OTTAWA — The small Ontario community of Smiths Falls is home to Tweed Inc. and its parent company Canopy Growth Corp., which make up one of the biggest licensed cannabis producers in the world.
Locals say the presence of a global company like Canopy Growth, which has a stock market value of nearly $14.7 billion, in Smiths Falls has had a big impact on the economy and the town’s optimism for the future.
The end of prohibition Wednesday for recreational weed is expected to benefit the company and, by extension, Smiths Falls, which has struggled through years of difficult economic challenges following the closures of major employers.
Here’s quick look at facts about Smiths Falls:
— 8,780: town’s population in 2016.
— 4.2 per cent: population change between 2011 and 2016.
— 9.3 per cent: unemployment rate in 2016.
— 3,475: people aged 15 and over who are not in the labour force.
— 800: number of people employed by Tweed in the town, according to the company.
— 190: residential units added in the town over the last 20 years, according to Smith Falls Mayor Shawn Pankow.
— 190: residential units expected to be added over the coming year, according to Pankow.
— 12 per cent: increase in housing values in the town compared to last year, according to real estate broker Jennifer Aunger-Ritchie, who is with Royal LePage Advantage.
The Canadian Press