History of Moncton
The area where the city of Moncton is located was settled initially in 1733, but the official founding date for the city is considered to be in 1766, when a number of Philadelphia immigrants of Dutch origins arrived here. At first it was an agricultural settlement, but eventually it was incorporated, in 1855. The name of the city was taken from that of Robert Monckton, a lieutenant colonel from the British Army which captured a nearby city and also took part in the Siege of Quebec battle in 1759, an event which saw France end its domination of her colonies from North America.
Moncton had a significant presence in wooden shipbuilding during the 19th century, which helped it become incorporated. Unfortunately, by 1860, this industry collapsed and two years later the charter of the city was lost because of it. It was gained once again in 1875, thanks to the railway industry, which helped the city get its economy back up. The headquarters of Canada’s Intercolonial Railway were established in the city of Moncton, which made it for one hundred years a railroad town. The locomotive shops of the CNR (Canadian National Railway) were closed during the 1980’s, which was the second large shock for Moncton since it was established, the first one being the shipbuilding industry collapse.
Though it was hit hard by the locomotive shops closure, Moncton’s economy grew again and recovered from it. These days, the economy of Moncton is more diversified and stable, mainly with a basis on commerce, retail, distribution and transportation, though it also has decent insurance, technology, financial, health care and educational sectors. The city’s unemployment rate is usually considerably smaller than the average on a national level. This growth of the city’s economy has kept going up and it’s easily seen in things like the opening of a new terminal at the city’s airport.