The Opportunity Calgary Investment Fund (OCIF) will receive an additional $60 million over the next four years to continue driving economic diversification and innovation in the city. Calgary City Council approved the new funding this week in $15 million annual tranches, drawn from the city’s Fiscal Stability Reserve.
OCIF CEO Brad Parry said the investment will help local companies scale, support talent development, and attract long-term economic opportunities. “This capital has to go in and create something new, bigger and better,” Parry told Live Wire Calgary.
Since its launch in 2018 with an initial $100 million, OCIF has spurred nearly $900 million in investment, created more than 3,000 jobs, and activated over 594,000 square feet of downtown office space. With only $6.8 million left in the fund, OCIF expects to exhaust the remaining capital by the end of 2025.
To ensure accountability, the new funding framework requires OCIF to submit annual progress reviews before each successive $15 million tranche is approved.
Leave a Reply