Growth fund lands Alberta new commercial vertical farm operation
Invest Alberta Corporation
November 29, 2021, 4:00 p.m. ·3 min read
CALGARY, Alberta, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Canada's largest commercial vertical farming company, GoodLeaf Farms, is expanding its operations to Calgary thanks to a boost from the Alberta government's Investment and Growth Fund (IGF).
The fund helps well-established companies make high-impact investments that create jobs, showcasing Alberta as a location of choice for new business.
GoodLeaf operates a proprietary indoor vertical farming system that uses a suite of technologies to grow varieties of leafy greens year-round without pesticides or herbicides.
The company's new 74,000-square-foot indoor vertical farm planned for 108 Ave SE will create 70 jobs and supply major metro areas in Alberta, British Columbia and the Prairies with fresh, local, ready-to-eat varieties of leafy greens. GoodLeaf's current retail partners include Loblaws, Metro and Longo's.
GoodLeaf's farm is being assisted with a $2.7 million incentive from the Alberta Investment Growth Fund and is the first project to receive funding from the program.
"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 shows serious investors that investment attraction, and in particular high-impact investments that create meaningful jobs, is a high priority for our province."
- Doug Schweitzer, Minister of Jobs, Economy and Innovation
Invest Alberta helps businesses gain awareness of Alberta's Investment and Growth Fund, while providing investment advisory services to companies looking to come to Alberta. An eligible project must create 25 jobs and deploy at least $15 million in capital spending. Potential applicants to the program and partner ministries can work through Invest Alberta investment advisors to access the program.
Companies in the late stages of decision-making will also be required to demonstrate that Alberta and at least one other jurisdiction are actively being considered for the investment.
"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."
- Nate Horner, Minister of Agriculture, Forestry and Rural Economic Development
"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."
- Jeff McKinnon, Senior Vice President, Network Development, GoodLeaf Farms
"Programs like the Investment and Growth Fund give Alberta a competitive advantage when attracting new and exciting investment to the province. Today's 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."
- Rick Christiaanse, Chief Executive Officer, Invest Alberta
Alberta will house GoodLeaf's third Canadian operation, which will also create opportunities to partner with post-secondary institutions on agri-food innovation.
Construction on the Calgary farm is currently underway and expected to be completed by the end of 2022. It will produce more than one million pounds of local leafy greens each year which will land on grocery store shelves in Western Canada by early 2023.
About Invest Alberta:
Invest Alberta is dedicated to investment attraction, with a mandate to engage the world and provide high-end tailored support to companies, investors, and major new projects. With offices in key markets around the world, Invest Alberta works to break down barriers so investors and businesses can start up, scale up, and succeed without limits.
For more information, visit: https://investalberta.ca/
communications@investalberta.ca
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