Growth fund lands Alberta new commercial vertical farm

30-11-2021    14:53   |    Yahoo Finance

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.

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Photo by Petr Magera on Unsplash



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