It's another sign that London's economy is on the upswing.
City hall has inked a land deal that promises more industrial jobs will be coming to a prominent industrial park in northeast London.
On Tuesday night, council finalized a deal to sell the seven hectare industrial lot for $600,000 to Dancor.
City documents reveal 40 full-time jobs will be created when a yet to be named product separation and recycling company locates on the property next year.
"Some of the people who have heard about it are really excited about it. A great news story for the northeast and all of London," says Councillor Mo Salih.
Dancor describes it as an innovative and growing company attracted to the general industrial zoning permitted near the airport.
"They want the ability to be able to store some raw product outside while they are getting ready to process it, and the zoning doesn' t permit that in Innovation Park where Dr. Oetker is for instance," says Dancor spokesperson Sean Ford.
Dancor's presence in northeast London is already huge, supplying industrial space to a wide variety of local and international businesses.
While much of city hall's focus in recent recent years has been on industrial growth near Highway 401, Dancor has been steadily growing its industrial campus in the Huron Street and Robin's Hill Road area.
Salih says access to both the airport and Veterans Memorial Parkway will always have a draw to specific employers.
"There are always going to be opportunities all across the city and I think this is just one example," adds Salih.
Dancor adds that while this project is its newest, it's only one of several pojects they are planning in northeast London.
