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Cochrane is surrounded on all sides by the Township of Glackmeyer.
Cochrane has a population of about 5000 people, but that population is declining due to lack of employment. The main industries in Cochrane are the railway, tourism and lumber industries.
The town contains many references to polar bears, even though the town is much too far south to contain any actual wild polar bears.
The town's railway station is a part of the Ontario Northland Railway which provides frequent service to Toronto, in addition to several other northern Ontario communities. The railway provides the only form of ground transportation to Moosonee, Ontario. The popular Polar Bear Express train tour leaves Cochrane for Moosonee, and is a popular tourist activity.
It is the birthplace of Tim Horton, a hockey player who founded the Tim Hortons doughnut and coffee shop chain in Hamilton, Ontario in 1964.