Opening new markets means jobs and economic growth
Work continues to bolster Alberta’s access to priority markets to create jobs for Albertans, new opportunities for businesses and grow the province’s economy.
Budget 2014 supports the implementation of Alberta’s International Strategy to build new markets for Alberta’s products and attract international investment. Doug Horner, President of Treasury Board and Minister of Finance, recently returned from Boston and New York City where he discussed Budget 2014, Alberta’s strong economy, and the province as a destination for trade and investment.
“We want international investors to know why Alberta, with its strong balance sheet and growing economy, is the right place to put their money. Our work abroad provides an opportunity to talk about our balanced budget and our economic strength, while building on key relationships with investors.”
International missions help the province keep its borrowing costs to a minimum. Following Minister Horner’s most recent trip to Asia, the province sold $50 million of bonds as a private placement, saving nearly $175,000 in issuance costs. The bond’s investors included an individual who had met the Minister during his trip.
Alberta’s International Strategy includes actions to bolster access in priority markets, attract investment and give Albertans support to succeed globally. In 2013, Alberta’s international exports rose 6.9 percent, nearly twice the national average, to $102.5 billion.
“Alberta’s successful international approach has produced real, measurable gains. By continuing to develop relationships in Canada and around the world, our government is demonstrating Alberta is open for business.”
Budget 2014 expands Alberta’s international office network by three for a total of 16. In 2013, these offices assisted more than 650 Alberta companies in trade and investment missions that produced tangible results.
Under the Building Alberta Plan, our government is investing in families and communities, living within our means, and opening new markets for Alberta's resources to ensure we're able to fund the services Albertans told us matter most to them. We will continue to deliver the responsible change Albertans voted for.