BRAMPTON, ON, CANADA - Loblaw Companies Limited is making a major investment in the Canadian economy this year to the tune of $2 billion CAD ($1.48 billion USD). The record investment solidifies the retailer’s commitment to enhancing its store network, creating jobs, and improving affordable food and healthcare accessibility.

“This year, we are investing where Canadians need it most. We will introduce more than 40 new discount stores and 140 new pharmacy care clinics in communities across the country – making healthcare and affordable food more accessible to more people,” said Per Bank, President and Chief Executive Officer, Loblaw Companies Limited. “These investments in Canada are a catalyst for job growth and the creation of countless opportunities in our stores, in our company, and with the many partners who work with us.”

Through this capital investment, Loblaw will create over 7,500 jobs in Canada, a release explained. This reinforces its position as a major contributor to the country and its economy.

Part of the retailer’s investment will be in its store network, with plans to build more than 40 new stores, expand or relocate another 10, and renovate more than 700 others.

This year’s investment is in addition to more than $10 billion CAD ($7.4 billion USD) the company has invested since 2016.

As Loblaw unveils its newest locations, AndNowUKnow will report.