It’s been slightly more than a year since Invest Ottawa rose from the ashes of OCRI.

With a renewed mandate to focus on local startups and an increased investment of time and resources from the City of Ottawa, Invest Ottawa has spent its time thus far working to establish its new brand and shed the perception among some that it’s out of touch with Ottawa’s newest companies.

The year has involved developing an accelerator program called GrindSpaceXL and recruiting startups to fill incubation space at Invest Ottawa’s new Aberdeen Street headquarters.

“When our doors opened in February last year, we didn’t have any companies” residing here, said Invest Ottawa CEO Bruce Lazenby. Even some key executive positions, such as managing directors, hadn’t been filled.

Now, 40 startups reside at the Invest Ottawa offices – 26 early-stage companies with the remainder being students within the Ottawa Young Entrepreneurs program run by Carleton University – and more than 200 firms have accepted services from the agency.

Startups working at Invest Ottawa’s facilities don’t pay rent, but they do pay to enter the acceleration program, which isn’t an option. If they’re looking for office space only, the agency will point them to co-location offices such as TheCodeFactory downtown.

Major shifts for Invest Ottawa from its predecessor include dropping membership fees – which brought in more than half a million dollars in revenues annually – and cancelling educational events within schools, which saves slightly less than $3 million in expenses each year.

The organization has also scaled back its large corporate events, something the high-tech community of Kanata has noticed.

STARTUP SHIFT

“I went to a lot of different OCRI functions,” said Peter Connolly, vice-president of business development at Kanata-based Fidus Systems Inc. “It was good for me as a sales guy for networking with people in high tech.”

That focus on large high-tech firms has dwindled, he said, leaving him feeling out of the loop.

It’s not an isolated perception. Executives from Mitel, Calian, DNA Genotek and Cisco all declined to comment on Invest Ottawa’s impact thus far. While some were unavailable, others cited a lack of interaction with the agency as reason not to comment.

March Networks’ president and CEO Peter Strom said he agrees that Invest Ottawa’s focus has shifted to earlier-stage companies, but he thinks it’s a good move.

“Their time and resources are better spent trying to help the smaller companies,” he said. “We have a bigger network of partners and there’s probably less value they can bring to us than the startups.”

SHELVING THE SUIT & TIE

Shopify’s chief platform officer Harley Finkelstein was there the day Invest Ottawa launched in February 2012, professing his excitement that not everyone present was old, white and wearing a suit. A year later, he said he’s generally pleased with the changes.

“I think OCRI had become quite stale,” Mr. Finkelstein said. “They were totally out of touch with what was going on in the startup scene.”

Now, he spots Mr. Lazenby at local startup-centric events such as Startup Weekend, Fresh Founders and Startup Grind.

“I love the fact that Bruce is getting out there,” he said.

Mr. Lazenby agreed that the atmosphere of the new agency is more relaxed.

“I think I have a tie somewhere,” he said. “I’ve worn jeans more in the last year than I have in my whole career.”

GROWTH AREAS

With his ear to the ground of Ottawa’s business community, Welch LLP’s director of business development Bruce Raganold said that while many businesses were unhappy with OCRI, Invest Ottawa is more successful.

“I think honestly the naysayers are starting to see that (Invest Ottawa) is focused in the right areas,” he said.

People are still cautiously waiting to see successful companies come out of the agency’s accelerator program, he noted, and for Invest Ottawa to help attract investment dollars.

The focus on funding is never far from the agency’s thoughts, Mr. Lazenby said. Even after assisting venture capitalist Code Cubitt launch the $35-million Mistral Venture Partners fund last summer, startups still say more needs to be done.

“As much as I completely agree with them, it’s a challenge a bit beyond our means right now,” he said. “That’s something we’re working on.”

YEAR TWO

The next year will be a busy one for Invest Ottawa, including the establishment of a Chinese business park with Beijing-based development group ZDG, the planning of a new innovation hub facility at Bayview Yards, the building of a local film studio and a focus on connecting startups and post-secondary students with local businesses.

Shopify’s Mr. Finkelstein said he’s eager to see what’s next for the agency.

“Year one was about cleaning up the house, and now that the house is clean they can go outside to play.”

