Toronto firm is investing in northern Ontario town

A Toronto-based development company called KPGI says it has a vision for the town of Cochrane and the future as a modern hub for sustainability.

"To let them show their brains off about how effective a rural or remote community can be. It's putting itself squarely in the position to be highly innovative, highly attractive," said Marc Kealey, the firm's president.

He said global investors are looking for communities that can become what he calls 'smart villages' that can sustain themselves with food, energy, technology and healthcare.

And, with the pandemic highlighting an overreliance on other countries, the Cochrane Board of Trade wants to build the first self-reliant small town in Canada.

"This is the most exciting, most historic event that I think we've ever had the opportunity to be a part of. It offers growth for our community, it offers hope for the children growing up right now," said the board of trade’s Frank Louvelle.

The project will start by bringing indoor vertical farming to the town and will include the construction of a digital currency facility.

And the town’s mayor is excited about future prospects.

"The vision is hub Cochrane, but not just Cochrane, it's the whole north," said Denis Clement.

Officials said partnering with an Indigenous-owned private equity fund makes this project especially unique, ensuring that area first nations are on equal footing.

"We need to ensure that our communities have every opportunity to use that technology to the fullest of their capabilities." Keith Matthew, of the Indigenous Critical Infrastructure Fund.

The development company feels this project will see global investments in the hundreds of millions of dollars, and if Cochrane can pull it off, the town will be a national success story.

"Other communities across this country are going to chomp at the bit to say I want this in my community as well,” said Kealey.

The project is expected to have its first facility in place within the next year.