RADF Investment: $1 million

Other Investment: None

Total Investment: $1 million

Project Period: May 2010–September 2012

T: 780.514.2562
E: biomile@draytonvalley.ca

Project Description

This project is an investment in the first applied-research consortium focused on a bio-economy in Alberta. Support from the Rural Alberta Development Fund will help create a Bio-Mile Centre of Excellence in Drayton Valley that supports the unique needs of bio-industries in the region. The centre will help commercialize new technologies and implement bio-industry-based applied research. It will also provide specialized training and support to develop labour skills required for this sector.

Expected Outcomes and Benefits

All projects go through a selection process to ensure they will improve the quality of life for Albertans. This project meets this objective through the following outcomes and benefits:

• Develop a specialized knowledge resource for bio-industry in Alberta
• Develop an innovative business incubation model that can be adapted by other communities in Alberta
• Increase employment opportunities in the Drayton Valley region
• Create a Web-based portal and a database of expert knowledge
• Attract at least five bio-based companies to the region
• Create at least 3 bio-industrial trades and skills development programs at NAIT and the University of Alberta
• Graduate 5 companies from a business incubator program
• Help at least 3 bio-industrial companies diversify their business through new products or technological advancements
• Achieve 5% savings for bio-industrial companies through shared accommodations and administrative support
• Set the stage for Drayton Valley to be a leader in bio-industrial development
• Draw more employment and business investment to Drayton Valley and area