The 23-year old joins from League 1 rivals East Fife who had been keen to keep a hold of him after he scored six goals in League 1 last season and one in the Scottish Cup having been the Bayview side's top scorer the season before.
Speaking to Falkirk TV, Dowds discussed his thoughts on his new managers and hopes for the season ahead: “It’s probably the perfect combination for me as a striker.
"You get to learn from Lee as a fellow striker, but you can learn from David as a centre half too and learn what he doesn’t like to play against.
“We’re under no illusions, the objective is to get up this year.
"That’s the sort of thing that sold me with Falkirk, the managers are under no illusions that’s what we want to do as a club, we want to get up and I want to be part of that. That ambition is something that made me really interested in coming to Falkirk.”
The front-man started his career with East of Scotland university side Herriot Watt, while undertaking his academic studies.
During his time in Edinburgh he impressed with his work ethic and desire to improve, which culminated in him finding the back of the net 50 times in his final season.
That form earned him a move to East Fife, who rewarded him with a part-time contract, following a pre-season trial with the team. He found the net against The Bairns shortly after, in the 2018 Betfred Cup and also impressed against Falkirk last season, catching the eye of Lee Miller and David McCracken.
Dowds becomes the second new recruit for Falkirk managers David McCracken and Lee Miller, following the recent capture of full-back Blair Sneddon.