The Alberta Petrochemicals Incentive Program is part of Alberta’s Recovery Plan, providing grants to companies to attract investment in new or expanded market-driven petrochemical facilities. The program will launch in early fall 2020.
The Alberta Petrochemicals Incentive Program will enhance certainty and flexibility for investors and cut red tape to attract investment into Alberta’s petrochemicals sector.
Key features include:
- A 10-year program period during which eligible projects must be built and operational to receive funding.
- Adopting an open and transparent approach, whereby every project submitted that meets the program’s criteria will receive funding once built and operational.
- Grants will be issued to companies after eligible projects are operational. Grants, instead of royalty credits, are the most effective way to attract investment into the petrochemical sector. Grants allow companies to better account for the full value of the incentive provided when calculating their project’s return on investment.
- Better alignment with typical investment cycles by making funding available throughout the program’s duration.
Details about the application process and program guidelines are in development and will be made available in Fall 2020.
New program to make Alberta a petrochemicals powerhouse (July 9, 2020)
Connect with the Alberta Petrochemicals Incentive Program:
9945 108 Street NW
Edmonton, AB T5K 2G6