Parkland Fuel Corp. is receiving up to $4 million from the Opportunity Calgary Investment Fund to consolidate the company’s national operations, including the creation of 270 full-time jobs in Calgary.
In a news release, officials said the funding will support the relocation, retention, or creation of 430 permanent full-time head office jobs with the company in Calgary. More than 200 of those jobs will be in information technology 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 Opportunity Calgary Investment Fund board, in a statement.
For Parkland, part of the consolidation will include taking up almost 100,000 square feet of additional office space in downtown Calgary by January 2020.
“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.
Officials said Parkland is the fifth submission to the fund to be approved since its launch by the City of Calgary in April 2018. It was created 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 for Calgary, while technology is seen as a driver of progress in all sectors, they said.
The $18.6 million committed to those five projects is only paid upon achievement of specific milestones.
“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.”
On its website, Parkland says it is “an independent supplier and marketer of fuel and petroleum products and a leading convenience store operator. Parkland services customers across Canada, the United States, the Caribbean region and the Americas through three channels: retail, commercial and wholesale.”