Province to support major expansion at Invesco
Creating jobs for Islanders
The provincial government will support up to 200 new jobs at Invesco in Charlottetown.
“This is a clear sign that Invesco is invested in this community and very pleased with the quality workforce, and strong government support it’s received since opening its doors here in 2006,” Premier MacLauchlan said. “Competition between various jurisdictions for this type of business is fierce. But our talented, dedicated workforce, along with the ongoing government support for the company inspired Invesco to further invest in our province and continue to make a major contribution to our economy and employment growth.”
Invesco’s presence on Prince Edward Island has grown rapidly over the last 12 years. The financial services and investment company currently employs 330 people at its Charlottetown location with plans to grow to 400 by the end of 2019. And today Invesco, announced a further 200 jobs as the company expands its Charlottetown presence.
To support the expansion the provincial government will provide labour rebates of 7.5 per cent for every full time equivalent position over 400 and an additional 7.5 percent for every full time equivalent with a salary over $50,000 until June 2023. The maximum value of the rebate will be $3,124,500.
“Invesco is proud to count our office in Prince Edward Island among its largest global locations,” the Head of Invesco’s Charlottetown Office Andrew MacDonald said. “Our team in PEI performs a wide variety of critical business support functions, collaborating daily with clients and colleagues from around the world. We are excited to be adding even more talent to our Charlottetown location in the coming months as Invesco continues to invest in Islanders through this enhanced partnership with the Province of Prince Edward Island.”
Invesco is the largest employer in the financial services sector in Prince Edward Island. The sector includes companies such as CGI, Carta, Worklinks, and Analytic Edge. Approximately 460 people are employed in the sector which contributes approximately $297 million to the provincial economy.
Department of Economic Development and Tourism