SIDEBAR: BY THE NUMBERS

324: Number of companies met with in 2012 (up 92 per cent over 2011)

191: Jobs created by companies to which Invest Ottawa has provided services

6,786: Number of mentoring hours by entrepreneurs-in-residence and advisers

227: Number of knowledge-based companies with which Invest Ottawa is working from its innovation department

220: Number of customized market research reports delivered to Ottawa startups

$5.5 million: Cost of those reports if the startups had acquired them on their own

$39.5 million: Investment dollars attracted by Invest Ottawa innovation clients

225: Number of workshops and seminars delivered to more than 4,800 entrepreneurs in 2012

FINANCES:

Invest Ottawa has yet to release financials for its first year in operation. However, OCRI’s annual report from 2011 provides a glimpse into the agency just before the switch.

REVENUE:

Membership fees: $540,308 (2010: $635,298)

Corporate funding: $1,172,761 ($2,737,266)

City of Ottawa funding: $3,051,440 ($2,948,168)

Provincial funding: $1,116,704 ($1,970,609)

Federal funding: $323,054 ($401,194)

Total revenue: $6,622,979 ($9,013,048)

EXPENSES:

Management, finance and administration: $795,321 ($829,486)

Operating costs: $904,471 ($1,019,190)

Corporate programs: $1,154,886 ($1,361,051)

Education: $0 ($2,915,768)

Entrepreneurship and talent: $1,273,720 ($1,186,235)

Deficiency of revenue over expenses: -$29,852 (Excess of $4,431)

YEAR-END BALANCE: $739,797 ($769,649)

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It wasn’t easy to stand out at this year’s Game Developers Conference with all the colourful lasers, the life-sized mascots, the dazzling hardware and the world-famous brand names. But that’s exactly what members of the Ontario Technology Corridor (OTC) tried to do in San Francisco last month at the largest trade show in the industry, attended by 22,000 video-game developers from around the world.

Armed with a great story – successful development and execution of a lead-generation program around the time of the GDC – the OTC leveraged the conference to raise awareness for Ontario as an investment location for the interactive digital-media sector.

The OTC recognizes that the GDC is a place to make industry contacts, to exchange ideas and awareness, and to germinate deals. Thirty-nine pre-scheduled meetings were held with companies that want to explore business opportunities in Ontario – and six are now seriously considering locating facilities in the province in the coming months. Members of the Corridor also participated in and sponsored several networking events to build professional relationships with senior executives and decision-makers in the industry.

It is clear the gaming industry will continue to boom along with mobile access growth. Ontario is well situated to accommodate this growth: it is equipped with the work force, the government support and the infrastructure, with the most extensive network of fiber-optic cable in North America. The province’s business case made it easier to set up meetings with gaming companies looking to expand to new markets.

The Ontario Technology Corridor – named for the series of high-tech centres that stretch along the region’s 400 series of highways – includes the Greater Toronto Area, the Ottawa Region, the Waterloo Region and the City of London. Members within the Corridor – supported by provincial, regional and local governments – work together to help build the technology industry.

OTC partners recognize the role of digital media in transforming the economy, especially its ability to create high-value jobs. Ontario is Canada’s No. 1 jurisdiction in terms of concentration of companies and industry momentum within the country’s $1.7 billion, 16,000-employee video-game sector.

The keys to Ontario’s success have consistently been momentum, a competitive cost structure, and talent. The momentum began when Ubisoft signed on. The developer of the Assassin’s Creed franchise and one of the largest video-game manufacturers in the world, Ubisoft is like that big anchor store at the mall. When it opened a facility in Ontario, it sent a signal to the rest of the industry that the province was a credible base. Electronic Arts (EA), Gameloft and several other leading companies soon followed.

“Companies are surprised at how willing our governments are to partner and invest by providing tax incentives to ensure we’re competitive. These people are making large investments and they want to feel the love,” says Tracey Jennings, a partner of national technology, information, communications and entertainment, and media leader for Canada at PwC.

Ms. Jennings of PwC concedes that “tax incentives are designed to ensure we’re competitive, but in the end they’re a supplement to intellectual capital.”

Every year, more than 38,000 students graduate with math, engineering or science degrees from Ontario’s 44 colleges and universities, and those institutions currently have 23,846 students enrolled in in digital gaming related programs.

Gerald Pisarzowski is the 2013 director of the Ontario Technology Corridor (OTC) and vice-president of business development for the Greater Toronto Marketing Alliance (GTMA).

