Cultivating economic growth in rural Alberta
Press Release
May 03, 2024
Alberta’s government is committed to attracting investment and jobs to continue to drive the economic engine of Canada. In addition to reducing unnecessary red tape and introducing the job creation tax cut, which ensured the province has the lowest taxes in the country, Alberta’s government introduced its deal-closing incentive, the Investment and Growth Fund (IGF). This program builds on the Alberta Advantage: the lowest corporate tax in Canada and among the lowest in North America, a highly skilled workforce, an abundance of natural resources, a world-class education system, and a thriving research and development pipeline.
Thanks in part to the rural stream of the IGF, Logistik Unicorp Inc. has chosen to invest in the development of a processing hemp plant in Elk Point in partnership with Frog Lake First Nations. The facility will create an estimated 33 permanent full-time and 50 temporary jobs.
“Alberta’s government has created an investment friendly environment with policies and programs that support companies like Logistik Unicorp in choosing to expand in our province. With the lowest corporate tax rate in Canada, a highly skilled workforce and investment incentive programs like the Investment and Growth Fund, businesses can feel confident about investing in Alberta.”
Matt Jones, Minister of Jobs, Economy and Trade
Quebec-based Logistik Unicorp Inc. is the largest uniform company in Canada and has more than 10 years’ experience in the hemp industry. Their goal is to create the most advanced hemp processing plant in the world. The company received $1.1 million through the IGF to advance those goals in Alberta.
This partnership, operating under the Askiy Hemp LP, involves building a decortication, refinement and cottonization hemp plant with a capacity to process 40,000 tonnes of hemp stalks per year. The aim is to use hemp cultivated nearby in Frog Lake First Nations and other neighbouring Indigenous communities on 125,000 acres of land. Together, the new hemp growing operation and the hemp processing plant will contribute to the growth of Alberta’s agriculture sector and create valuable jobs in the region.
“This investment by Logistik Unicorp is great news for the town of Elk Point and will bring in much-needed jobs and investment to the community and highlights our government’s commitment to economic development in all corners of Alberta. These kind of foundational moments trigger growth in an area, and we see a real opportunity.”
Scott Cyr, MLA for Bonnyville-Cold Lake-St. Paul
“We are pleased to be part of the transformation of the Canadian industrial landscape by fostering economic development for First Nations, Inuit and Métis peoples. Working with Frog Lake First Nations is a natural step in creating this new market within our economy. In line with Canada’s vision of growth and reconciliation, this inspiring project is rooted in and springs from our environmental values, bringing about the creation of a unique and promising new hemp industry, a reflection of Canada’s resourcefulness.”
Louis Bibeau, president and CEO, Logistik Unicorp Inc.
“As the Chief of Frog Lake First Nations, we are committed to enhancing the lives of our people. This can only be done by diversifying and by making investments such as this, as it is an important factor to the nations’ growth. I want to take this time to thank Logistik Unicorp for approaching Frog Lake First Nations to develop a joint venture partnership and form Askiy Hemp LP. This is a great opportunity for economic growth for Frog Lake First Nations. It will provide a large scale of opportunities in green energy, food and water sovereignty, clean transportation, carbon sequestration and sustainable projects. It will also provide a number of employment opportunities for our nation’s members as well.”
Chief Gregory Desjarlais, Frog Lake First Nations
Alberta’s government is committed to working with Indigenous communities like Frog Lake First Nations to create economic and social opportunities for Indigenous Peoples. Welcoming Logistik Unicorp to the region will support strong, vibrant Indigenous communities and create opportunities for Indigenous people to fully participate in a prosperous, competitive and diverse Alberta. Frog Lake First Nations is a majority owner in the project and plans to cultivate hemp to supply to the facility.
“On behalf of the Town of Elk Point, we are excited that with the assistance and encouragement of our government, Askiy Hemp LP has decided to invest in our town. Askiy Hemp LP is a shining example of the collaboration between our First Nation friends and the private sector to promote economic and agricultural development within our region. Most important of all, this venture also provides employment opportunities for our Frog Lake First Nations and residents, as well as future economic development opportunities within our region.”
Parrish Tung, mayor, Elk Point
The IGF has been providing an extra incentive to close deals across Alberta since 2021. Budget 2024 dedicates $15 million for the Investment and Growth Fund to secure private-sector investments, of which $5 million is dedicated to rural Alberta.
Quick facts
- The IGF is designed to be offered in select late-stage investment decisions.
- In 2023-24, announced IGF projects included:
- NewCold building a cutting-edge food storage facility in Coaldale, creating more than 50 permanent jobs and up to 200 temporary jobs.
- Fortinet establishing a new facility in downtown Calgary creating 85 permanent jobs and 80 temporary jobs.
- Structural Truss Systems Ltd. expanding a 180,000-square-foot facility in Fort Macleod, creating 33 permanent and 12 temporary jobs.
- S3 Group developing a 22,000-square-foot facility in Medicine Hat, creating 100 new permanent jobs and 14 temporary jobs.
- English Bay constructing a 100,000-square-foot factory in Stony Plain, creating 70 new permanent jobs and 90 construction jobs.
- Applexus Technologies establishing its Canadian headquarters in Calgary, creating 125 permanent jobs.
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