To Monique Simair, CEO and founder of Maven Water & Environment, disruption is an opportunity to create positive change. That mindset is part of why Maven has been able to more than double in size during the COVID-19 pandemic. When things slowed in 2020 due to the pandemic, instead of laying off team members, they shifted gears and invested over $1 million on internal technology development for sustainable water treatment. They now have clients in multiple countries and continue to expand. What’s more, Maven is aiming for rapid change as the pandemic recedes – Simair plans to hire 100 scientists and engineers by 2023.
Maven’s growth has been supported by a capital expansion incentive offered by the City of Saskatoon and administered by SREDA. Maven’s custom pilot-scale testing and technology development facility for water treatment was eligible for an incentive because of its long-term job creation and investment in Saskatoon’s future. The $5 million facility is the first of its kind, enabling Maven to offer sustainable and innovative water treatment processes to their growing list of clients.
When the COVID-19 pandemic arrived, Simair worked with SREDA to revise Maven’s expansion plans so that the company could weather the year’s uncertainty. Simair altered the plans for the new facility in order to retain staff – she knew the foundation for Maven’s growth laid in the strength of its people, not its facility’s floor coverings. One year later, Simair is excited about the trajectory for 2021, a year when she expects to add at least 25 new full-time scientists, engineers and other professionals to the team. The positions will cover junior, intermediate and senior-level experience and will primarily be located in Saskatoon.
“We are thrilled about our plans for growth,” said Simair. “Because of my background in science, I know that growth is essential: when an organism isn’t growing, it’s dying. Now is the time to keep building, because the pandemic isn’t going to last forever and those of us who have kept momentum are going to move forward and grow in big ways.”
Planning to grow your business?
SREDA administers a capital expansion incentive program for new and expanding businesses within the City of Saskatoon. Potential incentives may include exemptions or reductions of city taxes or fees, waiving of utility deposits and down payments on land, and exemptions or reductions of prepaid servicing levies. Expanding and new companies can apply to this incentive program to receive a five-year reduction in incremental property tax on an annual prorated basis. Additional tax abatement is available for businesses committing to create 100+ full-time equivalent positions (FTEs).
If growth is on the horizon for your new or expanding business, find more information and how to apply for an incentive.