Rick Casson, Member of Parliament for Lethbridge, on behalf of the Honourable Lynne Yelich, Minister of State for Western Economic Diversification, announced Government of Canada support to help Economic Development Lethbridge (EDL) strengthen economic opportunities in the Lethbridge area.
“Our Government recognizes the value of entrepreneurship in our communities,” said MP Casson. “Investing in the Technology Commercialization Centre will create jobs, provide new opportunities for local businesses, and benefit Lethbridge’s economy./q>”
With the support of this federal investment, EDL will collaborate with the Iunctus Geomatics Corporation to establish a Technology Commercialization Centre, business incubator and supporting data centre to serve local technology companies. This project will immediately benefit the community by creating employment opportunities with the construction of two buildings and installation of specialized equipment and power supplies. The initiative also provides long-term economic benefits by encouraging growth, development and investment in the Lethbridge technology sector as well as enhancing employment options for university and college graduates.
Federal funding of $4,170,000 is being provided through the Community Adjustment Fund (CAF) as part of Canada’s Economic Action Plan. The City of Lethbridge is also supporting this initiative through a $1.1 million infrastructure investment for the technology commercialization centre. In addition the Iunctus Geomatics Corporation is contributing data centre capacity as well as funding $1 million over five years to support the start-up operations of the TCC.
“This strategic investment is consistent with the Government of Canada’s economic goals and the resolve of City Council to enhance the diversity and viability of Lethbridge and southern Alberta,” said Mayor Robert Tarleck, City of Lethbridge. “The Lethbridge Technology Commercialization Centre will strengthen existing industries and attract new businesses as part of our commitment to developing a globally-strong, knowledge-based economy.”
Benefits for technology companies include access to business development services and specialized equipment housed in the data centre. The incubator space, support services and specialized equipment will help diversify the local economy, act as an incentive for technology firms interested in relocating to Lethbridge and foster growth in the local technology sector.
“Our company has grown up in this city, so to expand our operations and contribute to the Technology Commercialization Centre (TCC) is one way we can stay here,” said Ryan Johnson, President, Iunctus Geomatics Corporation. “A more robust technology sector will help us access qualified employees and share resources.”
Ryan Kasko, EDL Board chair adds, “This is the largest undertaking of EDL since our inception in 2003. It is because of the federal government and community-based support of our partners that we are able to facilitate the creation of this centre. It is intended to add valuable infrastructure leading to the expansion of technology industries for our city and region.”
CAF will provide $306 million over two years to support the most affected western Canadian communities, such as those that are heavily reliant on resource-based industries, for instance forestry, mining, agriculture and fisheries, and communities that depend on the manufacturing industry. Western Economic Diversification Canada (WD) is delivering the fund in the four western provinces.
Visit the Community Adjustment Fund (CAF) in the West or Canada’s Economic Action Plan for more information.
For more information, contact:
Donna Kinley
Regional Manager, Communications
Western Economic Diversification Canada
Edmonton, Alberta
Tel: (780) 495-6892
Cell: (780) 991-7432
Cheryl Dick
CEO, Economic Development Lethbridge
Tel: (403) 331-0022
Cell: (403) 330-3136
WD Toll-Free Number:1 888 338-WEST (9378)
Teletypewriter (TTY): 1 877 303-3388
Website: WD is online at www.wd-deo.gc.ca.
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