U of C acquires University Research Park
Innovation hub expected to generate thousands of jobs in tech-related sectors
University of Calgary president Elizabeth Cannon says the school’s acquisition of the 30-hectare University Research Park will attract thousands of tech sector jobs to the city by creating a new innovation cluster near campus.
At a news conference Thursday, Premier Rachel Notley announced the Alberta government is transferring ownership of the land and three buildings. The agreement, which includes existing leases, is valued at $97 million.
University officials said the research park will produce 6,300 new direct jobs over the next 20 years, including 4,500 from the private sector. The remainder would be made up of technical staff tied to sponsored university research.
“University Research Park will provide an excellent platform to further innovation and company growth, create new employment opportunities and help the economic diversification of our community,” Cannon said in a news release.
Expansion of the research park will also complement work already underway at the Hunter Hub for Entrepreneurial Thinking and the Creative Destruction Lab — Rockies, Cannon said, with many of the expected new jobs likely to be in the biomedical and energy technology fields.
The park — across from the northwest Brentwood LRT station — is home to several organizations, including software firm Computer Modelling Group, Smart Technologies and the Canadian Energy Research Institute.
“Giving control of the University Research Park to the U of C will lead to better research and education opportunities, a more diversified economy, more jobs and a skilled workforce that’s ready for the jobs of the future,” Advanced Education Minister Marlin Schmidt said in the news release.