Edmonton, AB – Young, growing biotechnology companies in Greater Edmonton and Alberta will soon have a new 72,000 sqft wet lab facility at Edmonton Research Park to help them develop their commercial potential.
Western Economic Diversification Canada and Alberta Innovation and Science will each provide $2.5 million in grants to help construct the $14.2-million project, spearheaded by Edmonton Economic Development. The City of Edmonton will provide $1.2 million in land and in-kind services and provide an $8-million loan for the project.
When completed in the summer of 2007, the facility, to be named the Biotechnology Business Development Centre, will house 10,000 sqft of low-cost shared lab space. Approximately 55,000 sq ft of cost-effective, customizable office and lab space will be available to tenants.
The new facility will be built on land adjacent to the Alberta Research Council, pending the approval of the expansion of the park’s land base. Construction is slated to begin in the late spring or summer of 2006.