Alberta’s Investment and Growth Fund has been helping to secure private-sector investments in the province since 2021 and Budget 2024 proposes to build on this success with an additional $15 million. This deal-closing incentive is unique in Canada and increases Alberta’s ability to compete for investment.
Supported by the Investment and Growth Fund, Fortinet’s new downtown Calgary facility will create an estimated 85 permanent and 80 temporary jobs. This is in addition to the company’s 50 existing positions in Alberta.
“Alberta’s government has created an investment-friendly environment with policies and programs that support companies like Fortinet in choosing to expand in our province. With the lowest corporate tax rate in Canada, a highly skilled workforce and investment incentive programs like the Investment and Growth Fund, businesses can feel confident about investing in the province.”
The Investment and Growth Fund has helped create around 900 permanent full-time jobs and 500 temporary jobs as private companies have invested a total of about $400 million in capital costs. Fortinet’s investment in Calgary will continue to help grow and develop the local tech scene as one of the best in North America and is supported by approximately $3 million in IGF funding.
Alberta’s technology and innovation sector is growing, and Alberta’s government is keeping pace with this expansion through post-secondary programs that support and promote tech careers for all Albertans, including women and underrepresented groups.
“There has never been a better time to invest in Alberta and this latest investment shows that Alberta is a major player in the tech industry.”
Brad Parry, Calgary Economic Development; Dr. Raynie Wood, SAIT; Rick Christiaanse, Invest Alberta Corporation; Matt Jones, Minister of Jobs, Economy and Trade; Nate Glubish, Minister of Technology and Innovation; Gordon Phillips, Fortinet; and Joyce Chow, Fortinet.
“Alberta’s post-secondary system is training the future technology sector workers that companies like Fortinet need. As the world around us evolves, we will continue to ensure Alberta workers have the skills and knowledge they need to meet the labour market demands of tomorrow.”
Fortinet has also collaborated with post-secondary institutions, including the Southern Alberta Institute of Technology (SAIT), Northern Alberta Institute of Technology and University of Alberta, to support students in choosing careers in technology. Their new facility in downtown Calgary will provide a home base for Fortinet employees in Alberta and features a cybersecurity centre of excellence where local customers can see and test out world-class cybersecurity technologies and solutions.
Alberta’s government worked collaboratively with Invest Alberta Corporation to provide investment attraction services to Fortinet as they expand their footprint in Alberta.
The company’s choice to grow their Alberta operations supports the government’s commitment to ensuring downtown Calgary remains a vibrant, diverse and safe place for businesses and community members to succeed for years to come.
“As a global leader in cybersecurity, Fortinet is committed to protecting and empowering communities right here in Alberta, while fostering innovation and excellence. Our expansion in Calgary directly contributes to creating valuable employment opportunities and advancing cybersecurity capabilities in the region. Our vision extends beyond providing industry-leading security products and services; we aim to continuously innovate and cultivate cybersecurity talent through comprehensive training and development programs.”
“As Alberta’s tech sector grows, SAIT will continue boosting industry talent pools with career-ready grads. Cyber security is a vital component of our tech ecosystem and we look forward to continued collaboration with industry partners to meet the demand for a skilled workforce.”
Quick facts
- The IGF is designed to be offered in select late-stage investment decisions.
- In 2023, announced IGF projects included:
- Structural Truss Systems Ltd. expanding a 180,000-square-foot facility in Fort Macleod, creating 33 permanent and 12 temporary jobs.
- S3 Group developing a 22,000-square-foot facility in Medicine Hat, creating 100 new permanent jobs and 14 temporary jobs.
- English Bay constructing a 100,000-square-foot factory in Stony Plain, creating 70 new permanent jobs and 90 construction jobs.
- Applexus Technologies establishing its Canadian headquarters in Calgary, creating 125 permanent jobs.