A pair of Peterborough businesses are moving to a new, larger location in the city.
Steelworks Design and Kawartha Metals will be the tenants of a massive 112,000-square-foot facility on Fisher Drive.
The move allows both companies to create synergies together in one building, as Kawartha Metals supplies Steelworks.
“It’s twice as big as our current facility, almost 16,000 square feet, with 28-foot ceiling height. We do a lot of big structures and need the space,” said Rhonda Barnet, president and COO of Steelworks.
READ MORE: Peterborough companies seeing ripple effects of U.S. steel tariffs
For Steelworks, the move was long overdue. Barnet says the company outgrew its Cavan-Monaghan Township location a few years ago.
“We are growing and are actively involved in a growth strategy and this space gives us the capacity to grow in the City of Peterborough,” Barnet said.
Kawartha Metals is moving its three locations, including its yard on Harper Road, into the building. It’s the anchor tenant of the new facility.
“It will be good for Kawartha Metals and the eastern and central Ontario supply chain. It helps us expand our reach,” said Tom Elliott, president and CEO of Kawartha Metals.
The centre has 16,000 square feet of vacant space.
READ MORE: Peterborough businesses encouraged to prepare for growth from Highway 407
Peterborough Economic Development put out a business retention and expansion report in the spring.
Ninety per cent of the businesses in the report said they were satisfied with being in the region.
According to the report, many of those businesses also identified plans to expand and grow.
“We are positive about Peterborough and the Kawarthas as a great place to invest. Even that location where Steelworks and Kawartha Metals are moving is a result of individuals looking at this market and seeing a need so they brought those tenants in,” said Rhonda Keenan, president and CEO of Peterborough Economic Development.
Steelworks has already moved to the location, while Kawartha Metals plans to relocate this summer.
They will be joined by Havelock Metal, which is moving into a building around the corner on Major Bennett Drive.