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Edmonton Corporate Development & Attraction

Edmonton continues to attract first order start-up expansions whether in the restaurant realm or in other businesses related to resources, agriculture or otherwise. The positive flow is impressive.
 
This article is about another city, but I find it quite thought provoking and also related to some of the recent discussion here regarding economic diversification.

calgaryherald.com

Opinion: Calgary and Denver so similar except in economic growth

Differing policy decisions during the 1970s and '80s led to Denver experiencing rapid development while Calgary struggled to keep pace.
calgaryherald.com calgaryherald.com
 
"said on Tuesday its plans of investing 10 million Canadian dollars (US $75 million) in a Canadian blue ammonia production project."

Didn't realize our dollar was so strong! 😜
 
New Edmonton Edge Fund will drive business innovation and transformation​

August 28, 2023

The City of Edmonton announced a new $5 million funding program for businesses, entrepreneurs and nonprofit agencies looking to do something transformative in the city.

Phase 1 of the Edmonton Edge Fund, which provides project-based grants, helps address gaps in capital available to innovators and entrepreneurs by acting as a catalyst for innovation in the city. The fund increases Edmonton’s ability to attract and retain business and help generate job creation and investment opportunities. The Edge Fund applies special considerations to applicants from equity deserving communities who may have faced barriers accessing other types of funding.

“The Edmonton Edge Fund is an exciting new initiative for our city,” said Mayor Amarjeet Sohi. “It helps to level the playing field by giving both small and large businesses, and nonprofits, access to needed capital to finance their innovative ideas. Edmonton is a city of risk-takers and entrepreneurs, and this fund will help ensure creative, daring ideas can continue to grow and flourish in our city.”

Phase 1 is the pilot phase, with the intention to gain key learnings and insights that will help inform what a permanent version of the program could look like.

This year, the fund will provide support through two streams of grants:

  • The Scale and Grow Stream, which offers large grants of $250,000 to $1 million
  • The Start Stream, which offers smaller grants of up to $100,000

“These grants are for Edmonton-based businesses who are looking to do something transformative in our city,” said Kim Petrin, Acting Deputy City Manager of Urban Planning and Economy. “Current economic conditions, like high interest rates and increased supply costs, can impact the ability of businesses to access funding. Programs like the Edmonton Edge Fund introduce a new pool of non-repayable capital funding specifically for innovators and entrepreneurs proposing local investments in Edmonton.”

The Edmonton Edge Fund supports The City Plan’s Big City Move of Catalyze and Converge and the principle of Thrive. It also supports principles of the Edmonton Economic Action Plan, including support for new and established business, diversification of our economy and further establishing Edmonton as a destination of choice for talent and capital.

The application intake period for the Edmonton Edge Fund closes September 18.​

For more information:
edmonton.ca/EdgeFund

Media contact:
Mary-Ann Thurber
Communications Advisor
Urban Planning and Economy
780-619-3254​
 
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https://twitter.com/x/status/1696300682251260290
 
occidentalcapital said:
Expansion at Prince Rupert port going ahead
www.rupertport.com

PRPA to Begin Construction on $750 Million Export Logistics Project | Prince Rupert Port Authority

October 19, 2023 The Prince Rupert Port Authority (PRPA) is commencing construction on the Ridley Island Export Logistics Project (RIELP), an innovative
www.rupertport.com www.rupertport.com
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How much opportunity does this present for Edmonton? Looks like YYC is being targeted by CN.

www.railwayage.com

CN Announces Plans for New Calgary Intermodal Transload Facility - Railway Age

CN, Trealmont Transport Inc. (Montship Inc.) and Kaptan US LLC announced March 27 that they have reached an agreement to develop a multimodal transload facility located in the Class I's Calgary Logistics Park. The new facility is expected to be operational in the third quarter of 2024.
www.railwayage.com www.railwayage.com

“We view Calgary as the next frontier in the transload market,” said Montship Inc. Chairman and CEO Brian McDonald. “It is ideally suited to serve both west coast gateways (Vancouver and Prince Rupert) and will offer significant advantages to both import and export customers. Teaming up with CN and their unmatched network is a unique opportunity for us. We look forward to working with stakeholders to deliver the benefits this project will present.”
 
TAS said:
How much opportunity does this present for Edmonton? Looks like YYC is being targeted by CN.

www.railwayage.com

CN Announces Plans for New Calgary Intermodal Transload Facility - Railway Age

CN, Trealmont Transport Inc. (Montship Inc.) and Kaptan US LLC announced March 27 that they have reached an agreement to develop a multimodal transload facility located in the Class I's Calgary Logistics Park. The new facility is expected to be operational in the third quarter of 2024.
www.railwayage.com www.railwayage.com

“We view Calgary as the next frontier in the transload market,” said Montship Inc. Chairman and CEO Brian McDonald. “It is ideally suited to serve both west coast gateways (Vancouver and Prince Rupert) and will offer significant advantages to both import and export customers. Teaming up with CN and their unmatched network is a unique opportunity for us. We look forward to working with stakeholders to deliver the benefits this project will present.”
Click to expand...
I don't think these two things are related. Anything related to Calgary is over hyped by a lot of eastern companies. I suspect CN's eastern PR people got sucked into that not quite realizing or understanding the geography of western Canada.

Sadly planes can fly over Edmonton and ignore or dismiss our market, but I'm fairly certain trains can't. Trains from Prince Rupert would likely stop in Edmonton first.
 
David A said:
I don't think these two things are related. Anything related to Calgary is over hyped by a lot of eastern companies. I suspect CN's eastern PR people got sucked into that not quite realizing or understanding the geography of western Canada.

Sadly planes can fly over Edmonton and ignore or dismiss our market, but I'm fairly certain trains can't. Trains from Prince Rupert would likely stop in Edmonton first.
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Perhaps. That seems to be the Edmonton history though - nothing to worry about here. And then project or company moves to Calgary.
In listening to a Mayor Gondek business address last week, that city is making this a major economic priority.

Overhyped? I guess we will see.
 
It is true our civic leaders seem to take all local business and companies for granted, until they get tired of it and move somewhere where they are appreciated.

Calgary city leaders seem to have a much better understanding about the value of having companies located there, while ours are content with branch plant offices.

Calgary is also much better at hype and PR, although to be be fair Edmonton seems to get ignored or dismissed by the national media that doesn't seem to realize there is actually more than one major city in Alberta.
 
David A said:
I don't think these two things are related. Anything related to Calgary is over hyped by a lot of eastern companies. I suspect CN's eastern PR people got sucked into that not quite realizing or understanding the geography of western Canada.

Sadly planes can fly over Edmonton and ignore or dismiss our market, but I'm fairly certain trains can't. Trains from Prince Rupert would likely stop in Edmonton first.
Click to expand...
Who cares? Let YYC have a container yard full of seacans.....lol. Why are we even discussing an intermodal yard in YYC? Means nothing....next.
 
The reality is that almost any business expansion can be dressed up as a major success story. Calgary is very good at doing just that and it's something Edmonton can re-learn to start to create some real hype and excitement about the city. We already know there are hordes of "in the know" type people who will happily parrot these talking points-- just look at how national media responds to stories about Calgary business growth.

I say re-learn because historically Edmonton had a lot of that loud attitude and was able to position as the centre for business growth but that skill seems to have faded in recent years.
 
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