Alberta is committing $125 million for MacEwan University’s new School of Business in downtown Edmonton, expanding capacity to support 7,500 new students in business and STEM fields.

“This investment would empower growth at our universities, make higher learning more accessible, create jobs and support local businesses. We are excited to see MacEwan’s future School of Business and how it will contribute to Edmonton’s downtown community and strengthen Alberta’s economy,” said Demetrios Nicolaides, minister of Advanced Education.

The funding will be delivered over four years and depends on the province passing its upcoming 2023 budget.

The School of Business is a proposed seven-storey tower in the heart of MacEwan’s campus in downtown Edmonton. The building would give the post-secondary institution 35,000 square metres of additional space, including 30 classrooms, 20 collaboration spaces and 15 study spaces.

The new building will include labs with artificial intelligence and augmented-reality  technology, as well as a simulated-trading floor.

MacEwan International will provide services to international students and help strengthen Alberta as a destination for future learners. A Careers and Experience office will connect students to industry for more work-integrated learning opportunities.

“MacEwan University and its campus are unique, not only because of our bold vision and commitment to delivering unparalleled undergraduate teaching experiences but because of our position in Edmonton’s downtown core. This significant investment allows us to continue providing transformative experiences that build community, business, and economic opportunities fuelled by an exceptional faculty committed to teaching greatness,” said Annette Trimbee, president, MacEwan University.

Funding from the Alberta government would start flowing in 2024. MacEwan’s goal for its MacEwan Means Business fundraising campaign is $25 million.