Opportunities NB, Fredericton Knowledge Park building $37 million cybersecurity hub

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The Greater Fredericton Knowledge Park—a 26-acre campus dedicated to providing space for startups and scaleups—is building a hub dedicated to cybersecurity with support from the Canadian government.

The project is expected to cost $37 million, and Knowledge Park is receiving a $30 million repayable loan from Opportunities NB. Knowledge Park is putting in $7 million.

“This new building will be an enormous step forward in all your government’s efforts to establish New Brunswick as a leader in the field of cybersecurity,” said deputy premier Stephen Horsman. “Cyber Park will have all of the facilities needed to play home to the world’s leading cybersecurity companies, some of whom are already located here in Fredericton. Your government is delivering on job creation and economic growth and getting things done on behalf of New Brunswick’s working families.”

Cyber Park will be located on the north side of Knowledge Park Drive, about 500 metres from existing buildings. The building will be host to a centre of excellence, and will include labs for cybersecurity innovation and commercialization.

This was the second major cybersecurity announcement in Atlantic Canada last week. The federal government announced on last Tuesday that it would invest $4 million in another cybersecurity innovation centre in Fredericton.