The OECD expects China’s economy to overtake that of the United States, currently Canada’s largest trading partner, as soon as 2016. Consider Canada City Alliance members strongly believe that cities play an increasingly critical role in global economic flows and that Canada’s value proposition for trade and investment is best presented through integrated efforts at the national and regional levels. Together, the 11 cities of the Consider Canada City Alliance represent:

• 54% of Canada’s population
• 56% of Canada’s employment
• 59% of its GDP
• 72% of Canada’s GDP growth (between 2007 and 2012)
• 90% of jobs growth in Canada (between 2007 and 2012)

Starting in Hong Kong, and then moving to meetings in Shēnzhèn and Beijing, Bruce Lazenby, CEO, from the Invest Ottawa will be joining approximately 30 other senior executives at meetings with pre-qualified Chinese companies and government organizations to make presentations at China-Canada Investment Opportunities seminars. These seminars are being facilitated by Federal government representatives from Invest in Canada and the Department of Foreign Affairs and International Trade Canada (DFAIT).

The charter members of the Consider Canada City Alliance are: Toronto, Montréal, Vancouver, Ottawa, Calgary, Edmonton, Halifax, Québec City, Winnipeg, Waterloo Region and Saskatoon. A press release announcing the detailed agenda of the Consider Canada City Alliance trade mission to China will follow on April 15th.

For more information on the Consider Canada City Alliance, please go to www.considercanada.com or www.canadaentete.com. Both Web sites also contain Chinese-language information.

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MEDIA CONTACT:

Paul Brent
Senior Communications Strategist
market2world communications inc.
www.market2world.com
P: 1.613.256.3939
E: paul@market2world.com

“We have been looking for a unique and bold marketing champion to set a new bar for promoting Ottawa and for economic development in North America (we are already 4th and need to be 1st)” said Bruce Lazenby, President and CEO, Invest Ottawa. “Got him – Jon Milne – brilliant experience in less than 10 years from his MBA. Found him in Holland – just moved him back. We are thrilled to have him on the executive team.”

“I am excited to be back in Ottawa and helping Invest Ottawa promote Canada’s capital as the best place to start and grow a business,” said Jon Milne. “I am eager to meet with any local startups and marketeers who would like to share ideas, interested in mentoring, want to discuss marketing strategy or have any other topic of interest. So please send me an email today at jmilne@investottawa.ca so we can set something up!”

Jon also welcomes you to connect with him online via LinkedIn: ca.linkedin.com/in/milnejonathan/ or follow him via Twitter @jonathanmilne. For some additional insights on Jon, check out this Invest Ottawa blog.

Prior to joining Invest Ottawa, Jon held the position of Director of Sales and Business Development with Irdeto in Amsterdam, where he identified new business opportunities and partnerships to help bring security technologies to market and led a global team responsible for all outbound marketing activities. Previously, Jon co-founded Software Theories Inc. and held positions with IBM Canada, Corporate Renaissance Group and Public Works and Government Services Canada.

Jon joins Kevin Carroll, Managing Director of Innovation, Walt Hutchings, Managing Director of Investment and Trade, CFO Margot Sunter and CEO Bruce Lazenby to round out the Executive Leadership Team at Invest Ottawa.

In addition to returning to Ottawa’s vibrant technology business community, Jon and his family were thrilled to be welcomed by 30 cm of freshly fallen snow. Welcome home, Jon and we hope you have some new warm boots!

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About Invest Ottawa:
Invest Ottawa delivers export-oriented economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the best place in Canada to start and grow a knowledge-based business. Invest Ottawa services include startup incubation and mentorship, acceleration for existing companies, global business attraction and local business retention, targeted sector development, commercialization, and marketing Ottawa’s diversified economy and high quality of life. www.investottawa.ca

Media contact:

Alex Pugh
Manager, Communications
Invest Ottawa
Email: alexp@investottawa.ca

GrindSpaceXL offers targeted and intensive entrepreneurship training; extended one-on-one mentorship; specialized advisors to help companies become investor-ready; opportunities to pitch to qualified investors; and office space at Invest Ottawa’s 80 Aberdeen Street location.

Two cohorts of companies have already enrolled in the program and Invest Ottawa is currently accepting applications for its third class of tech start-ups. To apply to this competitive program, companies must be incorporated, headquartered and operating in Ontario, less than five years old, and their core product or service must be technology-based. Interested startups can apply online at www.GrindSpaceXL.com.

“This is a natural and important extension to the existing services we provide,” explains Bruce Lazenby, President and CEO, Invest Ottawa. “Ottawa has a rich history of building great companies, as a result we have a wealth of experienced entrepreneurs available to mentor local startups. We have pulled together a team of entrepreneurs-in-residence who have the experience and the passion to support the companies through this intensive program and help build the next billion dollar Ottawa-based company.”

