On May 1 PCL Construction broke ground on Brightenview Development International’s six-building GTEC complex at GTH. Brightenview made the announcement today at a news conference at the site. The first two buildings of this $45 million project will be completed by February 2018 when GTEC’s first group of business tenants will begin moving in.
GTEC’s tenants will primarily be Asian small and medium sized manufacturers and entrepreneurs who will establish businesses at GTEC as a base to sell into the North American market. GTEC’s tenants will occupy office condo-like spaces that are:
• completely ready for product marketing and distribution
• connected to the GTH distribution channels (road and rail) to reach buyers in North America
• supported by GTEC’s professionals and service partners that will be hired by GTEC to help these businesses overcome barriers and understand North American opportunities, standards, logistics and relationships.
GTEC will also house and assist North American enterprises who want to export to Asia and expand their connections.
“Not only are Asian companies and entrepreneurs looking to build business networks so they can sell into North American markets, but there is also a huge opportunity to help Saskatchewan business access world-wide markets, especially those in Asia,” said Joe Zhou, CEO and Executive Director of Brightenview Development International Inc. “GTEC makes it easier for international investors to establish in markets where language and unfamiliar rules and regulations can be barriers.”
A number of advantages exist at the GTH that make this the ideal location for Brightenview to build GTEC now, says Zhou. Businesses at GTEC can get their goods to market faster and more efficiently because of the GTH’s direct access to major highways and CP Rail as well as its designation as a foreign trade zone.
“Having new business investors is good for Saskatchewan,” says Zhou. “These entrepreneurs – through GTEC - will build profitable businesses, hire local staff, pay income and provincial sales taxes and provide greater global trade to diversify the local economy. Additionally, they will provide local economic spinoffs by growing our population, and by buying houses and vehicles, among many other factors.”
When fully developed, as many as 300 businesses will reside in GTEC with a projected business capital investment of over $200 million. The first set of businesses to move into GTEC in 2018 will be distributors of electronics, home building materials and general consumer items. Others will export food products made from Saskatchewan agricultural goods.
“Building GTEC in the GTH is important for realizing Brightenview’s business vision and business model. We are focused on developing business project platforms to better unit global suppliers and distribution channels,” says Zhou.
For more information contact: Lorne Nystrom, Brightenview Development International, 306.539.7105