MEDICINE HAT – More big business announcements are on the way for Medicine Hat according to a report from Invest Medicine Hat.
It could mean $185 million dollars of investment and create anywhere from 380 to 560 new jobs in the city.
The organization is tasked with promoting the Medicine Hat in an effort to attract business investment.
The report highlights several key projects that were completed last year. In January 2017, renewable energy company Bluenergy Solarwind, opened its Canadian headquarters in Medicine Hat.
In August, aerospace research and development company Atlantis Research Labs acquired Medicine Hat-based Form-Tech Machining, with plans to add 200 jobs over five years.
This past September, Travois Ale Works started work on building one of the smallest breweries in Alberta in the heart of downtown Medicine Hat. It’s slated to open in the spring/summer of 2018.
“2017 was a very successful year because we had a lot of conversations started, and 2018 is going to see the fruit of those seeds being planted,” said Invest Medicine Hat CEO Ryan Jackson.
It’s those upcoming projects that are garnering the most interest.
Invest Medicine Hat is “90 per cent” confident three new businesses will be coming to the city.
Most of the details are still under wraps, but they do provide some clues in the annual report.
One of the businesses is in the manufacturing sector. It would bring in $500,000 in investment creating five to ten new jobs.
The second is an agribusiness industry which would invest an estimated $150 million dollars in Medicine Hat, and would hire between 350-500 workers.
The third company Invest Medicine Hat is highly optimistic about is a new petrochemical facility. $30 million dollars would be pumped into the city from that and 25-50 jobs created.
Councillor Jim Turner said they hope to be able to reveal the details of the agribusiness company within a month.
“It is something that we don’t have here now,” said Turner. “So, it definitely is some diversification away from oil and gas, it will be very exciting, I just can’t wait till we can announce [it].”
The businesses themselves are not being named at this point as they’ve signed non-disclosure agreements.
Jackson said they have around 15 other projects in the works with companies interested in the city
Also of note in the report was a hemp processing plant that selected Medicine Hat as the location for a hemp extraction facility. In November, a helium company also announced its intention to build a helium liquefaction facility within the next 20 months.
Moving forward, Jackson says they are also trying to attract those involved in the marijuana industry, whether it’s growing or processing the government regulated cannabis.
“The cannabis legislation pending federally, is also going to be a big part of this whole push that we’re making,” said Jackson. “The fact that the city has very affordable power rates makes this a great place to open up.”
