Garmin Canada expansion expected to bring 200 new tech jobs to Cochrane, Alta.
Garmin Canada has announced plans to expand its headquarters in the town of Cochrane, just west of Calgary, creating nearly 200 technology-based jobs.
The fitness technology company, which has been based in Cochrane for more than 20 years, credits the town's community revitalization levy (CRL) with paving the way for the move.
"Garmin Canada is excited to expand our presence and long-term growth plans in the heart of Cochrane," said Jim Rooney, Garmin Canada's managing director, in a statement released Monday. "What was once a brownfield site is now the location of a vibrant and growing economic engine for Cochrane, made possible through the combined efforts of the province, Town of Cochrane and Vantage Land Corporation.
"The extension to the community revitalization levy is an important investment by the province to help fund the infrastructure that enables future jobs and economic growth."
Alberta's CRLs permit communities to use property tax revenue, current or future, to finance projects.
According to the province, Cochrane's CRL has led to assessment growth of 2,638 per cent as of 2022, increasing property values.
"This $140 million in increased property values will go a long way to attract future investment and jobs into this vibrant and growing mid-sized city," said Rebecca Schulz, Alberta's Minister of Municipal Affairs.
Future planned projects within Cochrane's CRL area include a Canadian Pacific Railway pedestrian crossway, an arts centre, a parking structure and a library.
Construction on the Garmin Canada headquarters expansion is slated to begin in the coming weeks.
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.