“The GrindSpaceXL program really helped to understand my core value proposition,” said grinder, Patrick Millward, Founder and CEO of MyOfficeTool, whose company provides workplace solutions that enable efficient workplace collaboration and communication. “I now have a deeper understanding of my business and a clear path to take it to the next level,” Millward continues, “MyOfficeTool is now in a solid position to effectively market and sell its products as well as present to investors.”

Benson Wong, Founder and CEO of Can I Pay Less; an organization that provides a price comparison platform for credit cards and cell phone plans states, “GrindSpaceXL has significantly rounded out my skills from an operational perspective”. Mr. Wong adds, “This intensive program has completely turned around my strategic approach to sales, marketing and presentation tactics – it has been an invaluable experience for my company.”

As the Regional Innovation Centre for Ottawa and Eastern Ontario and a member of the Ontario Network of Excellence (ONE), Invest Ottawa’s Grindspace XL program is made possible through the financial support of the Government of Ontario as well as that received through the National Research Council of Canada’s Industrial Research Assistance Program (NRC’s IRAP).

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About Invest Ottawa:
Invest Ottawa delivers export-oriented economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the best place in Canada to start and grow a knowledge-based business. Invest Ottawa services include startup incubation and mentorship, acceleration for existing companies, global business attraction and local business retention, targeted sector development, commercialization, and marketing Ottawa’s diversified economy and high quality of life. Visit us at www.investottawa.ca, find us on facebook.com/InvestOttawa or follow us on Twitter @invest_ottawa

The proposed development around this transit node will include a business incubation and acceleration space, with complementary governmental, private sector and non-profit agency use, including Invest Ottawa, the City’s primary partner in economic development with a focus on entrepreneurial development, foreign direct investment, and business retention and expansion.

“On behalf of Premier Dalton McGuinty, I am proud to announce this significant provincial investment into a high-tech job-generation facility,” said Minister Bob Chiarelli. “Leaders at Invest Ottawa and the City have come up with dynamic plans that builds on the National Capital Region’s reputation as a hub for innovation.”

Plans for portions of the 6.73-hectare parcel of City-owned land, described as the Bayview Yards, including the Bayview City Works Building #4, will include a mix of residential, recreational and commercial use including an innovation complex and a potential multi-purpose studio.

“The creation of an innovation complex at the site, incorporated into a mix of residential and commercial uses, will be an economic driver of great benefit to local communities and to the entire city,” said Mayor Watson. “The funding from the province, along with considerable assistance and in-kind contributions from the City, is a testament to what working together can accomplish.”

The best location for the innovation complex and proposed complementary uses of the remainder of the site will be determined by a municipal development corporation overseeing the entire development site within the context of the Council-approved Community Design Plan (CDP), anticipated in mid-2013. The municipal development corporation created for this purpose would have a small board of directors with representation from the City, funders, and experts from the private sector.

The goal is to open the innovation complex facility in time to move Invest Ottawa there by the end of its current lease term at 80 Aberdeen Street.

“I am excited that this investment will not only create jobs and foster innovation but support the much needed revitalization of the Bayview Yards in my community of Ottawa Centre,” said Yasir Naqvi, MPP for Ottawa Centre.

The Province’s $15-million contribution to the Bayview Yards Redevelopment Project will be disbursed according to recommendations brought back to City Council following approval of the Bayview CDP.

The City’s in-kind contributions will include:

• Donating 1.415-hectares of the 6.73-hectare Bayview Yards to the innovation complex
• Bringing a Community Improvement Plan (CIP) By-Law proposal to Council to apply municipal property tax rebates
• Rebating 50 percent of eligible site remediation costs, in accordance with the Ottawa Brownfields Redevelopment Community Improvement Plan framework
• Declaring the initiative a Capital Investment Track project (priority and facilitation assistance)
• Providing secretariat support to the municipal development corporation through the City’s Economic Development and Innovation Department and the City’s Real Estate Partnership and Development Office

Some environmental remediation will be required at Bayview Yards in order to proceed with development. On June 23, 2010, City Council approved a capital budget adjustment to provide funding of $1.229 million to stabilize the structure of the existing Bayview Garage and conduct an environmental cleanup of the building. Environmental remediation costs will be determined for the remainder of the 6.73-hectare site as part of due diligence for the project.

Link to original article.

The provincial government is kicking in $15 million for a new “innovation centre” for Invest Ottawa on the soon to be redeveloped Bayview Yards.

