Small and medium-sized companies play a vital role in developing innovative products and services that contribute to a more diverse Prairie economy. The Government of Canada is investing in initiatives that help businesses across key sectors in Alberta to grow and create jobs workers can depend on.
Today, George Chahal, Member of Parliament for Calgary Skyview, on behalf of the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of more than $6.1 million for two initiatives to enhance the competitiveness of small- and medium-sized businesses in the Calgary region.
The City of Calgary is receiving over $3.1 million to establish a Technology Integration Centre in currently unoccupied office space in downtown Calgary.
The Centre will serve as an innovation hub where Calgary-area businesses can test, refine, and showcase their technologies in frontline city operations. Innovators will be able to demonstrate how their solutions can benefit cities around the world while allowing Calgary to potentially transform how it delivers services to residents.
This project is expected to support the growth of approximately 100 local technology firms and more than 180 jobs, while supporting the City’s vision of being one that is underpinned by innovation.
Calgary Economic Development is receiving $3 million to increase foreign direct investment and business retention activities over the next three years.
Key highlights include a new program to help businesses in the technology sector to market themselves to top talent, as well as a new international student recruitment program; international missions to help promote Calgary on the global stage; business development tools such as a new database for industry to share investment opportunities in key sectors; and collaboration with Edmonton Global and Economic Development Winnipeg to showcase the Prairies as a place for companies to locate and invest.
This project is expected to assist 200 local businesses and lead to the creation of about 900 jobs.
In total, today’s investments are expected to lead to more than 1,000 jobs while assisting approximately 300 small- and medium-sized firms, with an anticipated $800 million in foreign direct investment over four years.