Attracting job creating investment

Overview

Bill 33: the Alberta Investment Attraction Act , enabled the creation of an arms-length corporation to attract job-creating private sector investment and promote Alberta as a prime investment location for businesses from across Canada and around the world.

Investment attraction is essential to keep Alberta’s economy moving – new investments drive our economy by creating certainty, supporting existing jobs and creating new ones, expanding business opportunities, accelerating innovation, and increasing exports.

This is an important part of Alberta’s Recovery Plan to boost investment attraction efforts in key markets with major partners around the globe

Key changes

The Invest Alberta Corporation has been established to:

• instill investor confidence and drive high-impact investment in key sectors including energy, agriculture and tourism
• pursue investment opportunities in high-growth industries including technology, aviation and aerospace, and financial services

The bill also outlines the creation of a public board to oversee the corporation’s operations and investment attraction activities.

Next steps

Bill 33 received royal assent on July 29 and came into effect on July 31, 2020.

News

• Taking action to attract job-creating investment (July 31, 2020)
• Attracting investment to spur job creation (July 7, 2020)