Annual report shows Invest Medicine Hat luring $9M in new business, with much more expected to formulate in 2018
By Collin Gallant on March 22, 2018.
cgallant@medicinehatnews.com @CollinGallant Business attraction efforts by a city contractor have led to nearly $9 million in new business investment, according the new annual report of Invest Medicine Hat — though deals valued at 20 times that are in the final stages of development. That figure does not include the recently announced data processing centre handled entirely by the city’s business support office. The firm’s head Ryan Jackson told the city’s development and infrastructure committee that the second year of Invest’s contract with the city saw it with groups opening two micro-breweries, an oil and gas manufacturer, a hemp growing facility and a renewable energy pilot project. “It’s a start,” said Jackson. “And I think we’ll have a better year this year — in fact I know we will.” Along with creating marketing material, Invest is required to create potential business plans for specific areas of interest, such as agri-food production, manufacturing or refining. The report also breaks down the status of 77 proposals from the private sector it has worked on. It notes that a smaller-scale hemp processing facility is in the permitting process, and helium exploration company, the Weil Group, hopes to have a liquefaction facility built here by the end of 2019. Without specifics, negotiations are said to be ongoing with large agribusiness interest, ‘community” organization and finance operations. Those are characterized as having a high probability of success, though Jackson notes it’s subjective. Several chemical refinery projects are tagged with budget estimates totalling $100 million. Other “energy” sectors ranged in the $3 million to $10 million range. Jackson said 10 opportunities are considered close, with the companies either abandoning projects or locating elsewhere. The report says local manufacturing facilities were considered lacking by some site selectors. Committee chair Coun. Robert Dumanowski said recent and coming announcements would also act as great advertisements for the city. “If you’re doing business in the same sandbox, of course you’re going to look at what your competitor is doing and why they came here (to Medicine Hat),” he said. “Ultimately, I’m really pleased with the work you’ve done,” he told Jackson. Other committee members agreed. “People have to realize that there’s intense competition (to lure) these companies,” said Coun. Jim Turner. The group’s three year contract is set to come up for renewal next year — a time when Jackson said the strategy should be evaluated anyway. That could include adding business retention and expansion to the mandate, he said, or developing a “cluster” plan to build supply chains and investment by related industries. 20
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