The provincial funding will allow the economic development agency to build a new home on the Bayview lands in anticipation of a major redevelopment for the Mechanicsville site. At an event at Invest Ottawa’s current Aberdeen Street location, Mayor Jim Watson said the business “incubator” is just the start.

“What I see is an opportunity for us to do something that presented to the province and the city several years ago, and create an accelerator incubation centre at Bayview, but it’s going to be more than that,” Mayor Jim Watson told reporters Thursday. “I think there should be a cultural component, we want to make sure there’s community space, there’s a lot of space on that site.”

The announcement came just one day after council lent its provisional support to the plan. According to Watson, the city will include the land, as well as a number of “in kind” contributions. While these haven’t received council approval, Watson listed waiving development charges and building permit fees as possibilities.

Provincial Transportation Minister Bob Chiarelli, who put in place his own vision for Bayview Yards during his time as mayor, said the province has confidence in both Invest Ottawa and the city. When asked why he thought the Bayview plan has taken so long to implement, Chiarelli said he did not wish to second guess the O’Brien administration, but is happy the city is moving forward.

Chiarelli said cabinet approved the spending two or three weeks ago, but city councillors did not know that when they voted to approve the plan Wednesday.

City staff are currently working on a community design plan for the rest of the Bayview lands, which is expected to be released later this year.

Link to original article.

The vision for Ottawa’s planned “innovation complex” has attracted city council’s support and $15 million in provincial funding, but key details such as the final price tag remain unknown.

The project received unanimous support from city council on Wednesday, contingent upon the provincial funding it had asked for.

With the province’s announcement, city council is prepared to provide $15 million in-kind contributions, Ottawa mayor Jim Watson said at a press conference in Invest Ottawa’s current office space on Aberdeen Street.

The complex would become the new home for Ottawa’s lead economic development agency and would include business incubation space, meeting rooms and commercial tenants alongside a new film and television studio on a city-owned property west of downtown.

The 150,000-square-foot building envisioned by the city and Invest Ottawa would be located at the Bayview Yards, the site of a municipal public works garage constructed in the 1940s.

But the cash so far committed to the project won’t cover all the costs, and the final number has not yet been tallied.

Officials at Thursday’s press conference referred to the project as a “public-private partnership.” However, when asked about to role of the private sector in an earlier interview, Mr. Lazenby said it is envisioned to be limited to leasing office space in the city-owned building at market rental rates.

The promised provincial funds come before any concrete details have been decided, but Invest Ottawa CEO Bruce Lazenby said Dalton McGuinty’s government is confident in the project.

“They recognize that even without all the i’s dotted and the t’s crossed, the acceleration concept is a smart one,” he said, adding that the government has seen the success of other similar initiatives it has funded, such as Communitech in Waterloo.

“We saw this rather narrow window of opportunity to get the ball rolling,” Mr Lazenby said.

The announcement comes just days before Mr. McGuinty’s replacement is announced, making it one of the last initiatives from the McGuinty era.

The provincial funds will be dispersed according to recommendations brought to city council following the Bayview Community Design Plan, which will take place later this year.

In-kind contributions from the City of Ottawa will include a donation of 1.4 hectares of the 6.7 hectare site at Bayview Yards; declaring the initiative a Capital Investment Track project which provides priority and facilitation assistance; as well as rebating 50 per cent of eligible site remediation costs in accordance with the city’s brownfield tax credit program.

In June 2010, city council approved $1.23 million to stabilize the structure of the existing Bayview garage and conduct an environmental cleanup of the building. Environmental remediation costs are yet to be determined for the rest of the lot.

It remains unclear which portion of the site Invest Ottawa’s new home will be build upon. Mr. Watson said the garage will be protected as a heritage building but it’s undecided as to whether it will be used as part of the innovation complex or for another use.

Despite the major decisions that still need to be made, Mr. Lazenby said there is a sense of urgency to get the project underway.

“We’re full to the rafters,” he said. “We’ve been here less than a year and we’ve run out of space already, so now what do we do? There has to be something else.”

The goal is to open the innovation complex facility in time to move Invest Ottawa there by the end of its current lease term at 80 Aberdeen St., according to a press release.

Invest Ottawa’s current five-year lease is set to expire on Dec. 1 2016.

Link to original article.

