CALGARY – Quorum Information Technologies Inc. announced July 5 that the Atlantic Canada Opportunities Agency (ACOA) would be providing a $1.1M interest-free loan to help the DMS developer refactor several key areas in its DMS.
(Refactoring is the process of restructuring existing computer code without changing the external behaviour of the software.)
In return, Quorum will be expanding its operations in St. John’s N.L. in partnership with the ACOA.
“With the recent announcement of a new innovation agenda, the government of Canada is working to fulfill its vision to build Canada as a global centre for innovation,” said Navdeep Bains, Minister of Innovation, Science and Economic Development, at the funding announcement in St. John’s.
Bains is also the minister responsible for the ACOA.
“By investing in projects like Quorum’s, the government of Canada is fostering that vision, while helping Atlantic Canadian businesses grow, innovate and export so that they can create good quality jobs and generate wealth for the people of this region.”
The Calgary-based company says it opened an office in St. John’s in 2006 in order to hold on to talented native Newfoundlanders yearning to come home.
The St. John’s office has grown from a staff of five to 69.
Maury Marks says Quorum is keen to expand and hire more local talent, “a testament to the value that organizations around the world place on native Newfoundlanders and Labradorians who are trained and educated in the province.”
“Our experience with operating an office in Newfoundland and Labrador has been nothing short of amazing. We have found that the availability of high-quality skilled talent has even exceeded our high expectations. The support of ACOA has made this an easy transition and St. John’s is now our largest office.”
ACOA is providing a $1.1M loan through the Atlantic Innovation Fund (AIF), which is designed to help companies increase business productivity, growth and competitiveness.
AIF’s goal is to help Atlantic Canada compete at home and abroad by supporting the development of innovative products and services that lead to commercial success.