CALGARY, AB, April 29, 2024 (GLOBE NEWSWIRE) -- NewCold, the fast-growing leader in advanced automated warehouse and cold chain logistics, announced plans today to invest $222 million and create over 50 new jobs in Alberta’s agri-food sector. With support from Invest Alberta and a grant from the Government of Alberta, NewCold will expand into the southern Alberta community of Coaldale, creating a cutting-edge food storage facility that will build on the region’s strength as Canada’s premier food corridor and contribute to long-term regional economic growth.
NewCold identified Southern Alberta as an ideal location to support the growing food processing industry in the region with its highly automated cold store. The facility will create critical infrastructure to supply food across Canada, further enhancing the region’s growth as an agri-food corridor. NewCold will also invest in improving Canadian Pacific Kansas City (CPKC) rail connectivity to give businesses ready access to export their products with ease and security. The investment will go into municipal rail lines to develop Coaldale into an export hub.
NewCold is creating over 50 permanent jobs in the area with an eye on connecting with post-secondary institutions in the future, to develop training programs aimed at diversifying available talent. The construction of the facility will also create up to 200 construction jobs.
Strong partnerships among Alberta agencies ensure that companies looking at Alberta get the support they need. Invest Alberta connected NewCold with available incentives and introductions to the local business community. The Government of Alberta contributed $2.1 million through an Innovation and Growth Fund grant for NewCold’s expansion, while the Town of Coaldale helped expedite the company’s operations and will continue to provide strategic development support to ensure they have the competitive environment, skilled workforce, and connectivity they require.
NewCold’s state-of-the-art warehouse will use proprietary software and technology to ensure food safety and quality, while being 50 per cent more energy efficient than traditional cold stores. This technology supports their aim to create sustainable value chains and exemplifies their mission of contributing to a future in which no resources are wasted.
The Alberta-based facility marks an important step toward addressing the growing need for cold storage and logistics to the benefit of local producers, looking for solutions to broaden their business while ensuring food safety.
NewCold is poised to initiate construction, acquire equipment, and start hiring immediately, with the goal of having more than 50 employees onsite by the end of 2026.
QUOTES
“We recognize Alberta’s growing importance in North America’s food supply chain, so developing a facility in the province is a key part of our strategic global expansion. NewCold is committed to building a better food supply chain that is more resilient and efficient. Our new state-of-the-art facility will bring advanced food logistics to Alberta, ultimately helping our customers serve theirs and benefiting consumers.” - Bram Hage, NewCold Founder and CEO
“Announcing our automated cold store in one of Canada’s largest and fastest-growing food production areas marks an exciting milestone of NewCold’s expansion in the North American market. We are grateful for the excellent collaboration from our Alberta and Coaldale partners in making this new advanced storage facility a reality. We are proud to offer the latest automated cold storage innovations and technology to support food shippers in the region with operations beginning in 2025.” - Jonas Swarttouw, NewCold Executive Vice President Commercial and Chairman in North America
“Alberta’s government is attracting investment like NewCold to the province because of our business-friendly policies and programs. The Investment and Growth Fund compliments the province’s low corporate tax rate, highly skilled workforce and commitment to reduce administrative burden, which means businesses can invest with confidence.”- Matt Jones, Minister of Jobs, Economy and Trade
“Agriculture is a key industry for Alberta, and NewCold’s investment is a win for both processors and producers. This project is a welcome boost to our economy and will help cement Alberta’s position as a leader in agriculture and agri-food investment.” - RJ Sigurdson, Minister of Agriculture and Irrigation
"We’re thrilled to welcome NewCold to Coaldale and look forward to celebrating the grand opening of its brand-new, state-of-the-art, cold storage facility. With this historic investment, Coaldale continues to establish itself as a major logistics and investment hub within Canada's Premier Food Corridor. We are excited to welcome NewCold into our growing business community and would like to thank Invest Alberta, Minister Matt Jones, and everyone at the ministry of Jobs, Economy, and Trade for their support of this amazing project." - Jack Van Rijn, Mayor, Town of Coaldale
“NewCold’s $222 million investment is a major win for southern Alberta, creating more than 50 permanent new jobs and positioning Coaldale as an export hub. Collaboration among Alberta’s business-friendly agencies was key to NewCold’s final decision, with Coaldale, Invest Alberta, and the Province pitching in to help the company bring their vision to life.” - Rick Christiaanse, Invest Alberta CEO
About NewCold
NewCold is a global leader in advanced food logistics, with 18 state-of-the-art automated and energy-efficient warehouses on three continents with a combined capacity of over 1.3 million pallet positions. Alongside a growing transport fleet of over 200 trucks and 500 trailers. NewCold provides end-to-end supply chain solutions to leading food companies powered by innovative technology and backed by a team of over 2,000 people. www.newcold.com
About Invest Alberta
Invest Alberta engages the world and provides high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits. Since being established in 2020, Invest Alberta has supported investments totaling nearly $20 billion and creating more than 23,000 jobs in sectors ranging from energy and agriculture to tech, aviation, life sciences and beyond. For more information, visit investalberta.ca.
