The country’s largest commercial vertical farming company will build a 74,000 square foot indoor farm in the city, after receiving a $2.73-million incentive to locate to Alberta. The company will create 50 jobs during construction and 70 permanent jobs upon startup.
Overall, the first four approved projects under Alberta’s new Investment and Growth Fund, including Goodleaf’s groundbreaking project, will attract $845.8 million in investment and bring 1,950 jobs to Alberta.
The other three projects will be announced once details are finalized.
“I’d like to welcome GoodLeaf Farms to Alberta, where it will benefit from our low corporate tax regime, well-educated and skilled workforce and excellent infrastructure. The Investment and Growth Fund helped to close this investment in a competitive global market. This fund demonstrates to investors who could take their projects anywhere in the world that Alberta wants high-impact investments that create meaningful jobs.”
The $10-million Investment and Growth Fund focuses on attracting well-established companies to Alberta. It will target private sector projects that create the biggest impact and economic benefits for the province, including significant capital investment and employment opportunities.
The fund will focus on investments in the final stage of decision-making when Alberta is competing for investment against other jurisdictions that may also offer incentives. The fund serves as an incentive for companies to make their investments in Alberta.
Businesses from a range of industries will be eligible for funding, helping to diversify the economy.
“We are thrilled to welcome GoodLeaf’s vertical farming operation to our province. Alberta is home to a cutting-edge food and beverage processing industry and the most welcoming climate for businesses and investors in North America. We will be looking to the agri-food sector to help lead Alberta’s economic recovery plan and spur growth, and this innovative project is a step in the right direction – creating jobs, providing an economic boost to the region and building a sustainable, local source for year-round greens in Alberta.”
“Programs like the Investment and Growth Fund give Alberta a competitive advantage when attracting new and exciting investment to the province. This announcement with GoodLeaf is another example of a high-impact, high-value investment in Alberta that creates jobs and grows Alberta’s innovative edge in the agri-food sector.”
“GoodLeaf is working to be a global leader in indoor vertical farming, and our first step to achieving that is ensuring we have a strong footprint in Canada. Establishing this farm in Calgary is fundamental to that objective, and the support of the Government of Alberta, Invest Albert Corporation and the Investment and Growth Fund is instrumental in making this farm a reality. In Calgary, we have a location that is on a main corridor and is a central access point to Western Canada, ideally positioned to provide fresh, Canadian-grown leafy greens to grocery stores and food service networks between the Prairies and Pacific year-round.”
The Investment and Growth Fund is a key part of Alberta’s Recovery Plan to create jobs, encourage diversification and make Alberta even more competitive in the long term.
- The Investment and Growth Fund will provide a targeted grant that is driven by the number of jobs created and the size of the capital investment.
- Companies in the late stages of decision-making will be required to demonstrate that Alberta and at least one other jurisdiction are actively being considered for the investment.
- Funding will be disbursed when companies demonstrate that their projects have met milestones determined through the application process and resulting grant agreement, such as the number of jobs created, wage levels and the size of the capital investment.
- The design of the Investment and Growth Fund draws from investment support programs in other comparable jurisdictions and is tailored to meet Alberta’s unique needs.