A federal investment will help the Northern Alberta Business Incubator (NABI) expand its facility and services offered to small and medium sized businesses in Northern Alberta.
John Williams, Member of Parliament for Edmonton-St. Albert, on behalf the Honourable Rona Ambrose, President of the Queen's Privy Council for Canada, Minister of Intergovernmental Affairs and Minister of Western Economic Diversification, announced federal funding of $1 million towards the facility today.
"This investment will enable the Northern Alberta Business Incubator to further support and expand northern Alberta business development and entrepreneurship," said MP Williams. "By helping this business incubator to expand its capacity and services, the Government of Canada is advancing the entrepreneurial environment and working to promote a competitive and expanded business sector in Northern Alberta."
The Northern Alberta Business Incubator Society will purchase an existing building to expand its current incubation capacity in St. Albert. This new facility will increase NABI's incubation capacity from 16,000 square feet to approximately 40,000 square feet. This new facility will be retrofitted to provide small commercial offices, light industrial spaces, administrative offices and common meeting rooms. These spaces will be rented to a variety of small businesses interested in growing their operations with the coaching and training support provided by NABI.
"For a number of years, NABI has been wrestling with the challenge of a new location," says Dave Rodwell, Chair of the NABI Board. "It was evident, that if the organization was to grow and maintain sustainability, that we would need expanded facilities. That challenge has now been met with the purchase of our new building at 200 Carnegie Drive in St. Albert. NABI will be retaining our existing 13 Mission Avenue site, which together with our new building, will give us the space that is required to be viable and grow."
NABI, a not-for-profit organization, has provided business support in St. Albert for 19 years. NABI offers a range of services, among them entrepreneurship-training programs, business coaching, office space, meeting room rentals and office technology services to a variety of early stage, non-industry specific companies.
Western Economic Diversification Canada is a department of the Government of Canada that works in partnership with various provinces, industry associations and communities to encourage diversification of the western economy, as well as to represent the interests of the West in national decision-making.
For additional information contact:
Donna Kinley
Manager, Communication, Consultation and Marketing
Western Economic Diversification Canada
Telephone: (780) 495-6892
Cell: (780) 991-7432
Dar Schwanbeck
Managing Director
Northern Alberta Business Incubator (NABI)
Office: (780) 460-1000
Western Economic Diversification Canada (WD)
- WD works in partnership with the provinces, industry associations and communities to stimulate and diversify Western Canada's economy, as well as to represent the interests of the West in national economic policy.
- WD is announcing a total investment of $1 million towards the purchase of an existing building to expand business incubation services in St. Albert. NABI, the recipient, will also renovate and continue to operate its original building on Mission Avenue.
- WD's investments, made through its Western Diversification Program (WDP), support the Government of Canada's commitments to invest in research, development and technology commercialization; support small- and medium-sized enterprises; and promote a diversified and expanded business sector.
- The underlying objective of the WDP is to create a stronger West and a stronger Canada. Several guiding principles are used to help assess how initiatives contribute to this objective, including:
- increased economic activity that improves the viability, prosperity, and standard of living for individuals and communities across Western Canada.
- increased economic research in the areas of community economic development, leading-edge technologies and entrepreneurship to provide a sound base for economic development in areas of importance to Western Canada.
- Other elements that are considered when determining the relative merit of proposals include: the measurable impact on the western Canadian economy, viability, long-term benefits, and the participation of other stakeholders.
Northern Alberta Business Incubator
- Business incubation helps with the process of starting and growing companies. A proven model, it provides entrepreneurs with the expertise, networks and tools they need to make their ventures successful. Incubation programs diversify economies, commercialize technologies, create jobs and build wealth. Incubators nurture young firms, helping them to survive and grow during the start-up period when they are most vulnerable. Incubators provide hands-on management assistance, access to financing and exposure to critical business or technical support services. They also offer shared office services, access to equipment, flexible leases and expandable space - all under one roof.or in NABI's case, two roofs.one on Mission Avenue, one in Campbell Business Park.but both in St. Albert, Alberta.
- NABI's Mission: Provide comprehensive business incubation programs and services to encourage innovation and the development of new businesses.
- NABI's Vision: Graduate 125 new businesses and create over 800 new jobs in Northern Alberta over the next 10 years.
- NABI presently serves about 25 tenants from its Mission Avenue site and also provides business coaching and counseling to approximately 125 clients in the region.
