in the primary and secondary catchment areas.
3. Growing Economy:
Since 2001, Bancroft has seen a 28% increase in job creation, nearly double the provincial average. There is a new worldwide trend to do business in the area you want to live, rather than the other way around. Now that most of the Bancroft region has high speed internet, more and more people are choosing Bancroft, not just because of the location and captive market, but also because it’s a fabulous place to live, with a growing economy.
4. Town Services:
Bancroft offers all the urban services you need, such as dentistry, optometry, special care and medical facilities including a local hospital; protective services including a local OPP detachment, fire department, and Emergency Medical Services; conveniences such as water, sewer, garbage and recycling pick up for residential, commercial and industrial waste; financial services, banks, postal and courier services, public transportation and all the basic services of any modern urban centre.
5. Business Incentives and Services:
Bancroft is open for business! Business incentives, such as loans, grants, waived fees, and tax assistance are made possible under the Town’s Community Improvement Plan. Business coaching from an Enterprise Facilitator is available, and supportive groups such as the Economic Development Committee, the Chamber of Commerce and the Bancroft Business Improvement Area committee offer seminars, networking events and support. Members of each group support each other's initiatives, and are committed to enhancing the growth and prosperity of Bancroft and the region as a whole.
6. Affordable Real Estate:
Be mortgage free sooner! Residential, waterfront, commercial, and industrial real estate in Bancroft often cost 25-75% less than in surrounding areas or urban centres throughout Ontario. Bancroft has several real estate brokerages including Royal LePage, Bowes and Cocks, Century 21, Re/Max, and more. There are a wide variety of properties available, from large waterfront acreages, to downtown commercial properties, to serviced industrial sites, and everything in between.
7. Development Ready Building Sites:
Bancroft is ready for development and has properties available in Ward 1, which is the urban core of the town, as well as Ward 2, which is primarily made up of undeveloped land, ideally suited to commercial and industrial development. The Town’s planning and building departments are focused on stewardship, and process applications and permits quickly.
8. Skilled Workforce:
Bancroft has a readily available and skilled workforce. The local Loyalist College campus offers courses in many disciplines and trades. Approximately 30% of the Bancroft area's population is between ages 25 and 64, and has post secondary education.
9. High-speed Internet:
Now you can do business anywhere - at the office, at home, in the backyard, or at the lake. The days of dial up and lack of high-speed internet service are over, thanks to the Eastern Ontario Regional Network, which has brought higher speeds and bandwidth to at least 95 per cent of homes and businesses in Eastern Ontario. The network delivers either broadband, or satellite service to Bancroft, thanks to the support of federal, provincial, municipal, and private sector partners.
10. Innovation and Sustainability:
The Town of Bancroft is focused on the future. Over the past few years, numerous studies examining Bancroft's population, demographics, industry, infrastructure, architecture, revitalization options, and economy have been conducted, resulting in various programs and strategies, including Bancroft’s Downtown Revitalization Project and Integrated Community Sustainability Plan. The Town has also developed a Community Improvement Plan which gives the municipality more creative options for supporting economic development, and actively supports the municipality's revitalization, redevelopment, and overall economic prosperity through strategic municipal planning.