The Government of Alberta announced this week that Amazon Web Services will be joining the growing list of tech companies that see exciting opportunities for growth in Alberta’s tech sector, with a multibillion-dollar investment.
Global leader Amazon Web Services Inc. will make a multibillion-dollar investment on a new cloud computing operation in Calgary. It is estimated that this investment will create close to 1,000 new jobs through a total investment of $4.3 billion, making it perhaps the largest single investment in the history of the province’s tech sector.
“This investment is another example of the rapidly expanding technology and innovation sector in Alberta and yet more proof that Alberta’s Recovery Plan is working to create jobs and diversify the economy,”says Jason Kenney, Premier. “Today’s historic investment by Amazon Web Services adds to the fantastic momentum in Alberta’s tech sector and that’s a great sign for our overall economic recovery and future growth.”
Alberta’s Recovery Plan includes actions to expand Alberta’s tech and innovation sector. Alberta’s government has lowered taxes on job creators and created an open for business regulatory environment. Budget 2021 invested an additional $175 million in the Alberta Enterprise Corporation to boost venture capital in Alberta’s tech sector and created the Innovation Employment Grant to support efforts to train workers for Alberta’s growing tech sector. Alberta’s tech sector is maturing rapidly and is a driver of employment and diversification. Technology and innovation are essential for growth and success in all industries and investments. Amazon Web Services can help kick-start growth in other sectors.
“There are so many reasons to be optimistic about Alberta’s tech sector. Alberta is on track for a record year in venture capital and tech investment, creating thousands of jobs and diversifying our economy,” says Doug Schweitzer, Minister of Jobs, Economy and Innovation.”This transformative investment from Amazon Web Services clearly demonstrates Alberta is a top destination for tech investment and talent.”
The Venture Capital Association of Alberta (VCAA) and the Canadian Venture Capital and Private Equity Association (CVCA) recently announced that Alberta posted a record year in 2020 for venture capital investment. There were 51 deals completed, those deals representing a total of $455 million in investment. The results in 2020 represent a 100 per cent increase over 2019, with 2019 being the previous best year on record.