Parkland’s growing presence in Calgary will expand the innovation ecosystem that plays an important role in Calgary being a global energy leader with the highest standards in environmental, social and governance.
The $4 million in funding from OCIF will support the relocation, retention, or creation of 430 permanent fulltime head office jobs with the company in Calgary. More than 200 of those jobs will be in information technology (IT) or finance.
“Growing our financial services and technology sectors is critical to our economic strategy, Calgary in the New Economy. With this investment through OCIF, Parkland will be able to grow their business, create more jobs here in our city and realize their full potential,” said Calgary Mayor Naheed Nenshi, who is a member of the OCIF Board.
The Opportunity Calgary Investment Fund was created as a wholly-owned subsidiary of The City of Calgary in 2018 to support catalytic investments within the city that will help diversify and transform the economy.
Parkland is the fifth submission to be approved for funding.
The $18.6 million committed to those five projects is paid upon achievement of specific milestones. Total investment by the proponents of the projects OCIF has supported is in excess of $95 million. The five projects are forecast to create or retain 770 jobs, take up more than 270,000 sq. ft. of office and industrial space.
As part of its office consolidation, Parkland will take up almost 100,000 sq. ft. of additional office space in downtown Calgary.
“As a Canadian company, we are proud to be expanding our footprint and employee base in Calgary and welcome the support of the Opportunity Calgary Investment Fund. Our investment reflects our commitment to the city, and we expect that our people will bring tangible and lasting benefit to the community and to Calgary’s economy. We have ambitions to continue to grow in Canada and internationally, and we look forward to continuing to be an ambassador for the city,” said Bob Espey, President and Chief Executive Officer for Parkland.
The Opportunity Calgary Investment Fund was launched by The City of Calgary in April 2018 to support investments that will spur growth and create jobs in strategic sectors in the city. Energy and finance are key sectors for growth in the Economic Strategy Calgary in the New Economy while technology is seen as a driver of progress in all sectors.
Parkland is a leader in the downstream energy business and its expansion helps to diversify Calgary’s energy ecosystem from its traditional upstream focus. Parkland is a supplier and marketer of fuel and petroleum products and a leading convenience store operator in Canada, the United States, the Caribbean, and the Americas.
Most energy companies in Calgary work in exploration and production (upstream), or transportation, of energy or are integrated, with upstream and downstream operations.
“In the digital transformation of the entire energy sector we need to ensure Calgary remains a centre of decision making and innovation”, said Barry Munro, Chair of the Board of Directors of the Opportunity Calgary Investment Fund. “We are pleased to support the development of Parkland’s key business functions in IT and finance, which will strengthen the overall Calgary business ecosystem by placing more downstream elements of the energy business in this market.”