Ottawa – The Honourable Bob Chiarelli, Ontario Minister of Infrastructure and MPP for Ottawa West-Nepean with Mayor Jim Watson, Yasir Naqvi, MPP for Ottawa Centre and Invest Ottawa Co-Chair Jeff Westeinde, today announced that the City of Ottawa will receive $15 million from the Province of Ontario to establish an “innovation complex” at the Bayview Yards site near Mechanicsville.

The proposed development around this transit node will include a business incubation and acceleration space, with complementary governmental, private sector and non-profit agency use, including Invest Ottawa, the City’s primary partner in economic development with a focus on entrepreneurial development, foreign direct investment, and business retention and expansion.

“On behalf of Premier Dalton McGuinty, I am proud to announce this significant provincial investment into a high-tech job-generation facility,” said Minister Bob Chiarelli. “Leaders at Invest Ottawa and the City have come up with dynamic plans that builds on the National Capital Region’s reputation as a hub for innovation.”

Plans for portions of the 6.73-hectare parcel of City-owned land, described as the Bayview Yards, including the Bayview City Works Building #4, will include a mix of residential, recreational and commercial use including an innovation complex and a potential multi-purpose studio.

“The creation of an innovation complex at the site, incorporated into a mix of residential and commercial uses, will be an economic driver of great benefit to local communities and to the entire city,” said Mayor Watson. “The funding from the province, along with considerable assistance and in-kind contributions from the City, is a testament to what working together can accomplish.”

The best location for the innovation complex and proposed complementary uses of the remainder of the site will be determined by a municipal development corporation overseeing the entire development site within the context of the Council-approved Community Design Plan (CDP), anticipated in mid-2013. The municipal development corporation created for this purpose would have a small board of directors with representation from the City, funders, and experts from the private sector.

The goal is to open the innovation complex facility in time to move Invest Ottawa there by the end of its current lease term at 80 Aberdeen Street.

“I am excited that this investment will not only create jobs and foster innovation but support the much needed revitalization of the Bayview Yards in my community of Ottawa Centre,” said Yasir Naqvi, MPP for Ottawa Centre.

The Province’s $15-million contribution to the Bayview Yards Redevelopment Project will be disbursed according to recommendations brought back to City Council following approval of the Bayview CDP.

The City’s in-kind contributions will include:

• Donating 1.415-hectares of the 6.73-hectare Bayview Yards to the innovation complex
• Bringing a Community Improvement Plan (CIP) By-Law proposal to Council to apply municipal property tax rebates
• Rebating 50 percent of eligible site remediation costs, in accordance with the Ottawa Brownfields Redevelopment Community Improvement Plan framework
• Declaring the initiative a Capital Investment Track project (priority and facilitation assistance)
• Providing secretariat support to the municipal development corporation through the City’s Economic Development and Innovation Department and the City’s Real Estate Partnership and Development Office

Some environmental remediation will be required at Bayview Yards in order to proceed with development. On June 23, 2010, City Council approved a capital budget adjustment to provide funding of $1.229 million to stabilize the structure of the existing Bayview Garage and conduct an environmental cleanup of the building. Environmental remediation costs will be determined for the remainder of the 6.73-hectare site as part of due diligence for the project.

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For more information:

Office of MPP Bob Chiarelli
Phil Donelson
416-327-9236

Media contact
613-580-2450

Public inquiries:
ottawa.ca
3-1-1

Invest Ottawa
Blair Patacairk
613-889-8192

OTTAWA — A $15-million provincial grant for a new “innovation complex” at Bayview Yards is set to be announced Thursday, after city council signed off on the plans in a Wednesday meeting.

The prime piece of real estate between Mechanicsville and the Bayview transit station is owned by the city and includes a disused workshop and snow dump. The city’s planning a new office-tower home for Invest Ottawa, its economic-development agency, plus a film studio in the old workshop.

An early and rough estimate of the cost is $45 million, to be put together by the city (through contributions like the land itself), the province, and private companies that work with Invest Ottawa. The city formally asked if the province would kick in about two weeks ago; just after city council voted in favour of the idea, the city sent a news release saying Liberal MPPs Yasir Naqvi and Bob Chiarelli would be at a news conference with Mayor Jim Watson at Invest Ottawa’s current headquarters in Little Italy on Thursday morning to talk about the innovation complex’s future.

Any construction is still years away; for now, the whole project is still just a detailed idea, not a real proposal. The project is supposed to be worked into a redevelopment plan for the whole area around the O-Train track that ends at Bayview, which isn’t due till the spring, and the Bayview Yards are to be used as a staging area for years of light rail construction.

Link to original article.